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.
India had an estimated 1.16 million new cancer cases in 2018, according to a report by the World Health Organisation (WHO), which said that one in 10 Indians would develop cancer during their lifetime and one in 15 would die of the disease.
Mahatma Gandhi's ideology was still alive, as people "who are against us (those who support the CAA) and their leaders have to go to Rajghat and pay tributes," Urmila Matondkar said
Tension spiralled in Jamia Nagar on Thursday after the class 12 student from Jewar town in Gautam Buddh Nagar district of Uttar Pradesh fired a pistol.
Inspired by the imagery of Indian movies of the 1960s, the paintings of Canada-born artist Marcel Dzama at the ongoing India Art Fair reference Indian culture and include details such as Bollywood dancers and regional wildlife.
The 84-year-old Padma Shri recipient and Sahitya Akademi awardee was admitted to the intensive care unit of the hospital with acute congestion in the lungs.
