SBI is slow to use the GeM platform for procurement, falls behind its smaller competitors

22 May 2023 , 07:59 AM

According to official data, SBI, the largest lender in India, trailed behind smaller competitors like Canara Bank and Punjab National Bank in 2022–2023 when it came to purchasing goods and services via the government-owned GeM platform.

With total purchases through the portal of Rs 592.82 crore, Canara Bank emerged as the main buyer among the state-owned lenders in 2022–2023, according to the statistics.

All central government ministries and departments can now purchase products and services online thanks to the GeM site, which went live on August 9, 2016.

More than 62 lakh vendors and service providers are part of GeM, which includes over 63,000 government buyer entities and offers a wide range of goods and services.

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