The National Medical Commission (NMC) has announced revised Performance Bank Guarantee (PBG) requirements for medical colleges and institutes. These changes will take effect from the academic year 2025-26. This notification was issued on September 2, 2024.
The revised rates and tenures for PBGs are as follows:
| Purpose | Tenure | Rate (Crores) |
|---|---|---|
| Establishment of medical college for admission of 50 MBBS seats | 6 years | 15 crores |
| Establishment of medical college for admission of 100 MBBS seats (or additional 50 MBBS seats) | 6 years | 20 crores (or 5 crores in case of additional 50 MBBS seats) |
| Establishment of medical college for admission of 150 MBBS seats (or additional 50 MBBS seats) | 6 years | 25 crores (or 5 crores in case of additional 50 MBBS seats) |
| For PG degree/Higher Specialty | 4 years | 2 crores |
| For additional PG degree/Higher Specialty | 4 years | 25 lakhs per additional seat |
These revised rates and tenures are applicable for both performance bank guarantees and electronic bank guarantees (e-PBGs). Medical colleges are required to comply with these changes when submitting applications.
The NMC has emphasized the importance of adhering to these revised PBG requirements to ensure the financial stability and accountability of medical institutions.
