Section 41(1) in Rajasthan Minor Mineral Concession Rules, 2017
(1)The performance security shall be in the form of fixed deposit receipt of nationalized bank or scheduled bank valid for at least three years or national saving certificate and duly pledged in favour of the Mining Engineer or Assistant Mining Engineer concerned or bank guarantee of nationalized bank or scheduled bank in favour of the Mining Engineer or Assistant Mining Engineer concerned as specified in Form -5 or any other form of securities notified by the Government for the due performance of the contract. Fixed deposit receipts shall be made from the bank account of the contractor.
