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.
India's capital allowed businesses and shops to reopen with limited hours and the Delhi Metro, which serves New Delhi and adjoining areas, also resumed operations at 50% capacity.
After Upendra Kushwaha and Sanjay Singh, Umesh Thakur, the Siwan district president of the JD-U, jumped into the fray and said that Pandey has a long criminal history. He had also molested a young girl in a train.
The Shiromani Akali Dal (SAD) on Friday condemned the Congress government in Punjab for allegedly discriminating against teachers and forcing them to come to the streets, and asked state Education Minister Vijay Inder Singla not to behave in an 'arrogant' and 'dictatorial' manner and resolve the grievances of government school teachers immediately.
Shiromani Akali Dal (SAD) president Sukhbir Badal on Thursday demanded a high court monitored probe into the manner in which the Congress government in Punjab was playing with the people's lives by creating an artificial shortage of vaccines by selling vaccine doses at a hefty profit to private hospitals.
The electronic conversation took place as US President Joe Biden announced on Thursday that India will receive Covid vaccines directly from the US stockpile, the White House said.
The Chief of Army Staff (COAS), General M.M. Naravane, reached Kashmir on Wednesday on a two-day visit to review the prevailing security situation in the Union Territory (UT), the army said in a statement.
