IIT Delhi ISRO is to jointly set up ISRO Space Technology Cell:
The Indian Institute of Technology-Delhi (IIT-Delhi) is to collaborate with the Indian space agency, Indian Space Research Organisation (ISRO), to set up a Space Technology Cell (STC). It has also been proposed that IIT-Delhi will become an academic partner of ISRO in research areas like Artificial intelligence (AI), nanotechnology, functional textiles, smart manufacturing or any area of joint interest.
The Space technology cell will be focused to carry out the research projects in the space technology that remains with specific deliverables.
GeM signed MoU with Indian Bank and Canara Bank:
Government e-Marketplace (GeM) signed MoU with Indian Bank and Canara Bank for payment-related services.
About the MoU:
The MoU will provide a paperless, cashless, and transparent payment system on the GeM portal. The agreement will create an efficient procurement system for government entities. The MoU will provide both the banks an opportunity to offer an array of services, including fund transfer through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG), Earnest Money Deposit (EMD) and Payment Gateway to the registered users on the portal.
GeM`s other measures:
♦ Apart from Indian Bank and Canara Bank, GeM works with other banks, Small Industries Development Bank of India (SIDBI), and Trade Receivables electronic Discounting System (TReDs), with a focus to provide financing of working capital and bill discounting.
♦ Currently, the cost of capital is linked to the performance and rating of a seller on GeM. This will ensure to help the sellers to access easy credit and do better business with the government.
♦ The GeM is to create of EMD pool account to make it easy for the sellers to comply with the EMD requirements as they respond to bids.
Government e-Marketplace (GeM):
Ministry of Commerce launched the Government e-Marketplace (GeM) initiative to offer a one-stop platform that provides an online procurement of common use goods and services that are required by various government departments, organizations, Public Sector Units (PSUs). GeM provides transparent tools for Direct Purchase, bidding, and reverse auction for government departments.
######