Hello Vaidehi,

There are 2 ways for process for Bond or Bank Guarantee: one is to open a fixed deposit account on your name and deposit  money in their account and put the name of the Dean of the college as a beneficiary. The other method is to mortgage a property or a land whose market value must be atleast 3 times the value of the bond but condition here is that the property should not belong to you or your mother or father or grandfather for that matter. It can be of your paternal or maternal uncle or of your father's friend or that sort. And it's compulsory for each and every one of the 250 students taking admission every year to sign the bond(either bank guarantee or property mortgage).

 The compulsory bond and rural service rule has been removed by a recent government resolution for those who get admission via All India Quota of 15%. The bond for UGs has been increased from 5 lacs to 10 lacs. While the bond for PGs has been increased to 20 lacs.

BEST WISHES!