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 Cabinet Committee on Security (CCS) led by Prime Minister Narendra Modi along with the country's top security officers held a meeting on Wednesday over the situation arising out of the IAF chopper crash in Tamil Nadu that killed Chief of Defence Staff General Bipin Rawat, his wife and 11 others onboard the ill-fated helicopter.
The Samyukta Kisan Morcha (SKM), the umbrella body of the farmers protesting along the borders of the national capital over agricultural issues, have agreed to the draft proposal prepared by the Central government, and is expected make a "major announcement" on Thursday. A meeting is likely to be held on Thursday noon to decide the further strategy of the movement.
Former Punjab Chief Minister Amarinder Singh on Tuesday lashed out at the Congress high command for appointing Ajay Maken as the Chairman of the screening committee for shortlisting candidates for the next Vidhan Sabha elections in Punjab. In a statement here, Amarinder Singh said Maken is the nephew of (late) Lalit Maken, who was one of the main culprits of the 1984 anti-Sikh riots in Delhi.
Aam Aadmi Party (AAP) national convener and Delhi Chief Minister Arvind Kejriwal on Tuesday said the sand mafia in Punjab alone runs illegal business of over Rs 20,000 crore. There are serious allegations of direct involvement of ruling Congress MLAs, their ministers and their close associates, including the Chief Minister himself.
Farmers' agitation on the borders of the national capital is likely to end soon as the Centre on Tuesday gave a written assurance on their demands. After a meeting in the evening, the Samyukt Kisan Morcha (SKM), which is spear-heading the agitation, said that they will meet again on Wednesday as they have sought some clarifications from the government on its communication.
Accompanied by a high-level delegation, Putin visited New Delhi for the 21st India-Russia annual summit. He extended an invitation to Modi to visit Russia for the 22nd India-Russia Annual Summit in 2022.
