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.
Naveen Dalal, along with another man, had allegedly attacked Umar Khalid at the Constitution Club in Delhi on August 13 last year. At the time, the two men had told the police that they had planned to disrupt the event that was being held at the Constitution Club.
The Mumbai Congress leader, who has lately been at loggerheads with the party leadership, claimed that Mallikarjun Kharge does not care for the country's religious traditions because he is an "atheist".
Bihar Deputy Chief Minister Sushil Kumar Modi, who is also a senior BJP leader, came out with a statement earlier in the day clarifying that his party or the Sangh Parivar did not have anything to do with the sedition case.
