NMC Announces Revised Performance Bank Guarantee Rates for Medical Colleges
The National Medical Commission (NMC) has announced revised rates and validity periods for performance bank guarantees (PBGs) and electronic bank guarantees (e-PBGs) for medical colleges and institutes. These changes will take effect for the academic year 2025-26 onwards. This notification was issued on September 20, 2024.
This announcement follows a previous NMC notification dated September 2, 2024.
What are Performance Bank Guarantees (PBGs)?
PBGs are financial instruments that ensure medical colleges fulfill their obligations, such as meeting infrastructure and faculty requirements.
The NMC has established a tiered system for PBGs based on the number of MBBS seats offered and the type of postgraduate program:MBBS Seats:50 Seats: Rs. 15 Crore (6 years)
100 Seats: Rs. 20 Crore (6 years) (Rs. 5 Crore for additional 50 seats)
150 Seats: Rs. 25 Crore (6 years) (Rs. 5 Crore for additional 50 seats)
Postgraduate Programs: First 4 Seats: Rs. 2 Crore (4 years)
Additional Seats: Rs. 25 Lakh per seat (4 years)
Certain postgraduate programs, including MD (Anatomy), MD (Community Medicine), and MD (Microbiology), are exempt from PBG requirements.
These revised rates aim to streamline the application process for medical colleges while ensuring they meet quality standards. Medical colleges establishing new programs or increasing MBBS seat intake will need to factor in the revised PBG costs.
All concerned medical colleges and institutes are required to comply with the revised PBG rates and submit the necessary guarantees with their applications for the 2025-26 academic year onwards.
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