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.
Punjab Chief Minister Charanjit Singh Channi on Thursday made a slew of historical announcements for the Christian community, including setting up of a Chair at university level for the study of the Bible. In his address here, the Chief Minister said that Christians would be given due representation in the state government boards.
The commission's team also comprises three Deputy Election Commissioners, Chandra Bhushan Kumar, Nitesh Vyas and T. Sreekanth, besides Director General Sheyphali B. Sharan.
According to the official, an FIR was registered under sections 380, 457 and 34 of the Indian Penal Code at Jagatpuri police station where the complainant stated that a cash of Rs 5 lakh and jewellery have been stolen from his house while he was outside home in an engagement function of his daughter.
Addressing members of industrial associations, who called on Channi here in the presence of Local Government Minister Brahm Mohindra, he said that most of their demands have already been met as promised by him during the Punjab Investors' Summit.
A Rajya Sabha member and close aide of Congress president Sonia Gandhi, her inception in Punjab affairs has caused suspicion among the leaders in Punjab who were fighting a turf war. Soni could be reckoned to be the choice of the high command if Congress returns to power as a consensus candidate.
The new limit will apply to both Indian passport holders as well as persons of Indian origin carrying the Overseas Citizen of India card travelling to the Gurdwara Darbar Sahib in Narowal district of Pakistan's Punjab province through Kartarpur corridor.
