CURRENT AFFAIRS

Detailed explanation-1: -The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for expanding the mandate of GeM to allow procurement by Cooperatives as buyers on GeM.

Detailed explanation-2: -The Union Cabinet on Wednesday approved expanding the mandate of Government e-Marketplace (GeM) to allow procurement by Cooperatives as buyers on the portal. The decision was taken at a meeting of the union cabinet chaired by Prime Minister Narendra Modi.

Detailed explanation-3: -Suppliers (sellers) can be from across all segments - government or private.

Detailed explanation-4: -The Union Cabinet on Wednesday cleared a proposal allowing cooperatives to sell products on the Government-e-Marketplace (GeM) platform. The cooperatives may however be charged a transaction fee to cover the incremental costs, a government statement said.

Detailed explanation-5: -Cooperatives included as buyers on government’s e-marketplace portal.