GeM, Central Bank of India ink pact for payment services

Integration for payments and other banking services is key to GeM's goal of a paperless, contactless and cashless system.

GeM, the online marketplace for public procurement, has signed a memorandum of understanding with Central Bank of India to offer services such as transfer of funds through GeM pool accounts, advising of electronic performance bank guarantees and earnest money deposit to registered users. The agreement was signed by Rajeev Kandpal, chief Financial Officer, GeM and AK Mishra, field general manager,Central Bank of India. Talleen Kumar, CEO, GeM, also was present.

Integration for payments and other banking services is key to GeM’s goal of a paperless, contactless and cashless system. The online marketplace has already signed agreements with 18 public and private sector banks towards this end.

GeM is in pact with banks, TReDs, and SIDBI to provide bill discounting and working capital financing services where the cost of capital is linked to the performance and rating of a seller on GeM. This service will help the MSMEs to access easy credit and do business with the government. GeM also plans to create EMD pool accounts for helping sellers comply with EMD requirements while putting in bids.

GeM is a government initiative that offers a one-stop platform for online procurement of goods and services by central and state governments and public sector undertakings. GeM facilitates direct purchase, bidding and reverse auction to ensure efficient and transparent purchases.

Recommended For You

69 Comments

  1. wonderful issues altogether, you just gained a brand new reader.
    What might you recommend in regards to your submit that you simply made a few days ago?

    Any positive?

    my blog post … buy CBD

  2. I’ve been exploring for a little for any high
    quality articles or weblog posts on this sort of space .

    Exploring in Yahoo I finally stumbled upon this site. Reading this information So i’m glad to exhibit that I’ve a very just right uncanny feeling I found out just what I needed.
    I such a lot unquestionably will make certain to don?t put out of your mind this website and provides it a look regularly.

  3. It’s perfect time to make some plans for the long run and
    it is time to be happy. I’ve learn this publish and if I may I desire to counsel you few fascinating issues or tips.
    Perhaps you could write next articles relating to this article.
    I wish to read more issues approximately it!

  4. Hi there this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to
    manually code with HTML. I’m starting a blog soon but have no
    coding experience so I wanted to get advice from someone with experience.
    Any help would be greatly appreciated!

  5. Hello there I am so glad I found your blog page, I really found you by error,
    while I was browsing on Yahoo for something else, Regardless
    I am here now and would just like to say cheers for a fantastic post and a all round thrilling blog
    (I also love the theme/design), I don’t have time to look over it all at the moment but I have bookmarked it and
    also added your RSS feeds, so when I have time I will be back to
    read more, Please do keep up the superb job.

  6. I don’t even know how I ended up here, but I thought this post was good.
    I don’t know who you are but certainly you are
    going to a famous blogger if you aren’t already 😉 Cheers!

  7. Normally I don’t read article on blogs, however I would like to say that this write-up very forced me to take a look at and do it!
    Your writing taste has been amazed me. Thanks, quite nice post.

  8. Greetings from Ohio! I’m bored at work so I decided to browse
    your blog on my iphone during lunch break. I enjoy the info you provide here and can’t wait
    to take a look when I get home. I’m shocked at how quick your blog
    loaded on my mobile .. I’m not even using WIFI, just 3G .. Anyways, fantastic
    blog!

  9. We are a bunch of volunteers and opening a new scheme
    in our community. Your site provided us with valuable info to work on.
    You’ve performed a formidable activity and our entire neighborhood will likely be thankful to you.

  10. Hey, I think your website might be having browser compatibility issues.

    When I look at your blog site in Chrome, it looks fine but when opening in Internet Explorer,
    it has some overlapping. I just wanted to give you a quick heads up!
    Other then that, awesome blog!

  11. I think what you said made a lot of sense. However, think on this,
    what if you composed a catchier title? I mean, I don’t wish to
    tell you how to run your website, however what
    if you added something that makes people want more? I mean GeM, Central
    Bank of India ink pact for payment services |
    Policy Circle is a little plain. You might look at Yahoo’s home
    page and see how they create article titles to grab people to open the links.
    You might add a video or a picture or two to get people excited about everything’ve got to
    say. Just my opinion, it could make your blog a little livelier.

  12. Hi I am so glad I found your site, I really found you by mistake,
    while I was browsing on Yahoo for something else, Regardless
    I am here now and would just like to say cheers for a tremendous post and a all round entertaining
    blog (I also love the theme/design), I don’t have time to go
    through it all at the minute but I have book-marked it and also included your RSS feeds,
    so when I have time I will be back to read a great deal more, Please do keep up the
    great job.

  13. My spouse and I stumbled over here coming from a different web page and thought I
    may as well check things out. I like what I see so i am just following you.
    Look forward to looking into your web page again.

  14. I am really inspired with your writing skills as neatly as with
    the structure in your blog. Is that this a paid topic or did
    you modify it yourself? Either way stay up the excellent high
    quality writing, it’s uncommon to look a great blog like this one these days..

  15. I have been surfing online more than three hours today,
    yet I never found any interesting article like yours.
    It’s pretty worth enough for me. In my opinion, if all webmasters and
    bloggers made good content as you did, the internet will be a lot more useful than ever before.

  16. This design is steller! You certainly know how to keep a reader entertained.
    Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Excellent job.
    I really loved what you had to say, and more than that, how
    you presented it. Too cool!

  17. Heya i am for the first time here. I came across
    this board and I to find It truly helpful & it helped me out a lot.

    I am hoping to present something again and aid others like you aided me.

  18. magnificent points altogether, you simply received
    a new reader. What could you recommend in regards to your submit that you just made some days
    ago? Any certain?

  19. Cool blog! Is your theme custom made or did you download it from
    somewhere? A theme like yours with a few simple adjustements
    would really make my blog shine. Please let me know where you
    got your theme. With thanks

  20. Hi there! This post couldn’t be written any better!
    Reading this post reminds me of my old room mate! He always kept talking about this.
    I will forward this write-up to him. Pretty sure he will have a good read.
    Thank you for sharing!

  21. Hey I am so excited I found your blog page, I really found
    you by accident, while I was browsing on Digg for something else, Anyhow I
    am here now and would just like to say thank you for a marvelous post and a all round
    entertaining blog (I also love the theme/design), I don’t have time to read
    through it all at the moment but I have bookmarked it
    and also included your RSS feeds, so when I have time
    I will be back to read a lot more, Please do keep up the awesome job.

  22. With havin so much content and articles do you ever run into
    any problems of plagorism or copyright violation? My blog has a lot of completely unique content
    I’ve either created myself or outsourced but it looks
    like a lot of it is popping it up all over the internet without my agreement.
    Do you know any methods to help stop content from being stolen? I’d certainly appreciate it.

  23. I don’t even understand how I ended up right here, however I believed this
    post was good. I don’t know who you are but definitely you’re
    going to a famous blogger in the event you aren’t already.
    Cheers!

Leave a Reply

Your email address will not be published.