In a move aimed at boosting transparency and efficiency in cooperative procurement, the Union Ministry of Cooperation has decided to allow all cooperative societies and cooperative banks, irrespective of their turnover, to be onboarded on the Government e-Marketplace (GeM) platform.
As per a communication issued by Rabindra Kumar, Additional Secretary and Central Registrar of Cooperative Societies, the decision marks a significant expansion from the earlier policy, which limited GeM participation to cooperatives with turnover or deposits exceeding Rs 100 crore and possessing an ‘A’ grade audit rating.
The latest order states that even societies and banks with turnover or deposits below Rs 100 crore, having ‘A’ grade audit ratings (where applicable) and willing to join GeM, will now be eligible for onboarding.
The directive, addressed to the Chief Secretaries and Advisors to Administrators of all States and Union Territories, instructs authorities to take necessary action to facilitate the participation of eligible cooperatives.
This initiative aligns with the Ministry’s broader vision to enhance digital integration and governance within the cooperative sector, ensuring ease of doing business and promoting competitive pricing through wider market access.