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 Safdarjung observatory, which recorded 72 mm rainfall for 24 hours ending 8:30 am on Friday, received 41.6 mm rainfall between 2:30 pm and 5:30 pm, data from the India Meteorological Department (IMD) showed.
The deceased Rajesh Kumar sustained multiple injuries and died in Sri Krishna Medical College and Hospital (SKMCH). Deceased's uncle Harendra Ram has alleged that Rajesh was having a love affair with a girl and her parents are involved in his murder.
A couple was found murdered at their residence while their ten-month-old son was spared by the killers. The incident took place on Wednesday in the Mani Ka Pura Mazra village.
Based on a tip-off, the Gujarat ATS arrested Sumra as he landed at Delhi Airport from Dubai. According to the Gujarat ATS, Sumra has been involved in four cases of peddling heroin and other narcotics substances worth Rs 2,500 crore.
After the meeting, she said: "We discussed issues related to road and infrastructure projects, including transport, road connectivity and manufacturing units of electric buses. We have also discussed building some flyovers in Kolkata."
Chief Minister Amarinder Singh on Thursday gave the go-ahead for putting a new Bill for this before the Cabinet, paving the way for its enactment in the next Assembly session.
