Section 14. Payment of Interest

14. Payment of Interest— The State Government shall charge simple interest at the rate of twenty four percent per annum on any payment due to State Government under these rules the payment of which is delayed beyond sixty days from the due date thereof. 14. The Bank is liable to pay the guaranteed amount or any part thereof under this bank guarantee only and only if the Director, Mines /Deputy Commissioner serves upon the Bank a written claim or demand on or before the Expiry Date. Dated the [day] day of [month] [year] for the Bank. In witness whereof the Bank, through its authorized officer, has set its hand and stamp. ————————————— (Signature) (Name and Designation) (Bank Stamp) By order of Governor of Jharkhand Sunil Kumar Barnwal, Secretary of Government. ------------------- अध◌ीZक, झ◌ारख;ड र◌ाजक]य म ण◌ालय, र◌ा◌ँची dव◌ारा Qक◌ा शत एव मS त, झ◌ारख;ड गजट (स◌ाध◌ारण) 24--200 ।