Bank of Baroda has raised its stake in Open Network for Digital Commerce (ONDC) to 8.51% from 5.56% for a sum of Rs 30 crore. Post investment, Bank of Baroda holds 8.51% of the Equity share capital of ONDC by way of allotment of additional 30,00,000 fully paid up Equity shares of face value of Rs 100 each. Equity ownership of ONDC is aimed at providing an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services.
ONDC is engaged in creating an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services and to expand alternatives for both buyers and sellers to engage in the digital commerce space.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
