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 arrest of DSP Davinder Singh with Hizbul Mujahideen terrorists rocked the nation a few months back. DSP Davinder Singh, the once decorated police officer who fell from grace after his arrest has now been granted bail by a Delhi Court since the investigating agency failed to file charge-sheet within 90 days.
10 Indian soldiers have been released after three rounds of talks and intense negotiations through diplomatic and military channels. The Indian soldiers were detained by the Chinese side during the violent brawl of June 15 in Galwan Valley.
The worst clash in decades saw 20 Indian soldiers killed in the India China border conflict. Darpan brings you some of the latest developments in this ongoing story.
According to Indian officials, at least 20 Indian soldiers were killed in a clash with Chinese forces in a disputed Himalayan border area. The incident follows rising tensions, and is the first deadly clash in the border area in at least over 4 decades. The Indian army initially said three of its soldiers had been killed, adding that both sides suffered casualties.
