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.
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In a statement here, he said the worst has started coming true as the Taliban have started showing their true colours by way of complete intolerance towards the minorities leading to their intimidation and destruction of their religious places.
Rahul Gandhi, Priyanka Gandhi and other leaders met the family of deceased farmer Lovepreet at the Chaukhada farm in Palia at around 9 p.m. on Wednesday. They later met the family of journalist Raman Kashyap, who was also killed in violence.
9 persons, including four farmers, were killed in the violence that had erupted during a farmers' protest in Lakhimpur Kheri. A bench headed by Chief Justice N.V. Ramana and comprising justices Surya Kant and Hima Kohli will hear the matter on Thursday. The matter has been listed as 'violence in Lakhimpur Kheri (UP) leading to loss of life'.
Canadian MP Tim S. Uppal said he was shocked to learn about the brazen attack on protesting farmers. Another Canadian MP Ruby Sahota said she was heartbroken to learn about the violence directed at protesting farmers.
