ONDC
Budget 2024: ONDC and more on e-commerce's cart for Nirmala Sitharaman
Budget 2024: Finance Minister Nirmala Sitharaman will present Budget 2024 on July 23, outlining Modi's third term roadmap. The e-commerce sector, including Vijay Shekhar Sharma and MSMEs, seeks ONDC support. TEAM scheme, Rs 277 crore, aids MSMEs' digitalization. Shireesh Joshi targets 10 million ONDC transactions. Parliament session: July 22-August 12. Interim budget was presented in February; Lok Sabha polls held April-June.
Tech-first brokers hit a snag; Foxconn’s Bharat FIH in trouble
Happy Thursday! Online stock brokers, who used low fees to attract customers, now face an uncertain future with Sebi’s new rules. More on this in today’s ETtech Morning Dispatch.
ONDC to add banks, fintechs to take credit services to last mile
The homegrown Open Network for Digital Commerce (ONDC) will soon integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech companies like Fibe, sources told us. This comes as the network began early pilots for credit disbursal through its platform, by partnering with Tata Group superapp Tata Neu and Paisabazaar.
No more licensed biz, Paytm to focus on distribution model
Digital payments major Paytm wants to stay away from getting into any regulated businesses and would rather focus on building distribution heft. The senior leadership have taken a conscious call to not go after regulatory licenses but rather work with licenced entities and distribute products better.
Scheme unveiled to help 500k MSMEs join ONDC
Ministry's initiatives focus on empowering MSMEs, especially micro-enterprises, through various schemes, including Khadi brand rejuvenation and interest subventions. Rajneesh, the development commissioner, highlights the importance of these initiatives for the growth and development of small businesses.
ONDC to touch 10 million transactions in June: official
Shireesh Joshi, ONDC's president said the company will touch 10 million transactions in June. " We are growing strong, adding about one million transactions month-on-month," he added. Joshi expressed hope that ONDC will surpass major ecommerce players like Flipkart and Amazon in future.
Gupshup to launch multilingual WhatsApp chatbot for buyer apps on ONDC
Gupshup's WhatsApp chatbot on ONDC streamlines buyer experience, supports enterprise integration, and expands to include food orders, location sharing, Google RCS, and voice integration. Operating globally, Gupshup aims to reach diverse populations through WhatsApp for seamless conversational commerce.
ONDC is bulking up financial services play with consumer-facing apps
Tata Group's super app Tata Neu and credit marketplace Paisabazaar are conducting pilot studies for credit disbursals through the ONDC network, with lenders like DMI Finance and Aditya Birla Finance already integrated.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
Reliance Retail starts ONDC pilot via retail platform Fynd
Reliance Retail, a subsidiary of Reliance Industries, has begun testing the government's Open Network for Digital Commerce (ONDC) through Fynd, an omnichannel retail platform in which Reliance holds an investment.
$250K funding for ONDC hackathon topper firms
The Build for Bharat initiative was started in New Delhi in December last year in collaboration with the government’s Startup India platform, Google Cloud India, Antler in India, Protean and Paytm. It was organised in more than 50 cities with experts, leaders, venture capitalists and incubators onboard.
Adani Group plans ecommerce, payments ventures: FT report
Adani Group is considering applying for a license to operate on India's public digital payments network and planning a co-branded credit card with banks, aiming to enter the booming digital payments market.
ChatGPT meets Beckn in FIDE’s AI agent BecknGPT
The AI agent, Beckn Generative Pre-trained Transformer or BecknGPT, is an open-source demonstration app over Open AI’s ChatGPT.
Five lakh sellers onboard ONDC so far: DPIIT secy
Asked if big startups would overshadow smaller players, DPIIT secretary Rajesh Kumar Singh said it will increasingly get traction for all types of players that comes to the ecommerce marketplace.
Ola Cabs brings back Ankush Aggarwal to its ride-hailing biz
Amid top-level changes at Ola Cabs, founder Bhavish Aggarwal’s brother Ankush Aggarwal has returned to the ride hailing business after a stint with electric scooter maker Ola Electric. Ankush has also been made chief executive of Ola Financial Services.
Zomato, Swiggy Instamart clock record orders on Mother's Day, beat New Year's Eve numbers
On Mother's Day, quick commerce and food delivery platforms saw high demand for gift items like flowers, handbags and chocolates.
Paytm app launches auto-rickshaw booking feature via ONDC
Paytm introduces auto-rickshaw booking on its app through ONDC and Namma Yatri for users in NCR, Bengaluru, and Chennai. ONDC tab includes food, groceries, and rides. Pai Platforms facilitates the service with significant mobility transactions.
Magazines can offer subscriptions on ONDC
Advertising-as-a-service to start in June-July; India Post in advanced stages of integration as logistics service provider
BHIM looks to bulk up with ONDC to take on digital payment heavyweights
NPCI-built app to foray into ecommerce space via separate division. Despite marketing challenges, BHIM aims to improve user experience through partnerships and new initiatives like BHIM 2.0.
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