- The candidate who is given a loan shall be required to provide a surety (where loan stipend is more than Rs.1,000 of two sureties) for its repayment and the surety (sureties) shall along with the candidate execute a bond in the form prescribed in Schedule 'C' annexed hereto binding himself (themselves) and the candidate jointly and severally for the repayment of the entire amount of loan with interest, if any; provided that if the candidate who is given a loan happens to be a minor, his natural guardian shall execute the bond and agreement on behalf of the minor along with a surety binding himself and the surety (sureties) jointly and severally for the repayment of the entire amount of loan with interest, if any.
