Punjab National Bank (PNB) has signed a strategic Memorandum of Understanding (MoU) with Government e-Marketplace (GeM) to strengthen financial support for sellers operating on the platform. Through this collaboration, PNB has been onboarded as a lending partner under the GeM Sahay initiative.
The MoU was formally signed by Sh. Ajit B. Chavan, Additional CEO and Chief Seller Officer, GeM, and Sh. Atish Kumar Rout, General Manager – DBTD, Punjab National Bank, representing their respective organizations.
Under this partnership, eligible sellers on the GeM platform will be able to access unsecured, short-term credit based on their purchase orders. This move is designed to address working capital challenges and ensure faster, more efficient access to funds.
By integrating financing solutions directly into the procurement ecosystem, the initiative aims to simplify credit availability, enhance liquidity, and enable smoother execution of orders for sellers.
The collaboration is expected to significantly benefit MSMEs, startups, and emerging businesses by reducing financial barriers and encouraging broader participation in government procurement processes.
This partnership highlights Punjab National Bank’s continued focus on enabling inclusive growth and supporting a transparent, technology-driven marketplace for businesses across India.
