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.
Unveiling the first set of plans in his Punjab Model with focus on resurrection of Punjab, Sidhu, in the absence of Chief Minister Charanjit Singh Channi and his Cabinet colleagues, told the media here: "Punjab Model is people's model, an effort to give a roadmap to return power to people."
Union Minister Hardeep Singh Puri on Tuesday said that he "personally" feels that alliance with the Shiromani Akali Dal (SAD) in Punjab had cost the BJP heavily.
India on Tuesday recorded 1,68,063 new Covid cases, taking the total tally to 8,21,446. Although the fresh infections were 6.4 per cent less than Monday when the country logged 1,79,723, the weekly positivity rate has climbed to 8.85 per cent and the daily positivity rate has declined to 10.64 per cent. On the other hand, 4,461 Omicron cases were recorded from 28 states.
Delhi reported a 25 per cent surge in Covid-19 cases after recording 19,166 fresh cases. With this, the infection tally has climbed to 15,68,896. Meanwhile, the city has recorded 17 Covid deaths on the second consecutive day, pushing the death toll to 25,177.
On Monday, after a detailed hearing in the matter, a bench, headed by Chief Justice N.V. Ramana and comprising Justices Surya Kant and Hima Kohli, said the court will set up a committee headed by a retired top court judge to probe the PM's security breach and asked both the Centre and Punjab government to not move ahead with their respective inquiries into the matter.
Several Supreme Court advocates on Monday claimed to have received an international call with a recorded message asking the apex court not to help the Central government by taking up a case connected with Prime Minister Narendra Modi's security breach in Punjab last week.
