Bank of Baroda has entered into a MoU with the Directorate General of Supplies and Disposals (DGS&D) of the government of India for extending various banking services to the Government eMarketplace. DGS&D has been mandated to implement Government eMarketplace (GeM), a landmark initiative of the central government intended to bring about greater transparency and efficiency in public procurements. G.B. Panda, GM (Government Relationships) of the bank, and A.K. Rai, director, DGS&D, exchanged the documents. Panda said the project is of national importance and would redefine the public procurement pattern in the country. Rai made a presentation outlining the evolution, concept, operating framework and the value proposition for all stakeholders of GeM.
