Friday, 24 March, 2023

GeM, Central Bank of India sign MoU for payment services

<p>Government e-Marketplace (GeM), the government-owned public procurement portal has signed an MoU with the Central Bank of India. Under this partnership, the CBI will offer services including transfer of funds through GeM pool accounts (GPA), advising of electronic performance bank guarantees (e- PBG), an earnest money deposit (EMD) to the registered users on the portal. GeM has reportedly signed MoU with 18 public and private banks to enable these services.</p>