The Government e-Marketplace (GeM) is an innovative platform launched in 2016. It aims to enable transparent and efficient e-procurement of commonly used goods and services by government entities, public sector units, and state governments. By connecting buyers and sellers, GeM streamlines the procurement process, enhancing productivity.
The Sahay-GeM Ecosystem is a revolutionary digital framework that empowers sellers within the GeM platform to access unsecured, short-tenure loans, known as Sahay Loans. This initiative fosters a robust financial ecosystem, seamlessly linking willing sellers with lenders to support business growth.
This ecosystem offers sellers the opportunity to connect with lenders eager to extend unsecured loans. The collaboration occurs directly through the GeM platform, which streamlines the lending process, ensuring a smooth experience for both sellers and lenders.
The Sahay-GeM Ecosystem is aligned with India's vision of fostering economic growth by providing essential financial support to businesses. By creating an environment where sellers can easily secure loans and lenders can contribute to business expansion, this ecosystem promotes a vibrant and thriving economy.
The Sahay-GeM Ecosystem exemplifies GeM's commitment to innovation and inclusivity. It enables businesses to unlock their full potential and drive progress within India’s marketplace.
Q1. What is the primary purpose of the Government e-Marketplace (GeM)?
Answer: GeM facilitates transparent and efficient e-procurement of goods and services for government entities, enhancing the procurement process.
Q2. How can sellers benefit from the Sahay-GeM Ecosystem?
Answer: Sellers can access unsecured Sahay Loans, providing them with crucial working capital to fulfill orders and expand their business operations.
Q3. What type of loans does the Sahay-GeM Ecosystem offer?
Answer: The ecosystem offers short-tenure, unsecured loans that do not require collateral, making financing accessible for sellers.
Q4. How does the Sahay-GeM Ecosystem promote financial inclusion?
Answer: It benefits all sellers, including sole proprietors, ensuring they have access to financial resources necessary for business growth.
Q5. What is the significance of the willing seller-willing lender model?
Answer: This model fosters a collaborative environment where both sellers and lenders participate voluntarily, promoting mutual benefits and trust.
Question 1: What year was the Government e-Marketplace (GeM) launched?
A) 2014
B) 2015
C) 2016
D) 2017
Correct Answer: C
Question 2: What type of loans does the Sahay-GeM Ecosystem provide?
A) Secured Loans
B) Unsecured Sahay Loans
C) Long-term Loans
D) Personal Loans
Correct Answer: B
Question 3: Who can benefit from the Sahay-GeM Ecosystem?
A) Only large corporations
B) Sole proprietors and small businesses
C) Government entities only
D) Importers only
Correct Answer: B
Question 4: What is a key feature of the Sahay Loans?
A) High-interest rates
B) Need for collateral
C) Short-tenure loans
D) Long approval times
Correct Answer: C
Question 5: What is the main goal of the Sahay-GeM Ecosystem?
A) To increase taxes
B) To enhance business financing and growth
C) To create government jobs
D) To reduce imports
Correct Answer: B
Question 6: The Sahay-GeM Ecosystem aims to drive which of the following?
A) Economic growth
B) Bureaucratic delays
C) Increased regulations
D) Inflation
Correct Answer: A
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