Hi there,
As per the information that I could gather the Fee Regulating Authority (FRA) directed that medical students seeking admission to MD/MS/PG diploma and MDS under no circumstances are required to furnish a bank guarantee over and above their fee of one academic year.
You can go through below link for more information.
https://www.hindustantimes.com/pune-news/state-fee-regulating-authority-directive-no-bank-guarantee-for-medical-admissions/story-EKQVNSfhWZ8JbHT4Divz0O.html
https://timesofindia.indiatimes.com/city/gurgaon/hc-stays-bank-guarantee-for-admission-to-med-pg-courses/articleshow/64142182.cms
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