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of <h1>GeM Partners with Indian Bank and Canara Bank to Boost Cashless, Transparent Payments for Government Procurement.</h1> Government e-Marketplace (GeM) has entered into agreements with Indian Bank and Canara Bank to enhance payment-related services on its platform. This collaboration aims to establish a cashless, paperless, and transparent payment system, improving procurement efficiency for government entities. The banks will offer services such as fund transfers via GeM Pool Accounts, Performance Bank Guarantees, Earnest Money Deposits, and Payment Gateway services. Additionally, GeM is collaborating with financial institutions to provide bill discounting and working capital financing, benefiting sellers, particularly MSMEs. GeM is a government initiative facilitating online procurement for various government departments and organizations.
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