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 arrested man has been identified as Yudhvir Singh of Jandiala Guru in Amritsar. He was a proclaimed offender and wanted in various NDPS cases. The police also recovered a high-end car from the accused.
In a major decision to regularise the services of nearly 36,000 employees ahead of the Assembly elections, the Punjab Cabinet on Tuesday approved the Punjab Protection and Regularisation of Contractual Employees Bill, 2021 to be introduced in the forthcoming Vidhan Sabha session for enactment.
The Punjab Cabinet on Tuesday accepted the resignation of Advocate General A.P.S. Deol -- a decision that is seen in political circles as lessening the "friction" between Chief Minister Charanjit Channi and Congress state chief Navjot Sidhu.
To curb air pollution emitting from open fires in the national capital, Delhi Environment Minister Gopal Rai on Tuesday announced to launch an anti-open burning campaign under which 550 teams from various departments will be deployed in the city to keep a check on burning in open spaces.
A two-time councilor from Jhilmil ward and an MLA from Shahdara, Shunty has been running the foundation since 25 years which provides free ambulance services for the poor.
Randhawa in a statement here said the former Chief Minister, who also held the Home Portfolio, had then ordered the reinstatement of the police officer while withholding just one increment despite the then Additional Chief Secretary, Home, not writing in favour of the officer.
