Government e-Marketplace is a one-stop solution for procurement of goods and services required by various co-operative societies/banks, government departments/organisations, PSUs and States/UT’s with the aim to enhance transparency, efficiency and speed in public procurement.
GeM Pool Account (GPA) is a special purpose account opened, operated and controlled by each government agency/department for the purpose of crediting the projected value of the contract/supply order into the account and subsequently making timely payments to suppliers on successful supply of goods and services
Axis Bank has partnered with Government e-Marketplace (GeM) for providing banking solutions to all the entities for e-Procurements. These banking solutions includes Specialised Current Account/Savings Account with API integrated payment solutions through GeM portal.
Complete automated process for disbursement of funds to vendors on timely basis post request from GeM.Amount refunded to the source account in case of any order cancellation.
Any entity that is registered on GeM portal as a buyer can be on-boarded. All government organisations/ departments, PSU's, municipalities, panchayats, Co-operative societies, Co-operative Banks etc. doing procurement on GeM
Contact your relationship manager or visit your nearest branchAxis Bank is the first bank to GO LIVE for providing GPA service on Non-Challan business model.
Yes, as per Office Memorandum shared my Ministry of Finance dated 14-Aug-2018, GPA can be either Savings/Current
Client needs to follow the standard process for account opening.
GPA enabled banks means that banks that have signed MOU with GeM for account opening.
In Challan mode, funding in Virtual Account Number (Beneficiary Account) needs to be done for each procurement whereas in Non-Challan mode lump sum funding can be done in Virtual Account Number (Beneficiary Account).
In Challan mode the Virtual Account Number (Beneficiary Account) is created for each procurement (i.e. each order) whereas in Non Challan business model Virtual Account Number (Beneficiary Account) is static.
Once the account gets opened, client needs to send the Deal details to BBCMS Implementation team for corp code creation. Once the corp code gets generated, client needs to share the client on-boarding template with CRS team. Once confirmed by CRS team, account is on-boarded by the Bank. Hereafter, client needs to activate the account on GeM portal.
Yes, business model can be changed for a client.
Client can fund Virtual Account using one of the three modes- RTGS/NEFT/IMPS
No, amount in Axis GPA can’t be used for Challan Funding. Client needs to fund the Virtual Account Number in Challan from any other account.
No, client can’t fund the GPA directly. Client needs to fund VAN created for procurement purpose. Funds available in GPA can’t be utilised
DDO Registration No. mentioned at the time of DDO registration is the Virtual Account No. (Beneficiary Account No.). IFSC code will be UTIB0CCH274.
Customers who are registered on GeM portal as buyer can only use the GPA service.
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