Government e-Marketplace Current Affairs - 2019
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Government e-Marketplace (GeM) signed Memorandum of Understanding (MoU) with Union Bank of India (UBI). Through this partnership, UBI will be able to offer 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. It will also facilitate cashless, paperless and transparent payment system on GeM portal and will create an efficient procurement system for government entities.
Online integration for payments and various banking services is one of the priorities for GeM. So far, GeM has signed MoU with 14 Public Sector and private banks to enable this. It is also working with others banks, TReDs, and SIDBI to provide invoice financing and Bill Discounting to MSMEs registered on GeM. This will help MSMEs access easy credit and do better business with Government Departments.
About Government e-Marketplace (GeM)
It is an online marketplace launched by Union Government in 2018 to facilitate procurement of goods and services by various Ministries and agencies of the Government. It offers online, end to end solution for procurement of commonly used goods and services for all central government and state governments departments, public sector units (PSUs) and affiliated bodies. Its main aim is to enhance transparency, efficiency and speed in public procurement of goods and services and eliminate corruption. It provides tools for Direct Purchase, bidding and reverse auction in a transparent manner for government departments.
Tags: GeM • Governance • Government e-Marketplace • Government Schemes • Public Procurement
Government e-Marketplace (GeM) under Department of Commerce, Union Ministry of Commerce & Industry and Government of Punjab, signed a Memorandum of Understanding (MoU) to set up a GeM Organizational Transformation Team (GOTT) Project Management Unit (PMU) in the state.
Punjab is the 1st state which will establish GOTT PMU for effectively utilising this transformational initiative towards inclusive, efficient and transparent procurement. Among CPSUs, as of now only Steel Authority of India (SAIL) has already signed MoU for setting up of PMU. Many other states and CPSUs are in process of setting up GOTT PMUs.
It is estimated that through initiatives of GOTT PMU, Government of Punjab will be able to transact around Rs.1700 crore in terms of annual Gross Merchandize Value (GMV) on GeM platform in 1st year and over Rs.3000 crore per annum, over a period of time.
Importance: To further strengthen and enable Government departments towards a market based procurement, Department of Expenditure under Union Ministry of Finance has advised Ministries and Departments of Central and State Governments to consider services of GOTT on an outcome based self-sustenance model. GOTT will assist buyer agency to redesign procurement processes and enhance competencies to derive maximum benefit from online marketplace.
About GeM: It is the national public procurement portal that was launched in August 2016. Since then it has transformed public procurement landscape in country with transparency, efficiency and inclusion. It has facilitated procurement worth more than Rs.34,000 crore of goods & services by various Government Departments, Organisations and Public Sector Undertakings (PSUs).