New Delhi, April 7 State-owned Punjab National Bank (PNB) has signed a memorandum of understanding (MoU) with the Government e-Marketplace (GeM) to improve financial access for sellers.
The onboarding of Punjab National Bank as a lending partner on the GeM Sahay Portal offers multiple benefits to sellers by enabling quick access to collateral-free short-term loans against GeM purchase orders, thereby improving liquidity and easing cash flow challenges, PNB said in a statement.
This partnership particularly empowers micro, small, and medium enterprises (MSMEs) and small businesses that often face challenges in accessing timely and affordable formal credit, while ensuring transparency and efficiency through digital, paperless loan processing, it said.
By integrating procurement with financing, the initiative strengthens ease of doing business, expands vendor participation, and supports India's Digital India vision by fostering a seamless, inclusive, and technology-driven procurement ecosystem, it said.