Amendment status not verified — confirm the current text below against the official source.
(1) The Government shall charge a minimum of one per cent as guarantee commission which shall not be waived under any circumstances. (2) Depending on the default risk of the project, the Government may, by notification, specify commission at an enhanced rate. Explanation.—For the purposes of this section, 'default risk' means the probability of default by the borroweron whose behalf the Government Guarantee is given, depending on the amount borrowed, the type of industry and the economic situations.