ONDC Network Aims For Three-To-Four Crore E-Commerce Transactions By Next March
Open Network for Digital Commerce, also known as ONDC Network, which crossed 1.2 crore monthly e-commerce transactions, aims to achieve 3–4 crore transactions by the end of this financial year, according to Managing Director and Chief Executive Officer T Koshy.
“We have already crossed 12 million (1.2 crore) transactions in July; slowly, this number will increase. I am expecting that we will touch 30–40 million (3–4 crore) transactions by the end of this financial year,” Koshy told NDTV Profit on the sidelines of its credit financial services launch on Thursday.
The company has launched credit services, which will be fully digital and paperless loans available in just six minutes. "The new offering is integrated with nine buyer applications (also known as lending service providers) and three lenders, marking a significant milestone in ONDC Network's mission to enhance accessibility and efficiency in credit services,” the company said in a press release.
The initial product of this digital lending initiative is unsecured credit for both salaried and self-employed individuals. The buyer applications include Easypay, Paisabazaar, Tata Digital, Invoicepe, Cliniq360, Zyapaar, Indipe, Tyreplex, and Paynearby, the press release said. Aditya Birla Finance, DMI Finance, and Karnataka Bank are the lenders for this initiative.
The ONDC Network also has a strong pipeline of buyer applications from Mobikwik, Rupeeboss, and Samridh. Further, lenders such as HDFC Bank, IDFC First Bank, Faircent, Pahal Finance, Fibe, Tata Capital, Kotak Mahindra Bank, Axis Finance, FTCash, and the Central Bank of India are also said to have been in talks.
Additionally, the company plans to introduce GST invoice financing loans by the end of September, followed by subsequent products including purchase financing for individuals and sole proprietors and working capital lines for partnerships and private limited companies.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
