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.
Punjab Chief Minister Amarinder Singh was chairing a review meeting to assess the progress of the corridor project with a team of officers from the Centre.
The robbers came in on a motorcycle and asked for help from the elderly woman. After she helped them, one of them touched her feet. He then pushed her and snatched her gold chain, police said.
“The family is happy with the Centre's decision. My brother has been in jail for the last 24 years and it is a long time,” Kamaldeep Kaur told on Tuesday.
Amarinder Singh has sought more flights from countries like the UK, Canada, USA, Germany, Italy, Australia and New Zealand, so that devotees from across the globe could pay their obeisance at Sultanpur Lodhi and Dera Baba Nanak.
