Hi,

It is a bond signed at the time of pg admission to medical colleges of a particular state.

If you sign a post pg rural bond status then According to the bond you have to give your service for that state for a perticular period of time. If you failed to pay your services then you have to pay the penalty for that.

The time period of service bond may vary from 1year to five years depending on state.

If you do not like to do the service then you have to pay the penalty upto 50 lakhs depending on the state.

Hope it helps.