NPCI gets nod to acquire 10% stake in e-commerce network ONDC
05 Sep 2022
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The National Payments Corporation of India (NPCI) has received approval from the Reserve Bank of India and the union ministry of finance to acquire a 10 per cent stake in the Open Network for Digital Commerce (ONDC), India's open source platform for e-commerce.
Bank of India is also in the process of investing in the ONDC and may get a 5-7 per cent stake, sources said adding that ONDC is also in talks with the National Securities Depository Limited (NSDL) to come onboard as an investor. ONDC plans to raise around Rs190 crore from 20 investors, including 17 already on board, by the end of the exercise.
ONDC has already onboarded 17 investors, including Quality Council of India, Protean (NSDL eGov), BSE Investments, NSE Investments, Kotak Mahindra Bank, Axis Bank, HDFC Bank, IDFC First Bank, SIDBI, State Bank of India, NABARD, Bank of Baroda, CSC, eGovernance Services India, UCO Bank, Central Depository Services (India) Ltd, Punjab National Bank, and ICICI Bank.
