Amendment in General Financial Rules (GFR), 2017 – Acceptance of electronic Bank Guarantee (e-BG)
Amendment in General Financial Rules (GFR), 2017 – Acceptance of electronic Bank Guarantee (e-BG): FinMin Order dated 05.08.2022
No.F.1/4/2022-PPD
Government of India
Ministry of Finance
Department of Expenditure
Procurement Policy Division
264-C, North Block, New Delhi.
05.08.2022.
OFFICE MEMORANDUM
Subject: Amendment in General Financial Rules (GFR), 2017 – Acceptance of electronic Bank Guarantee (e-BG).
It has been decided to partially amend Rule 170(i) and Rule 171(i) of General Financial Rules (GFR), 2017 regarding ‘Bid Security and Performance Security respectively’ as under:
| Rule/ Para | Existing provision | Amended Rule |
| 170(i) | The bid security may be accepted in the form of Insurance Surety Bonds, Account Payee Demand Draft, Fixed Deposit Receipt, Banker’s Cheque or Bank Guarantee from any of the Commercial Banks or payment online in an acceptable form, safeguarding the purchaser’s interest in all respects. | The bid security may be accepted in the form of Insurance Surety Bonds, Account Payee Demand Draft, Fixed Deposit Receipt, Banker’s Cheque or Bank Guarantee (including e- Bank Guarantee) from any of the Commercial Banks or payment online in an acceptable form, safeguarding the purchaser’s interest in all respects. |
| 171(i) | Performance Security may be furnished in the form of Insurance Surety Bonds, Account Payee Demand Draft, Fixed Deposit Receipt from a Commercial bank, Bank Guarantee from a Commercial bank or online payment in an acceptable form safeguarding the purchaser’s interest in all respects. | Performance Security may be furnished in the form of Insurance Surety Bonds, Account Payee Demand Draft, Fixed Deposit Receipt from a Commercial bank, Bank Guarantee (including e- Bank Guarantee) from a Commercial bank or online payment in an acceptable form safeguarding the purchaser’s interest in all respects. |
2. This OM is also available on website of Department of Expenditure; www.doe.gov.in -> Notification -> Circular -> Procurement Policy OM. Hindi version of this OM will follow.
Kanwalpreet
Director (Procurement Policy)
Tel.: 23093811
Email: kanwal.irss@gov. in
To
Secretaries of All Central Government Ministries/ Departments
Source: doe.gov.in
📢 Stay Updated with GConnect
Join our Whatsapp channels for the latest news and job updates:
Join GConnect News Join GConnect Jobs
GConnect News
GConnect Jobs
📢 Stay Updated with GConnect
Join our Whatsapp channels for the latest news and job updates:
Join GConnect News Join GConnect JobsGConnect News
GConnect Jobs
You might also like:
Indian Railways Recruitment Underway for 1.62 Lakh Vacancies; 17,803 Posts Notified in 2026
Government Employees Can Hold Elective Office Only for Two Terms or Five Years: DoPT Clarifies Rules
Government Clarifies No MACP Benefits for Central Employees Who Retired Before 1 September 2008
Government Says Income Tax e-Filing Portal Stable Despite Peak Load, Confirms Penalties on Infosys for Past Lapses
CBDT Has 26,997 Vacancies as of January 2026, Government Tells Lok Sabha
CGHS Integrates with Bhavishya Portal to Simplify Pensioner Card Process for Retiring Central Government Employees