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 Punjab government had announced its ''Mobile Phones to the Youth'' scheme, in line with its poll promise, in its budget for the financial year 2017-18.
According to extracts of the 752-page book, published by HarperCollins, Cameron says: "I got on well with PM Manmohan Singh. He was a saintly man, but he was robust on the threats India faced.
Come the next full moon in October, many more Taj Mahal lovers will be able to view the iconic 17th century monument to eternal love from a spot across the Yamuna river that has been newly developed by the authorities.
Anand Kumar has been running a highly innovative Super 30 programme for the last 18 years to mentor 30 students free of cost through a year-long residential coaching for India's premiere IIT-JEE.
Pakistan on Wednesday refused to grant overflight to Prime Minister Narendra Modi's aircraft due to India's removal of Article 370 in Jammu and Kashmir.
The Supreme Court on Wednesday told the Muslim parties that Hindus may have attached divinity to the central dome at the disputed structure in Ayodhya, and that they prayed to it.
