16 June 2022, Mumbai:
*ONDC (Open Network for Digital Commerce) intends to enable Kirana and the value chain to run digital storefronts transparently with broader logistics and inventory options, analysts posit as the pilot continues in the early days.
The open network for digital commerce (ONDC ). The government-backed initiative aimed at curbing digital monopolies is working on a framework for an in-house settlement system.
koshy expects that it will bring in 'efficiency in processing' payments, especially for new entities. It is said to be ready in a month's time.
A committee with representatives from ONDC, Bombay stock exchange, and National stock exchange as well as from the national payment corporation of India (NPCI) and a few leading banks are evaluating the regulatory framework for the service which can be offered by any service provider on the network.
ONDC which is being pitched as a solution to make the E-Commerce platform agnostic and therefore break the dominance of large etailers.
CREDITS: *ET
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