GeM sign two MoUs with UCO Bank and Bank of Maharashtra for Payment Related Services

GeM sign two MoUs with UCO Bank and Bank of Maharashtra for Payment Related Services

GeM sign two MoUs with UCO Bank and Bank of Maharashtra for Payment Related Services

The Government e- Marketplace (GeM) signed two MoUs with Bank of Maharashtra and UCO Bank to offer a number 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 portal.

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Integration for payments and various banking services is one of the priorities for GeM towards the cherished goal of a paperless, contactless and cashless system. GeM has already signed MoUs with 19 Public Sector and Private Banks to enable these functionalities.

The MoU Signed by:

The MOU was signed by S Suresh Kumar, Additional CEO (GeM) andAnil Kumar, General Manager, UCO Bank and V D Kolhatkar, Field General Manager, Bank of Maharashtra.