New Delhi: Punjab National Bank (PNB) has signed a MoU with
Government e-Marketplace (GeM) to strengthen financial access for sellers.
The agreement, signed by Mr. Ajit B. Chavan, Additional
CEO & Chief Seller Officer, GeM Sahay, and Mr. Atish Kumar Rout, General
Manager – DBTD, PNB, brings PNB on board as a Lending Partner on the GeM Sahay
Portal.
The onboarding of Punjab National Bank as a Lending
Partner on the GeM Sahay Portal offers multiple benefits to sellers by enabling
quick access to collateral-free short-term loans against GeM Purchase Orders,
thereby improving liquidity and easing cash flow challenges. This partnership
particularly empowers MSMEs and small businesses that often face challenges in
accessing timely and affordable formal credit, while ensuring transparency and
efficiency through digital, paperless loan processing.
By integrating procurement with financing, the initiative
strengthens ease of doing business, expands vendor participation, and supports
India’s Digital India vision by fostering a seamless, inclusive, and
technology-driven procurement ecosystem.
Speaking on the occasion, Shri. Atish Kumar Rout,
General Manager – DBTD, PNB, said: “This partnership with Government
e-Marketplace (GeM) aims at advancing the vision of Digital India. By offering
seamless financial support to sellers, we aim to significantly reduce manual
efforts and strengthen transparency, efficiency, and ease of doing business
across the procurement ecosystem.”