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.
Delhi Education Minister Manish Sisodia on Monday once again asked the Congress-led Punjab government for the details of the 250 government schools to compare the education models of both the states.
Former Punjab Chief Minister and Congress rebel Amarinder Singh on Monday called on Haryana Chief Minister and BJP leader Manohar Lal Khattar here. The duo described the surprise meeting as 'courtesy call'.
A 39-year-old South Africa returnee was retested on Monday and turned out to be positive for Covid-19, the Chandigarh administration said.One of his family members and domestic help were also tested positive for the virus.
A massive earthquake measuring 6.1 on the Richter scale occurred along the Mizoram-Myanmar border on Friday, which was shook parts of Assam, Manipur, Tripura and the adjoining areas of northeast region, authorities said, adding that there were no reported damages or deaths.
Maharashtra Governor Bhagat Singh Koshyari led the state by solemnly laying wreaths at the Martyrs' Memorial erected inside the Mumbai Police Commissionerate premises near Crawford Market in south Mumbai.
Amarinder Singh said in a statement here that although he owed no explanation to "an out of job legislator who has been sacked as a minister in Rajasthan for being named as an accused in murder case of Kamlesh Prajapat, in Barmer, and inquiry for which has been handed over to the CBI by Rajasthan Chief Minister Ashok Ghelot", he still wanted to set the record straight.
