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 top court said it has found Mallya guilty of contempt and punishment has to be imposed. It added that going by normal logic, the contemnor has to be heard, but he has not appeared before the court so far.
After the historic victory of the Aam Aadmi Party (AAP) in Punjab, Bhagwant Mann on Thursday said the oath-taking of the state's new cabinet would be held in martyr Bhagat Singh's ancestral village.
Prime Minister Narendra Modi on Thursday congratulated the Aam Aadmi Party (AAP) for its clean sweep in the Punjab Assembly elections, and assured the party of all possible help from the Centre.
While the bookies are betting on the basis of per seat in Punjab and Uttar Pradesh, in Goa and Uttarakhand, they are betting on forming the government. In Punjab, they are giving the AAP 40 paise against a rupee, predicting a possible AAP government in the state.
The Commission also said elaborate and full proof arrangements have been made at all the counting centres. All strong rooms, where polled EVMs are kept, are under three-layered security with inner cordon manned by central armed police forces and the candidates concerned have been watching the strong room arrangements through CCTV coverage of 24x7.
The police recovered 1.1 kg of gold, 1.9 kg of silver articles and a bike from the accused persons. The arrested persons are identified as Karate Seena a.k.a Srinivas, Kokkare Satish and Tejas, all residents of north Bengaluru.
