Notwithstanding any thing contained in any other law , no Government guarantee shall be given in respect of a loan of any private individual, institution or company.

Guarantee Guarantee 5.

1. (1) The Governemnt shall charge a minimum of one percent as gurantee commission which shall not be walved under any circumstances.
2. (3) The Governemnt may , by notification in the Official Gazette specify commission at an enhanced rate depending on the default risk of the project.