Banks & Stock Exchanges come forward to promote e-platform for local retailers

New Delhi, 22 Nov (KNN) The highly anticipated launch of Open Network for Digital Commerce (ONDC) by Ministry of Commerce has received support from SBI, NPCI, NSE in this government project.

NSDL, HDFC Bank, National Bank for Agriculture and Rural Development are some of the other entities that have shown interest.  

Its aim is to restrain digital monopolies and carter to domestic retailers by helping the micro, small, and medium enterprises (MSMEs) get easy access to this online platform and do business.

As per an official source, published in Business Standard the ONDC platform will give equal opportunity to offline traders to sell their products through an online platform.

This will enable local businesses to grow throughout various segments and will not limit to a particular product or service.

“The application will also be available in local languages, so that the seller in any part of the country can access it without any language barrier,” said the official source.