Which Bank has signed an agreement with the Government e-Marketplace (GeM) under which the bank will facilitate a host of services to the public procurement portal for Central and state government organizations?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Federal Bank
B	South Indian Bank
C	Nainital Bank
D	HDFC Bank

Explanation:

Detailed explanation-1: -HDFC Bank has partnered with Government e-Marketplace (GeM) for providing banking solutions to Buyers and Sellers for e-Procurements.

Detailed explanation-2: -Government created one stop Government e-Marketplace (GeM) to facilitate on line procurement of common use Goods and Services required by various Government Departments / Organizations / PSUs. GeM will enhance transparency, efficiency and speed in public procurement.

Detailed explanation-3: -The Government e Marketplace (or e-Marketplace) (GeM) is an online platform for public procurement in India. The initiative was launched on August 9, 2016 by the Ministry of Commerce and Industry, Government of India with the objective to create an open and transparent procurement platform for government buyers.

Detailed explanation-4: -We are proud to be associated with Government e-Marketplace (GeM) for providing end-to-end banking solutions to government stakeholders.

Detailed explanation-5: -“GeM is the best portal as it allows transaction with transparency and is making the system corruption free.” “Scope of this initiative of Government of India is massive as this is the largest e-commerce portal for procurement for buyers.

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