{"id":220728,"date":"2019-10-11T13:40:51","date_gmt":"2019-10-11T08:10:51","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=220728"},"modified":"2019-10-11T12:25:28","modified_gmt":"2019-10-11T06:55:28","slug":"government-e-marketplace-signs-mou-with-union-bank-of-india","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/11\/government-e-marketplace-signs-mou-with-union-bank-of-india\/","title":{"rendered":"Government e-Marketplace signs MoU with Union Bank of India"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Government e-Marketplace (GeM)\u00a0signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) in New Delhi on October 10, 2019.<\/strong><\/p>\n<p style=\"text-align: justify;\">Through this partnership, UBI will be able to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the GeM portal. The MoU will facilitate a cashless, paperless and transparent payment system on the portal and will create an efficient procurement system for government entities.<\/p>\n<p style=\"text-align: justify;\">Online integration for payments and various banking services is one of the priorities for GeM. GeM has already signed MoU with 14 Public Sector and private banks to enable this.<\/p>\n<p style=\"text-align: justify;\">GeM is also working with other banks, TReDs, and SIDBI to provide invoice financing and Bill Discounting to the MSMEs registered on GeM. This will help MSMEs access easy credit and do better business with Government Departments.<\/p>\n<p style=\"text-align: justify;\">GeM is an initiative of the Government of India offering a one-stop platform facilitating online procurement of common use goods and services required by various government departments, organisations, Public Sector Units. GeM provides tools for Direct Purchase, bidding and reverse auction in a transparent manner for government departments.<\/p>\n<hr \/>\n<p><strong>Ministry of Commerce &amp; Industry<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>\u00a0[Press Release dt. 11-10-2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government e-Marketplace (GeM)\u00a0signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) in New Delhi on October 10, 2019. Through <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,8],"tags":[37897,3249,37898],"class_list":["post-220728","post","type-post","status-publish","format-standard","hentry","category-news","category-treaties_conventions_internationalagreements","tag-government-e-marketplace","tag-Memorandum_of_Understanding","tag-union-bank-of-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Government e-Marketplace signs MoU with Union Bank of India | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/11\/government-e-marketplace-signs-mou-with-union-bank-of-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government e-Marketplace signs MoU with Union Bank of India\" \/>\n<meta property=\"og:description\" content=\"Government e-Marketplace (GeM)\u00a0signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) in New Delhi on October 10, 2019. 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Gupta, CEO GeM, S. Radha Chauhan, Members of CCI, U.C. Nahta and Sangeeta Verma were present on the\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/GeM-and-CCI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/GeM-and-CCI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/GeM-and-CCI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/GeM-and-CCI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/GeM-and-CCI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":63111,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/08\/24\/union-ministry-of-civil-aviation-government-of-maharashtra-and-aai-signs-mou-on-regional-connectivity-scheme\/","url_meta":{"origin":220728,"position":1},"title":"Union Ministry of Civil Aviation, Government of Maharashtra and AAI signs MOU on Regional Connectivity Scheme","author":"Sucheta","date":"August 24, 2016","format":false,"excerpt":"The Ministry of Civil Aviation, State Government of Maharashtra and Airports Authority of India signed a tri-partite Memorandum of Understanding (MOU), thereby kicking off the collaborative process of the three agencies coming together for successful launch of the Regional Connectivity Scheme. The MOU was signed at Mumbai in the presence\u2026","rel":"","context":"In &quot;News&quot;","block_context":{"text":"News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/MOU.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/MOU.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/MOU.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/MOU.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/MOU.jpg?resize=1050%2C600&ssl=1 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