Amazon of public procurement partners with these two banks; to enable payments, funds transfer, more

Credit and Finance for MSMEs: Online platform for public sector units, departments, and organisations to buy goods from micro and small enterprises (MSEs) and other sellers — Government e-Marketplace (GeM) signed two memorandum of understandings (MoU) with Bank of Maharashtra and UCO Bank this week to provide services such as transfer of funds through GeM Pool Accounts (GPA). The two banks would also provide advice of Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the portal. GeM has so far partnered with 19 public and private sector banks including Union Bank of India, Central Bank of India, Federal Bank etc.