Revoke 948 expired Bank Guarantees: NMC issues notice for medical colleges, banks, releases list

New Delhi: Aiming to expedite the process of returning expired Bank Guarantees (BGs) to medical colleges, the Medical Assessment and Rating Board (MARB) of the National Medical Commission (NMC) has released a list of 948 expired bank guarantees asking the concerned medical colleges to approach the bank to get them revoked.

The Apex medical commission has requested the banks concerned to revoke the expired BGs mentioned in the list immediately to the concerned medical colleges/institutions to the MARB, NMC.

Before revoking the BGs, the Banks have been advised by NMC to cross-check the list attached with the public notice available on the NMC website.

Submission of Bank Guarantees is a requirement that the medical colleges need to fulfill to open new medical colleges or start/increase MBBS and PG medical seats. Medical Dialogues had earlier reported that last year 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 month, 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.

In continuation of its earlier notice dated 01.02.2024, NMC has now issued another notice on 07.02.2024 and mentioned, "In continuation of MARB’s Public Notice of even number dated 01.02.2024 regarding returning of expired Bank Guarantees (BGs) to the concerned Medical College/Institutions wherein it was ,inter-alia, conveyed to the Medical Colleges/Institutions concerned to apply for return of expired Bank Guarantees so that they can approach the banks to revoke the BGs. Now, in order to speed up the matter of revoking the BGs, it has been decided that the Medical Colleges/Institutions whose name figure in the attached list may approach the Bank for getting their BGs revoked."

Releasing a list of 948 expired BGs, the Commission further mentioned in the notice, "Accordingly, a list of expired BGs available with National Medical Commission (NMC) is attached with this public notice. The Banks concerned are requested to revoke the expired BGs mentioned in the attached list immediately to concerned Medical Colleges/Institutions under intimation to the MARB, NMC."

NMC added that if any medical College/Institution/Bank face any issue in the matter, they may get it clarified by sending their requests on the authorised e-mails of MARB available at the attached URL of the website of this Commission.

"Before revoking the BGs, Bank concerned may cross check the list attached with this public notice available on the website of NMC. This issue with the approval of the Competent Authority of this Commission," the notice further mentioned.

The NMC list includes information such as the name of the medical college, BG No with date, amount of BG, expiry date, and claim date/remarks.

To view the notice, click on the link below:

https://medicaldialogues.in/pdf_upload/nmc-expired-bgs-231811.pdf

Also Read: NMC to return expired bank guarantees to Medical Colleges, Lays Down Conditions