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.
In his address in the Assembly's special session to mark the commemoration of 400th Prakash Purb of Guru Tegh Bahadur, he stressed that the Sikh faith is distinguished by the tradition of martyrdom to uphold principles and righteousness given to "us by our great Gurus".
A total of 40.8 per cent people have shown satisfaction with Congress leader Rahul Gandhi in the five states going to the polls next year, while 41.3 per cent showed dissatisfaction with him, as per the ABP-CVOTER-IANS BATTLE FOR THE STATES - WAVE 1.
According to the ABP-CVOTER-IANS BATTLE FOR THE STATES - WAVE 1, the goodwill of the Union government remains the same except in Punjab, which is up against the Centre over the three farm laws.
The survey found that overall, 13.3 per cent said the 'country is moving forward but not my life', 29.3 per cent said the 'country is moving forward and my life too', while 5 per cent said that 'life is improving but the country is in poor state'.
A day earlier, Customs officials had recovered 495 grams of gold valued at Rs 24.14 lakh from a passenger on his arrival from Dubai. The gold was concealed in various items like a blender, facial cream box, and sandals. A case for smuggling of gold was registered. Further investigation is in progress, an official said.
The survey, conducted in the five poll-bound states of Punjab, Uttar Pradesh, Uttarakhand, Goa and Manipur, revealed that about 51 per cent respondents in Punjab are not satisfied at all with work of the MLA of their respective areas.
