Finance Minister Nirmala Sitharaman's plan to sell bonds overseas comes as PM Modi faces shrinking options to raise funds.
A 10-year Indian government paper would have a yield of 3.5 per cent to 3.7 per cent.
The petitioner had contended that the bonds violated Article 293(1) of the Constitution.
SBI refuses to disclose communication from RBI, government on electoral bonds, terms it 'personal info'
The bank also refused to give any details of action taken by it on such communications from the RBI and the government.
The instrument will be issued to property owners when government acquires their land for infra projects
The State Bank of India in the 6th phase of sale had been authorised to issue and encash electoral bonds through its 29 authorised branches from November 1-10, 2018.
After masala bonds, we’re now exploring issuing dollar bonds,” said Isaac. Dollar bonds are US-denominated bonds that trade outside that country.
Chennithala also refuted Finance Minister T M Thomas Isaac’s statement that the bonds could be purchased in the open market.
In April, most electoral bonds were sold in Mumbai at Rs 694 crore, followed by Rs 417.31 crore in Kolkata, Rs 408.62 crore in New Delhi and Rs 338.07 crore in Hyderabad among other cities.
The Central government is mulling over the need to tweak rules governing large corporate borrowers which came into effect from April this year.
The Centre on Wednesday reduced the time period for sale of electoral bonds in the current month to five days instead of 10 days as was announced earlier.
BSP supremo Mayawati tweeted that the BJP had suffered another major jolt and a shameful defeat in the apex court.
Congress hails SC order on electoral bonds, says transparency in political funding must be adhered to
Congress spokesperson Priyanka Chaturvedi took a swipe at the BJP and said the judgement would bring out the 'nexus' between the saffron party and its 'suited-booted friends'.
Political parties have to submit details of identity of donors, amount in account of donors by May 30 in sealed cover to the poll panel.
During the hearing, the Centre and the Election Commission of India (ECI) took contrary stands in the Supreme Court over political funding.