Kotak Mahindra Bank, Axis Bank has acquired 7.84% stake in ONDC

Kotak Mahindra Bank and Axis Bank each has acquired 7.84% stake in Open Network Digital Commerce (ONDC) for ₹ 10 crore.

ONDC was incorporated on December 30, 2021, in India. ONDC is an open public digital infrastructure. This network develops and transform the Indian digital commerce ecosystem for both goods and services.

It is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry.