• More than ₹400 crore worth of electoral bonds were sold by the State Bank of India (SBI) in the 10-day window of October, a sharp rise from the ₹32 crore worth of bonds sold in the July tranche, according to data the bank released under the Right to Information.
  • The electoral bond data assumes significance against the backdrop of the Assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram.
  • The RTI data, released in response to queries by Factly, also shows that there is next-to-no demand for electoral bonds of smaller denominations and the majority of the bonds sold were in the highest denomination of ₹1 crore.
  • The data shows that ₹401.73 crore worth of bonds were sold by SBI in the October 1-10 window, the fifth tranche in which the bonds were available for sale.
  • Within this, about 37.5% of the bonds (₹150.7 crore worth) were sold in Mumbai, the highest share among the 11 cities where the bonds were for sale.
  • The city with the second highest sales was Kolkata (₹62.6 crore worth).
  • The data from all five tranches shows that barely any electoral bonds were sold in the smaller denominations of ₹1,000, ₹10,000, and ₹1 lakh.
  • For example, in the March and April tranches, a total of just 17 bonds (2.2% of the total) were sold in the ₹1,000 denomination, and none was sold in the ₹10,000 denomination.
  • In contrast, 450 bonds were sold in the ₹10 lakh denomination (58.6% of the total) and 291 in the ₹1 crore denomination (37.9% of the total).