SIDBI acquires 7.84% stake in ONDC for Rs 10 crore
ECONOMY & POLICY

SIDBI acquires 7.84% stake in ONDC for Rs 10 crore

Small Industries Development Bank of India (SIDBI) announced that it has acquired a 7.84% stake in an open public digital infrastructure platform, Open Network for Digital Commerce (ONDC), for Rs 10 crore.

S Ramann, CMD SIDBI, told the media that they hope this investment in ONDC would support developing the digital infrastructure in the country to democratise digital commerce.

He said that the infrastructure developed would help as a public good by increasing market access for micro, small and medium enterprises (MSMEs).

Rao said that it would specifically help the micro-enterprises and retailers by reducing costs and effort and onboarding the e-commerce market.

He said SIDBI, with the help of its network of institutions, would actively engage with ONDC to make this project a success.

ONDC was established in December 2021, with the aim to develop the first open public digital infrastructure to create and transform the digital commerce ecosystem of India for both goods and services.

SIDBI is the regulatory body for licensing and regulation of MSMEs finance firms in the country. It is under the Ministry of Finance, Government of India (GoI).

Image Source

Also read: Letter to the Finance Minister on urgent policy and financial interventions required for MSMEs
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Small Industries Development Bank of India (SIDBI) announced that it has acquired a 7.84% stake in an open public digital infrastructure platform, Open Network for Digital Commerce (ONDC), for Rs 10 crore. S Ramann, CMD SIDBI, told the media that they hope this investment in ONDC would support developing the digital infrastructure in the country to democratise digital commerce. He said that the infrastructure developed would help as a public good by increasing market access for micro, small and medium enterprises (MSMEs). Rao said that it would specifically help the micro-enterprises and retailers by reducing costs and effort and onboarding the e-commerce market. He said SIDBI, with the help of its network of institutions, would actively engage with ONDC to make this project a success. ONDC was established in December 2021, with the aim to develop the first open public digital infrastructure to create and transform the digital commerce ecosystem of India for both goods and services. SIDBI is the regulatory body for licensing and regulation of MSMEs finance firms in the country. It is under the Ministry of Finance, Government of India (GoI). Image Source Also read: Letter to the Finance Minister on urgent policy and financial interventions required for MSMEs

Next Story
Infrastructure Urban

Ecom Express Appoints Kammal Daas as VP of Operations, Last Mile

Ecom Express Limited has reportedly appointed Kammal Daas as Vice President of Operations, Last Mile. Kammal will play an important role in strengthening the company’s operational capabilities and driving efficiency across its last-mile delivery process.Kammal brings over 18 years of rich experience in operations, logistics, and supply chain management. Most recently, he served as Vice President of Operations at Licious, where he led mid-mile delivery operations and managed procurement logistics. His career highlights also include leadership positions at Flipkart and Walmart India, where he ..

Next Story
Real Estate

MHADA Eases Financial Burden: Maintenance Fees Post-Possession Only

In a landmark policy reform, the Maharashtra Housing and Area Development Authority (MHADA) has announced that maintenance charges and property taxes for scattered housing units and plots will now only be applicable from the date of possession. This move, led by IAS officer Sanjeev Jaiswal, Vice President and CEO of MHADA, is a significant relief for beneficiaries of its housing schemes.Previously, beneficiaries were required to pay these charges from the date of allotment, even if possession was delayed. This often placed an unfair financial burden on individuals while properties remained und..

Next Story
Real Estate

MHADA Amnesty Scheme Eases Occupancy Certificate Delays

The Maharashtra Housing and Area Development Authority (MHADA) has launched a special Amnesty Scheme to assist housing societies in Mumbai and its suburbs in obtaining long-pending Occupancy Certificates (OCs) for redeveloped buildings. Valid until 10 April 2025, the scheme is set to benefit approximately 80 housing societies.The delays in issuing OCs were primarily due to the inability of societies to pay the premium differential amount for redevelopment. To resolve this, MHADA has waived the interest on these premiums, requiring societies to pay only the principal amount. Additionally, socie..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000