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.
To be headed by the Chief Minister, the group will have Local Government Minister Brahm Mohindra, Finance Minister Manpreet Singh Badal and Social Security Minister Aruna Chaudhary as members, along with Sidhu, the four party working presidents -- Kuljit Singh Nagra, Sukhwinder Singh Danny, Sangat Singh Gilzian and Pawan Goel, besides Pargat Singh.
After paying floral tributes to the former Prime Minister at Central Hall of Parliament, Defence Minister Singh tweeted, "Paid tributes to former Prime Minister of India, Rajiv Gandhi ji on his birth anniversary at Parliament House today."
Microsoft and MAQ Software will set up their units in Noida whereas PepsiCo has started construction of its factory in Mathura, said an Industrial Department official.
Stressing that Rajiv Gandhi was a close friend, Amarinder Singh recalled that he always used ask when the day will come when people will have their own houses to live and India would be free from poverty. He, therefore, thought it apt to launch this scheme on the birth anniversary of Rajiv Gandhi, said the Chief Minister, adding that the Congress had fighting for the people for the last 130 years.
Sisodia, who is also the nodal minister for Covid management in the national capital, stated that no one can deny that Delhi grappled with an oxygen shortage during the peak of the second wave of the Covid pandemic (April-May) and several people died due to oxygen shortage.
Speaking at the meeting, Sonia Gandhi said, "Monsoon session of Parliament was a complete washout entirely due to the government's obstinate and arrogant unwillingness to discuss and debate urgent issues of public importance."
