Government e-Marketplace (GeM) signed MoU with Central Bank of India for Payment Related Services.
About:
GeM is an online market place that was launched in 2016.
Objective: To ensure that public procurement of goods and services in India (done by government bodies) worth more than Rs. 5 lakh crore annually is carried out through the online platform.
It has been developed by Directorate General of Supplies and Disposal (DGS&D) with technical support of National E-Governance Division (NEGD), Ministry of Electronics and Information Technology.
Benefits of GeM:
Transparency: GeM eliminates human interface in vendor registration, order placement and payment processing, to a great extent.
Efficiency: Direct purchase on GeM can be done in a matter of minutes.
Secure and safe: GeM is a completely secure platform and all the documents on GeM are e-Signed at various stages by the buyers and sellers.
Savings to the Government: The transparency, efficiency and ease of use of the GeM portal has resulted in a substantial reduction in prices on GeM.
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