Section 34(7) in The U.P. Minor Minerals (Concession) Rules, 1963
(7)The financial assurance shall be submitted by the lessee before the execution of lease deed in one of the following forms to the District Officer or the officer authorised by the State Government in this behalf, as the case may be, or any amendment to it.(a)Letter of Credit from any Scheduled Bank;(b)Performance or surety bond;(c)Any other form of security or any other guarantees acceptable to the competent authority.
