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.
After the meeting of Rahul Gandhi with Chhattisgarh Chief Minister Bhupesh Baghel and T.S. Singh Deo, it is widely expected that the state could see a minor portfolio reshuffle. Singh Deo may be given more importance in the cabinet and it's likely he may be allotted a portfolio soon. Currently he holds the health portfolio.
Chief Minister Amarinder Singh said he will invite Vice President Venkaiah Naidu, Punjab Governor V.P. Badnore and former Prime Minister Manmohan Singh as guests at the special session.
Chidambaram was addressing a press conference at the fag-end of his two-day visit to the state in the capacity as the All India Congress Committee's senior observer in charge of Goa ahead of the 2022 state assembly polls.
Punjab annually generates 20 million tonnes of paddy straw and this is normally set on fire to quickly clear the fields for the next crop, resulting in choking of the National Capital Region (NCR) in October and November.
Priyanka's remarks came after farmers on Tuesday evening vacated the railway tracks and highways in Punjab after the Amarinder Singh government accepted the demands of the sugarcane farmers.
The 'rebel' legislators reached Dehradun in the morning to apprise Rawat about the mood of the public against the Amarinder Singh-led government in the state. They, among 20-odd party legislators, have been demanding replacement of Amarinder Singh as he failed to fulfill the 2017 poll promises.
