Cabinet allows procurement by cooperatives through GeM portal

02 Jun 2022 Evaluate

The Union Cabinet has approved a proposal to expand the mandate of Government e-Marketplace (GeM) by allowing procurement by cooperatives. Presently, the registration of cooperatives as buyers was not covered within the existing mandate of GeM. The move will help over 8.54 lakh registered cooperatives and their 27 crore members as they would get products at competitive rates from the GeM portal. As per the existing mandate, goods and services registered at the GeM portal are not available for use by private sector buyers. Suppliers (sellers) can be from across all segments - government or private.

The GeM was launched on August 9, 2016, by the commerce ministry to create an open and transparent procurement platform for government buyers. At present, the platform is open for procurement by all government buyers -- central and state ministries, departments, public sector enterprises, autonomous institutions and local bodies. Allowing cooperative societies to register on GeM as buyers would help cooperatives in getting competitive prices through an open and transparent process. The validated list of cooperatives to be onboarded on GeM - for the pilot as well as subsequent scale-up - will be decided by the Ministry of Cooperation in consultation with GeM special purpose vehicle (SPV). This will ensure that the technical capacity and logistics requirements of the GeM system are taken into account while deciding the pace of onboarding of cooperatives as buyers on GeM.

GeM will provide a dedicated onboarding process for cooperatives, technical infrastructure to support additional users on existing portals, as well as assistance to cooperatives for onboarding and transaction journey via available contact centres, in-field training and other support services. The Ministry of Cooperation will issue necessary advisories to encourage the cooperative societies to make use of the GeM platform for the procurement of goods and services to benefit from increased transparency, efficiency and competitive prices. To protect the interests of the broader seller community on GeM and ensure timely payments, the modalities of payment systems shall be decided by GeM in consultation with the Ministry of Cooperation.

GeM will initiate suitable actions, including the creation of necessary features and functionalities on the GeM portal, up-gradation of infrastructure, strengthening of the helpdesk and training ecosystem and onboarding of cooperatives. The overall pace and mechanism of roll-out would be decided by the Ministry of Cooperation. The milestones and target dates will be aligned mutually between the ministry and GeM.

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.