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.
Nearly two months after the revocation of Article 370 and 35A in the erstwhile state of Jammu and Kashmir, scores of broke Kashmiri students here have resorted to a novel initiative - selling Kashmiri apples to make some extra cash for survival.
Ayodhya Case: "It is not expected that every page is to be signed. The authorship of the report and the summary need not be questioned. If we had wasted my lords time, then we apologise for that. There is no point going into that," senior advocate Rajeev Dhavan said.
The man was handed over to the Customs department as he could not explain the reason for carrying such a huge quantity of the feathers, the police said.
Arunachal Pradesh Chief Minister Pema Khandu on Monday congratulated Army officer Ponung Doming, who became the first woman officer from the state to be elevated to the rank of Lieutenant Colonel in the Indian Army.
