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GeM Sahay

Overview

IDBI Bank's GeM Sahay: Empowering MSMEs through Seamless Financing.

IDBI Bank's GeM Sahay is a digital lending solution designed to provide quick and hassle-free access to working capital for Micro, Small, and Medium Enterprises (MSMEs) selling their products and services on the Government e-Marketplace (GeM). This product leverages the power of digital technology and GeM data to offer pre-approved loan offers, simplifying the financing process for MSMEs.

Key Features and Benefits

  • Quick and Digital Processing: Enjoy a streamlined loan application and disbursement process through our online platform.
  • Pre-Approved Loan Offers: Based on your GeM transaction history, receive pre-approved loan offers, eliminating lengthy documentation.
  • Collateral-Free Loans: Access working capital without the need for traditional collateral.
  • Competitive Interest Rates: Benefit from competitive interest rates tailored to your business needs.
  • Flexible Repayment Options: Choose repayment options that align with your cash flow.
  • Enhanced Financial Inclusion: Expand your business opportunities by accessing timely and affordable credit.
  • Data-Driven Decision Making: Leveraging GeM transaction data for faster and efficient credit assessment.

Eligibility Criteria

  • MSMEs registered on the GeM portal.
  • Satisfactory transaction history on GeM.
  • Compliance with IDBI Bank's internal credit policies.
Product paper MSME GEMSAHAY
No. Features Details
1 Target Clientele, and Eligibility Criteria
  • Sole proprietorship concerns listed on GeM portal and having GSTN.
  • Applicant should be filing GST return since, last 2 years
  • 4+ rating and transactions with GeM in the last 12 months.
  • Sellers are advised not to raise invoices for POs that they wish to finance
  • Should have Purchase Orders with payment types as PFMS, GeM Pool and CRPF Online account.
  • Funding for restricted items as per extant credit policy will be excluded based on their HSN codes.
  • In case applicant is not an existing customer of the Bank he should possess Udyam Certificate issued by the Ministry of MSME, India.
2 Nature of assistance on offer Purchase order Bill Discounting  
3 Purpose of loan To provide collateral free small business loans (Term Loans with average tenure of 105 days) to eligible sellers against confirmed purchase orders issued by the CPSEs and various Govt. Depts on the GeM portal.
4 Amount of Loan/ Facility Minimum: Rs.40,000/-
Maximum: Rs.10,00,000/-
  • Maximum 3 PO’s or Rs.20 Lakh to a single applicant at any given point of time.
#PO : Minimum Rs.50,000/- and maximum Rs.10 lakh.
5 Margin 20% of the PO amount
6 Maximum Repayment Period Inclusive of Moratorium Minimum: -21 days
Maximum: - 105 days
(Including 15 days buffer period for repayment after completion of the due date for fulfilling the order)
Borrower has 2 options to repay the loan:
  1. Pay Now solution: GeM app gives the user the option to repay the loan using a Pay Now button. In this case the user makes the payment in a lender provided URL against the loan. Payment gateway services will be availed from empaneled vendor and cost of the same may be subsumed in the ROI.
  2. Through Escrow account:  GeM has instituted an escrow account in partnership with ICICI Bank wherein settlement can be automated after receipt of payment from the Buyer.
# As per Digital Lending Policy free look period of 5 days is to be provided to the borrower
7 LTV 80% of the Accepted Pay Order
8 Pricing- 12% p.a. fixed
9 Interest Servicing At the time of Repayment
10 Documentation Agreement to be executed with the seller
11 Others
  • Customer details :- GeM Seller Profile (Vintage, Ratings), GST Profile, PAN
  • Purchase order data
  • Bureau report (soft-pull) :- Score, Total exposure, Trade lines
  • Past loan applications with IDBI Bank on GeM Sahay
  • Exposure on IDBI Bank with GeM Sahay
  • Anything else to be considered / limit setting APIs / default limits

How to Apply

1

Visit the GeM Sahay portal
Click Here

2

Authenticate using your GeM credentials.

3

View your pre-approved loan offer.

4

Complete the online application process.

5

Receive quick disbursement upon approval.

Required Documents (Subject to change based on specific cases)

  • GeM Registration Certificate/ID
  • Existing customer of IDBI Bank

Nodal Grievance Redressal

IDBI Bank is committed to providing excellent customer service. For any grievances related to the GeM Sahay product, please contact our Nodal Grievance Redressal Officer:

Shri Deepak Bhaskar Shejwal
Designation: DGM

For escalated grievances, customers may also contact the Banking Ombudsman as per the Reserve Bank of India's Integrated Ombudsman Scheme.

LSP (Loan Service Provider)

Present LSP Is GemSahay.

Data Policy Update

IDBI Bank is committed to protecting the privacy and security of your data. Our data policy outlines how we collect, use, and protect your information.

  • We collect data necessary for processing your loan application and providing related services.
  • We use your data to assess your creditworthiness, manage your loan account, and comply with regulatory requirements.
  • We implement robust security measures to protect your data from unauthorized access and disclosure.
  • We may share data with authorized third parties for specific purposes, such as credit bureaus or regulatory authorities, with your consent or as required by law.
  • For detailed information please refer to our full data policy document available on our website.

Privacy Policy

IDBI Bank's Privacy Policy details our commitment to safeguarding your personal information.

  • We collect personal information only for legitimate business purposes.
  • We maintain strict confidentiality of your personal information.
  • We provide you with choices regarding the collection and use of your personal information.
  • We adhere to all applicable privacy laws and regulations.
  • For detailed information please refer to our full Privacy Policy document available on our website.

Important Links

IDBI Bank is committed to protecting the privacy and security of your data. Our data policy outlines how we collect, use, and protect your information.

Disclaimer

  • Loan approval is subject to IDBI Bank's credit policies and discretion.
  • Terms and conditions apply.
  • Interest rates are subject to change.
  • Information provided is subject to change. Please refer to the most updated version on the official IDBI bank website.