Q. With reference to Electoral Bonds consider the following statements:
1.It is a financial tool used for making donations to political parties.
2.Only political party, registered under section 29A of the Representation of the Peoples Act, 1951 and secured not less than 1% of the votes polled in the most recent General elections or Assembly elections, is eligible to receive electoral bonds.
3.The bond carries the rate of interest and is eligible for trading purposes.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A
Notes:

Statement 1: Electoral Bond is a financial tool used for making donations to political parties.

Statement 2: Only the political party registered under section 29A of the Representation of the Peoples Act, 1951 and secured not less than 1% of the votes polled in the most recent General elections or Assembly elections is eligible to receive electoral bonds.

Statement 3: The statement is incorrect. The bond does not carry the rate of interest and is not eligible for trading purposes.

Source: The Hindu