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.
The Bharatiya Janata Party's (BJP) Kulgam Kisan Morcha President and his wife were shot dead by suspected terrorists in Jammu and Kashmir's Anantnag district on Monday, sources said.
Director General of Police, Punjab, Dinkar Gupta said that following inputs regarding drone activity in the area, a massive combing operation was launched.
State NCP President and Water Resources Minister Jayant Patil, Mumbai party President and Minister Nawab Malik and others visited the martyrs' memorial at the August Kranti Maidan in south Mumbai and paid homage to those who sacrificed their lives for the country's Independence.
He was the prime mover behind the letter written to interim party chief Sonia Gandhi calling for wide-ranging reforms and is also seen one of the leaders who has serious differences with the working of Rahul Gandhi.
Former Punjab Deputy Chief Minister Punjab Sukhbir Singh Badal on Monday urged the Centre and the state governments "to fully acknowledge and honour the contribution of each and every player, in addition to the medal winners, who represented the country at the Tokyo Olympics".
The 'Skytrax World Airport' awards are considered to be the most significant accolade for the airport industry, voted by customers in the largest, annual global airport customer satisfaction survey.
