NMC revises Bank Guarantee rates for medical colleges, Here is complete list
New Delhi: The National Medical Commission (NMC) has revised the rates and the period of performance bank guarantees/ e-PBG. These revised rates will be applicable from the academic year 2025-2026.
As per the revised rates published in the notice dated 02.09.2024, for the Establishment of medical college and for admission to 50 MBBS seats, the rate is Rs 15 crore for 6 years.
For 6 years of tenure, the rate of bank guarantee for admission to 100 and 150 MBBS seats is Rs 20 crores (or 5 crores in case of additional 50 seats), and Rs 25 crores respectively.
In the case of a PG degree or higher speciality, the rate is Rs 2 crores for 4 years, and for an additional PG degree/ higher speciality, the rate is Rs 25 lakh for each addition of course seat/penalty for a tenure of 4 years.
"This change is notified under the section 18(b) of the MARB notification no. M27011/01/2023-MARB dated 2nd June 2023 and same was also published on NMC website dated 8th June 2023," NMC mentioned in the notice.
"Therefore, it is enjoined upon all concerned medical college/institute to comply and furnish bank guarantees I e-PBG with corresponding validity period and rates mentioned in above table for the purpose of application being submitted. This change is applicable from the academic year 2025-26," the Commission further added.
This rationalization was approved by the Apex Medical Commission in the NMC meeting.
Sl No. | Purpose | Tenure/Rate |
1 | Establishment of medical college For 50 admission of MBBS seats | 6yr/ 15 Crores |
2 | Establishment of medical college For 100 admission of MBBS seats (or Additional 50 seats of MBBS) | 6yr/20 Crores (or 5 cores in case of additional 50 seats) |
3. | Establishment of medical college For 150 admission of MBBS seats (or Additional 50 seats of MBBS) | 6yr/ 25 Crores (or 5 cores in case of additional 50 seats) |
4. | For PG degree/ Higher Specialty | 4yrs/2 Crores |
5. | For additional PG degree/ Higher Specialty | 4yrs/ 25 Lakh each addition of course seat/ specialty |
Submission of Bank Guarantees is a requirement the medical colleges must fulfill to open new medical colleges or start/increase MBBS and PG medical seats.
Last year, Medical Dialogues reported that NMC MARB had asked the applicants to submit the required Bank Guarantees clarifying that if the applicants fail to submit the necessary Bank Guarantees within the deadline, their applications shall not be considered for the Academic Year 2024-2025.
Earlier this year, NMC took note of the number of expired Bank Guarantees (BGs) lying with the Commission and decided to return those BGs on a formal request to the colleges/institutions.
However, for returning those BGs, NMC had laid down some conditions including that the validity period of the BG has expired, at least one batch of PG and UG students have passed after completing the course. In this regard, the Commission had asked all the medical colleges/institutes concerned to accordingly make a formal request to return those expired BGs immediately on the authorised e-mails of MARB, NMC.
To view the NMC notice on revised rates of performance bank guarantees, click on the link below:
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