NCLAT: Can’t Dismiss Restoration App. if Filed in 30 Days from Date of Dismissal of Original App.  ||  Delhi HC: Communication between Parties through Whatsapp Constitute Valid Agreement  ||  Delhi HC Seeks Response from Govt. Over Penalties on Petrol Pumps Supplying Fuel to Old Vehicles  ||  Centre Notifies "Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025"  ||  Del. HC: Can’t Reject TM Owner’s Claim Merely because Defendant Could have Sought Removal of Mark  ||  Bombay HC: Cannot Treat Sole Director of OPC, Parallelly with Separate Legal Entity  ||  Delhi HC: Can Apply 'Family of Marks' Concept to Injunct Specific Marks  ||  HP HC: Can’t Set Aside Ex-Parte Decree for Mere Irregularity  ||  Cal. HC: Order by HC Bench Not Conferred With Determination by Roster is Void  ||  Calcutta HC: Purchase Order Including Arbitration Agreement to Prevail Over Tax Invoice Lacking it    

GeM Partners with Central Bank of India for Payment Related Services- (Press Information Bureau) (07 Nov 2019)

MANU/PIBU/1569/2019

Commercial

Government e-Marketplace (GeM) signed MoU with Central Bank of India. Through this partnership, Central Bank of India will be able to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of electronic Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the portal.

Integration for payments and various banking services is one of the priorities for GeM towards the goal of paperless, contactless and cashless system. GeM has already signed MoU with 18 Public Sector and Private Banks to enable this.

GeM is also working with Banks, TReDs, and SIDBI to provide bill discounting and financing of working capital where the cost of capital is linked to the performance & rating of a seller on GeM. This will help the sellers in general and the MSMEs in particular to access easy credit and do better business with the government. In addition, GeM is contemplating the creation of EMD pool account for making it easy for sellers to comply with the EMD requirements while responding to bids.

GeM is an initiative of the Government of India which offers a one stop platform for facilitating online procurement of goods and services by Central and State government organizations. GeM provides tools for Direct Purchase, bidding and reverse auction for ensuring transparent and efficient procurement.

Tags : MOU   SIGNING OF   SERVICES  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved