Bank of India supports India’s bold Open Ecommerce Project ONDC


The private placement investment of INR 10 million by the state-owned Bank of India in the government-backed ecommerce venture Open Network for Digital Commerce was made by the Bank of India. 

The bank will own 5.56% of ONDC once the transaction is complete.

Read more BYJU’S failed again to pay Blackstone’s bills

One million equity shares were purchased by the Bank of India at INR 100 each. The transaction is expected to be completed in the second quarter of fiscal 2022-23. (September-end).

 ONDC was established as a private non-profit corporation. It will enable sellers from many industries to list on the platform, and offer a range of services to customers from one location.

Read more Freshsharp, raises $125K under the leadership of Ok Acquired


Please enter your comment!
Please enter your name here

Share post:




More like this

ERP Modules: Types and Characteristics

Multiple options might be discovered while examining business management...

Agritech start-up Otipy is appointing Rohit Sood as its chief executive officer

Rohit Sood has been selected to be the chief...

Nykaa Q2: Profits up 333% year-over-year to the sum of Rs 5.2 crore Revenue up 39%

The second quarter in the fiscal year currently in...

Decentro is a fintech company has received $4.7M in the Series A round of capital

Funded by Y Combinator, a banking and payments API...