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 Maharashtra government on Wednesday approved Adani Airport Holdings Ltd (AAHL) to operate the upcoming Navi Mumbai International Airport in the adjoining Thane-Raigad region, an official said here.
The session ensued a detailed discussion about the rising air pollution as well as the steps that need to be taken up by authorities as well as the community to manage the deteriorating air quality.
After Punjab Chief Minister Amarinder Singh met the party panel on the state in the national capital on Tuesday, former Congress President Rahul Gandhi has stepped in to defuse the tension in the state unit. Gandhi has given utmost importance to the state, meeting stake holders who have sought time from him, said sources.
The Delhi police have arrested two men for breaking into a bank in Shahdara area and fleeing with nearly Rs 55 lakh, officials said. Police have also recovered hammer, chisel, and helmets from their possession.
The induction ceremony was held in the holy city of Amritsar, some 300 km from the state capital, where Kejriwal came on a day-long visit.After joining the politics, Kunwar Vijay Pratap blamed the accused of the sacrilege case for dictating the state government.
Prime Minister Narendra Modi has congratulated the people of the country for a record single day vaccination drive on Monday. Expressing happiness over the fact that 80 lakh people got the vaccine jab on Monday, the Prime Minister praised the frontline Corona warriors for their hard work via a Twitter post.
