New Delhi, March 24 (IANS) Lending major Punjab National Bank (PNB) has acquired a 5.97 per cent stake in Open Network for Digital Commerce (ONDC) in the first tranche.
ONDC is an initiative of the Ministry of Commerce and Industry to promote open networks for all aspects of the exchange of goods and services over digital networks.
It was incorporated on December 30, 2021, with an early investment from the Quality Council of India (QCI) and Protean eGov Technologies.
ONDC is expected to digitise the entire value chain, standardise operations, promote inclusion of suppliers, derive efficiencies in logistics, and enhance value for consumers for almost all types of businesses.
"In the current platform-centric digital commerce model, buyers and sellers must use the same platform or application to do a business transaction," PNB said in a statement.
"With ONDC's network-centric model, buyers will be able to access all services currently provided by various sellers on different platforms, on a common network, thus making the network interoperable," it added.
In its earlier meeting, the board of PNB had approved investing in ONDC with an equity participation of 9.5 per cent.
"Accordingly, the bank has invested Rs 10 crore for acquiring a 5.97 per cent stake of ONDC in its first tranche, as per the directives of its board," the statement said.
Apprising the Prime Minister about pathetic fiscal position of the state, he said the previous governments have left a whopping burden of Rs 3 lakh crore on the state and demanded immediate financial package of Rs 50,000 crore each for two years to put the derailed economy on the rails.
The meeting witnessed freewheeling interaction by the Prime Minister with the delegation on diverse topics like farmer welfare, youth empowerment, drug free society, National Educational Policy, skilling, employment, technology and Punjab's overall development trajectory.
The students will be provided jobs in Punjab and the UAE, Canada, Europe, Japan and other countries. Sahney is already running two World Skill Centres in New Delhi and Amritsar, providing free skills and jobs to thousands of youth.
The Gurugram police had put up barricades at several entry points on the National Highway, at Shankar Chowk, Iffco Chowk, Signature Tower, Rajiv Chowk and Hero Honda Chowk on the Expressway.
The toffees, according to reports, had been thrown outside their houses and the children picked them and ate them. Chief Minister Yogi Adityanath has expressed grief over the incident and ordered a probe and directed officials concerned to provide relief to the bereaved families and take necessary action in the matter.
All the victims were migrant workers from Chapra district Bihar and were asleep when the fire broke out. Barring one, the rest were between 23 and 35 years of age. Short circuit is suspected to have caused the fire.
