Section 10(8) in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016
(8)In the event of serious deficiencies, the participating financial institution shall be liable to refund the claim released by the Partial Risk Guarantee Fund for Energy Efficiency together with penal interest at the rate of four percent above the base rate of State Bank of India. These serious deficiencies shall be such as inadequate appraisal or renewal or follow-up or conduct of the project or multiple lodgement of claim, or suppression of any material information for the settlement of claims or any other deficiency.
