Nov 11, 2019
Government e-Marketplace (GeM) signed MoU with Central Bank of India. Through this partnership, Central Bank of India will be able to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of electronic Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the portal.
Integration for payments and various banking services is one of the priorities for GeM towards the goal of paperless, contactless and cashless system.