The Government eMarketplace (GeM) is all set to introduce its mobile-based lending platform, GeM Sahay 2.0, which will offer collateral-free loans of up to Rs 10 lakh to GeM sellers. The loan approval process will be completed within 10 minutes, and efforts will be made to bring more banks on board and reduce interest rates to below 10%. GeM has already disbursed approximately Rs 21 crore in loans to sellers, and currently, there are 213,000 active businesses that offer 3.6 million products on the platform. The GeM Sahay platform offers credit facilities that are based on purchase orders. The platform has partnered with banks such as ICICI Bank, Kotak Mahindra Bank, and Union Bank to facilitate lending. The primary goal of the platform is to promote financial inclusion and to encourage procurement from micro and small enterprises (MSEs) through the GeM marketplace.