Apply
Now
- Home
- Business Banking
- Current Account
- Current Account GeM Pool Account
- Frequently Asked Questions
Overview
Government e-Marketplace is a one-stop solution for procurement of goods and services required by various co-operative societies/banks, government departments/organisations, PSUs and States/UT’s with the aim to enhance transparency,
efficiency and speed in public procurement.
GeM Pool Account (GPA) is a special purpose account opened, operated and controlled by each government agency/department for the purpose of crediting the projected
value of the contract/supply order into the account and subsequently making timely payments to suppliers on successful supply of goods and services
Access to 4400+ branches 17000+ ATMs for banking services
Anytime, Anywhere banking with Internet/Mobile Banking
Enhanced ATM Cash withdrawal & shopping limits
Suite of Debit Cards, CMS and Trade-Forex solutions
-
-
Frequently Asked Questions
Yes, as per Office Memorandum shared my Ministry of Finance dated 14-Aug-2018, GPA can be either Savings/Current
Client needs to follow the standard process for account opening.
GPA enabled banks means that banks that have signed MOU with GeM for account opening.
In Challan mode, funding in Virtual Account Number (Beneficiary Account) needs to be done for each procurement whereas in Non-Challan mode lump sum funding can be done in Virtual Account Number (Beneficiary Account).
In Challan mode the Virtual Account Number (Beneficiary Account) is created for each procurement (i.e. each order) whereas in Non Challan business model Virtual Account Number (Beneficiary Account) is static.
Once the account gets opened, client needs to send the Deal details to BBCMS Implementation team for corp code creation. Once the corp code gets generated, client needs to share the client on-boarding template with CRS team. Once confirmed by CRS team, account is on-boarded by the Bank. Hereafter, client needs to activate the account on GeM portal.
Yes, business model can be changed for a client.
Client can fund Virtual Account using one of the three modes- RTGS/NEFT/IMPS
No, amount in Axis GPA can’t be used for Challan Funding. Client needs to fund the Virtual Account Number in Challan from any other account.
Important Links
Open Access Blog
Benefits of FASTag and how to get one
Starting December 1st, all toll payments on national highways must be made via FASTag collection system, aimed to make...