HDFC Bank inks MoU with Government e-Marketplace

Monday 26 March 2018 00:28 CET | News

Private sector lender HDFC Bank has signed an agreement with the Government e-Marketplace (GeM). 

Under the agreement the bank will facilitate a host of services to the public procurement portal for Central and state government organisations.

The MoU is significant as Government e-marketplace will bring transparency and efficiency in the procurement process with assured and timely payment to the sellers, HDFC Bank claimed in a statement.

GeM provides an end-to-end online marketplace for central and state government ministries or departments, central or state public sector undertakings, autonomous institutions and local bodies for procurement of common use goods / services in a transparent and efficient manner.

About 20 states have already signed an MoU with GeM to use this portal for their procurements. 

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Keywords: HDFC Bank, MOU, Government e-Marketplace, e-procurement
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech