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 Samyukt Kisan Morcha has decided to organise a nationwide protest on March 21, regarding the role of the government in the Lakhimpur Kheri incident, and the betrayal of the assurances given to the farmers' movement.
The Indian delegation was led by Ministry of External Affairs's Secretary, East, Saurabh Kumar, while the Canadian delegation was led by Deputy Minister of Foreign and Global Affairs Marta Morgan.
As many as eight people were reportedly trapped after a building collapsed in North Delhi's Kashmere Gate area on Monday evening. The fire department received the information about the incident at around 5:25 pm.
The Bureau of Civil Aviation Security (BCAS) amended its order issued on March 4 by deleting the para restricting the entry of Sikh employees inside the airport carrying 'kirpan' of specified size. The new order issued on March 12 restored the position prior to March 4.
A former captain of the Indian kabaddi team, Sandeep hailed from Nangal Ambian village in Shahkot. He is survived by his wife and two sons, who are currently in England, where he was settled.
All the Badals, led by five-time Chief Minister Parkash Singh Badal, the eldest candidate at 94 in fray for the 117-member Punjab Assembly, as well as their kin, on Thursday lost to AAP's greenhorns.
