ONDC expands into digital lending; to offer loans in 6 minutes
Initiative set to simplify borrowing experience and expand credit availability for remote and underserved regions
Initiative set to simplify borrowing experience and expand credit availability for remote and underserved regions
The two-wheeler manufacturer says that ONDC will initially offer two-wheeler parts, accessories, and merchandise.
The fintech major is reportedly in advanced stages of talks with e-commerce startup Bitsila and the deal is likely to close in the coming week.
Presently, online spending constitutes only 5-6% of total retail spending in India, in stark contrast to the U.S., where it comprises 23-24%, and China, where it is 35%.
It will be a unified portal for all regulatory activities relating to drugs, pharmaceuticals, vaccines, medical devices, cosmetics, testing laboratories, and related areas.
From being unable to build critical mass in any particular city to issues arising with the onboarding of Kirana stores, ONDC faces multiple hurdles.
Zomato share price surged as much as 7.7% on Friday to hit an intraday high of ₹73.
He invited all e-commerce companies, big and small, to join ONDC and be part of this new bazaar that reimagines digital commerce.
A new hyperlocal app on the network begins its pilot in Bengaluru, aims 1,00,000 orders a day by the end of the year.
The Pincode app will focus on hyperlocal commerce.