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Tuesday, April 16, 2024
HomeFeatured StoriesGeM to soon launch a mobile-based inclusive lending platform GEM Sahay 2.0

GeM to soon launch a mobile-based inclusive lending platform GEM Sahay 2.0


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The Government E-Marketplace (GeM) will launch GeM Sahay 2.0 for the sellers to provide easy access to loans up to 10 lakh rupees. In a media briefing, CEO of GeM PK Singh informed today that the Government is working to make the GeM portal more seamless to bring on board sellers from various categories. According to the Commerce and Industry Ministry, the loan will be disbursed in a hassle-free manner in 10 minutes and more banks will be couraged to join the initiative. GeM Sahay 2.0 is a mobile-based inclusive lending platform enabling sellers to avail loans on acceptance of an order on the GeM platform.  

According to the Ministry, GeM has disbursed loan amounts of around 21 crore rupees to sellers so far. It said, two lakh 13 thousand businesses are actively offering 36 lakh products on the GeM platform. The Ministry said, GeM is leveraging the latest technology to enable sellers from all over India to access the public procurement market, including initiatives like GeM outlet stores and the One District One Product initiative.

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