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.
Shiromani Akali Dal (SAD) President Sukhbir Singh Badal on Thursday congratulated the farmers for their historic victory whereby they had not only forced the BJP-led Central government to repeal the three agricultural laws, but had also paved the way for making the minimum support price (MSP) a legal right.
Lieutenant Colonel Harjinder Singh who died in the tragic helicopter crash along with the Chief of Defence Staff, General Bipin Rawat and others, had been married to Prafulla from Karnataka. Prafulla is the native of Salmaru village near Karkala town in Udupi district. A pall of gloom descended on the family after the news of the tragedy broke out.
The force said that positive identification of only three mortal remains -- Gen Rawat, Madhulika Rawat and Brig L.S. Lidder -- has been possible as of now, and their mortal remains will be released to the next of kin for final rites as desired by the respective families.
Almost 15 months after the farmers' agitation began against the (now scrapped) farm laws and other issues, the Samyukt Kisan Morcha (SKM), an umbrella body of farmer unions that led the protest, said on Thursday that it has suspended the agaitation after receiving positive assurances from the government on their demands, adding that the borders of Delhi will be cleared by Saturday.
India's civil aviation regulator, the DGCA, on Thursday extended the ban on scheduled international commercial flights till January 31.Earlier, India had announced plans to allow resumption of scheduled commercial international passenger services from December 15 with certain conditions.
