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.
A man was beaten to death for allegedly disrespecting 'Nishan Sahib' (the Sikh religious flag) at a gurdwara in village Nizampur in Kapurthala district on Sunday. Residents of the village claimed that the man disrespected the Nishan Sahib and tried to run away from the spot.
Talking to the media here after paying obeisance at Sri Darbar Sahib, Channi, who accompanied by Deputy CM Sukhjinder Singh Randhawa, described it as the most heinous act, which has not only hurt religious sentiments but also tormented all, and should be condemned with the harshest possible words by one and all.
"When the officials examined a consignment declared as plastic hot fix with a value of Rs 5,000, they got suspicious. The said consignment was then opened. On examination, a packet containing pouches of cut and polished diamonds was found inside it. These diamonds were concealed very ingeniously in the packets of 'plastic hot fix'," said an official.
Punjab Lok Congress (PLC) chief Amarinder Singh on Friday announced his party's alliance with the Bharatiya Janata Party (BJP) for the 2022 Assembly polls in Punjab.
In a bizarre incident, a man married his own sister at a mass marriage event to obtain money from the Mukhyamantri Samuhik Vivaah Yojana scheme, under which weddings are conducted by the social welfare department.
It is simply not news – although it might be if it were banned in the West, not just in India. For Canada, Britain and the US, freedom of speech is the rule and there's been no effort to silence SFJ. Although this irritates Indian authorities, Western politicians do not pay any price for tolerating speech which voters hardly notice, Milewski said.
