The National Medical Commission (NMC) has directed that medical colleges shall furnish bank guarantees solely on Structural Financial Messaging System Platform (SFMS) Platform. A notice to this effect was issued on 16th March, 2023 and has come into immediate effect.
Henceforth, ordinarily, a physical bank guarantee will not be accepted. Only in exceptional circumstances, will a bank guarantee not generated through SFMS Platform be accepted.
Additionally, revised formats for Bank Guarantee Message and Bank Guarantee Amendment Message shall be used mandatorily while sending Inland Bank Guarantee.
