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.
Tamil Nadu farmers association Deputy Secretary, P.S. Masilamani, who had participated in the farmers' agitation in New Delhi, told IANS that the farmers of Cauvery delta are "disturbed and outraged by the mowing down of fellow farmers and we are conducting peaceful protest marches in solidarity with the farmers of Lakhimpur Kheri."
A total of 28 civilians have been killed by terrorists in Kashmir in 2021, IG Kashmir Vijay Kumar said in a statement on Thursday. The statement further said that in all such cases, the terrorists used pistols.
Farmers allege that the minister's son was in one of the cars that mowed the farmers. Ashish has been named in the FIR lodged in connection with the incident under IPC Section 302 (murder).
Fortunately, no one is injured in the incident, which was the fourth such case in Bengaluru in the last 15 days. The families who lived in the apartment managed to escape as soon as they got the first indication.
According to the farmer leaders, the last rites of three farmers was performed as wish of their families and with full customs. While one family, demanding the re-postmortem, has refused to perform the cremation.
The Deputy Chief Minister, who is also holding the Health portfolio, said 2.16 lakh people got vaccinated on Tuesday. Ludhiana, Jalandhar, Amritsar, Hoshiarpur and Patiala were the top five districts in immunisation.
