Section 10 in The Establishment Of New Medical Colleges, Opening Of Higher Courses Of Study And Increase Of Admission Capacity In Medical Colleges Regulation, 1993
10. that the applicant provides two performance bank guarantees in favour of the Medical Council of India, one for a sum of Rs. 100 lakh (for 50 annual admissions), Rs. 150 lakhs (for 100 admissions), and Rs. 200 lakhs (for 150 annual admissions), for the establishment of the medical college and its infrastructural facilities and the second for a sum of Rs. 350 lakhs (for 500 beds), Rs. 500 lakhs (for 700 beds) and Rs. 750 lakhs (for 1000 beds) for the establishment of the teaching hospital and its infrastructural facilities, as per schedule.
Exception. - The above condition shall not apply to applicants who are State Governments provided that they shall give an undertaking to provide funds in their Plan Budget regularly till facilities are fully provided as per the time bound programme indicated by them.Forms and ProceduresSubject to the fulfilment of the above Eligibility and Qualifying criteria, the application for setting up a new medical college will be submitted by the applicant in the following three parts :-
