Latest news with #ONDCNetwork
Time of India
14-07-2025
- Business
- Time of India
DSP Asset Managers partners with Cybrilla to bring mutual funds live on ONDC Network
DSP Asset Managers has partnered with Cybrilla to become one of the first mutual fund companies to go live on the Open Network for Digital Commerce (ONDC). By joining ONDC Network , DSP MF is opening up new opportunities as the network's open design lets more distributors, including local entrepreneurs and fintech startups—offer mutual funds to a wider audience. ONDC is an initiative of the Ministry of Commerce and Industry, Government of India to create a facilitative model that revolutionizes digital commerce, giving greater thrust to penetration of retail e-commerce in India, according to a press release by the fund house. Also Read | Nearly 112 lakh SIPs closed in 2025: Should you worry about the negative net SIP trend? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » ONDC Network's financial services initiative focuses on helping people who have been unserved / underserved by the traditional financial system. It provides easier access to credit for individuals and small businesses, especially in areas where banking services are limited. It also offers simple investment options for first-time investors who want to start small and grow their savings steadily, the release added. Because ONDC Network is decentralized, DSP and its partners can create new investment products like daily SIPs or goal-based micro-investments. Live Events This setup also lowers costs. DSP can cover KYC and payment gateway fees, making it easier for new distributors to join and serve customers. The Network's focus on bringing in first-time investors and keeping them engaged fits perfectly with DSP's belief in disciplined, long-term investing. ONDC network is also evaluating feasibility of newer technologies like Central Bank Digital Currency (CBDC) which can be used for purchase and redemption of mutual funds lowering overall costs and offering instant settlement. "Our Integration with ONDC is a big step toward making investing simple and available to everyone in India. We want to reach people in smaller cities who have fewer options and help them start building wealth with confidence. This is not just about technology — it's about giving more people a fair chance to grow financially,' said Manish Rathi, VP and Head – Consumer Growth Marketing, DSP Asset Managers. Also Read | Mutual funds slashes cash allocation by Rs 13,000 crore in June; PPFAS and Quant MF join trend "This integration signals a shift from centralized distribution to decentralized opportunity. By bringing mutual funds onto the ONDC Network, we're not just expanding access; we're reconfiguring the way financial products are discovered, trusted, and adopted at scale. DSP's early participation exemplifies the foresight needed to lead in this new landscape,' said Vibhor Jain, Acting CEO and COO at ONDC. "Bringing mutual funds onto the ONDC network isn't just a technical milestone, it's a structural shift in how financial products reach people. With DSP Asset Managers on board, we're enabling a new kind of distribution where local distributors and digital apps can offer low-cost, goal-based investments to first-time investors across India. It's exactly the kind of inclusive infrastructure we've always wanted to build, and we're proud to help make wealth creation more accessible,' said Anchal Jajodia, Co-founder, Cybrilla.
Time of India
19-06-2025
- Business
- Time of India
Bajaj Markets joins ONDC network to sell electronics on its finance platform
Bajaj Markets, a part of Bajaj Finserv , on Thursday announced its integration with the Open Network for Digital Commerce (ONDC). This move will make the network accessible to its customers on Bajaj Markets App and Web. The Bajaj Markets' customers will now be able to access electronics on ONDC Network via the apps and website., in addition to financial products and services on the Bajaj Markets platform. The move is said to bring more than 16 million of traffic to ONDC's decentralized network. Ashish Panchal, Managing Director and CEO, Bajaj Finserv Direct Limited, said, "This integration connects consumers of Bajaj Markets with sellers on the ONDC network. It allows our 16 million+ traffic to access ONDC's decentralized network..." This integration marks a significant step in leveraging India's Digital Public Infrastructure to accelerate digital commerce and transform customer experience, adds Panchal. Live Events Bajaj Markets will now offer 1.5 lakh SKUs of electronics and appliances on their portal. "Bajaj Markets joining the ONDC Network marks a significant step in redefining how financial services and commerce integration reflects the transformative potential of open networks in enabling businesses to engage, learn, and co-create value," said Vibhor Jain, Acting CEO and COO, ONDC. Bajaj Markets is a financial marketplace under Bajaj Finserv Ltd. Shares of Bajaj Finserv Ltd. were trading at 1966.60 on BSE as on 16:01 on June 19.
Economic Times
03-06-2025
- Business
- Economic Times
Ekart goes live on ONDC Network for ecommerce logistics
Ecommerce major Flipkart's logistics arm Ekart has now gone live on the government-backed ecosystem for ecommerce Open Network for Digital Commerce (ONDC) Network. 'With this integration, Ekart brings to the table nationwide reach, deep logistics expertise, and a strong commitment to service excellence,' Mani Bhushan, chief business officer, Ekart, said in a press release. 'Together with ONDC Network, we look forward to empowering businesses, MSMEs with greater access, efficiency, and growth opportunities.' Through this integration, Ekart will expand its pan-India presence to reach sellers and brands ranging from MSMEs to large enterprises.'Ekart's scale and operational depth bring vital logistics capacity to the ONDC Network, reinforcing our commitment to building an open, interoperable infrastructure that empowers sellers and merchants to grow without logistical constraints,' Vibhor Jain, acting CEO and COO at ONDC, said in the statement. This development comes at a time when the ONDC Network is focusing on rapidly scaling e-commerce logistics on its platform following a drop in retail orders. In February this year, ONDC's retail orders (comprising e-commerce, grocery and food delivery) dropped to 4.6 million from a peak of 6.5 million in October last year. The drop in orders was seen after the incentive payouts by the network to its participants were reduced. Participants such as Magicpin, Paytm, Ola Consumer and other smaller players use these funds to offer discounts to their customers, which helps them onboard platform initially provided financial incentives to onboard sellers, drive transactions, and fund customer discounts and offers. However, gradually this assistance reduced from Rs 3 crore in July last year to Rs 30 lakh in March this year.
Time of India
03-06-2025
- Business
- Time of India
Ekart goes live on ONDC Network for ecommerce logistics
Live Events Ecommerce major Flipkart 's logistics arm Ekart has now gone live on the government-backed ecosystem for ecommerce Open Network for Digital Commerce (ONDC) Network.'With this integration, Ekart brings to the table nationwide reach, deep logistics expertise , and a strong commitment to service excellence,' Mani Bhushan, chief business officer, Ekart, said in a press release. 'Together with ONDC Network , we look forward to empowering businesses, MSMEs with greater access, efficiency, and growth opportunities.'Through this integration, Ekart will expand its pan-India presence to reach sellers and brands ranging from MSMEs to large enterprises.'Ekart's scale and operational depth bring vital logistics capacity to the ONDC Network, reinforcing our commitment to building an open, interoperable infrastructure that empowers sellers and merchants to grow without logistical constraints,' Vibhor Jain, acting CEO and COO at ONDC, said in the development comes at a time when the ONDC Network is focusing on rapidly scaling e-commerce logistics on its platform following a drop in retail orders In February this year, ONDC's retail orders (comprising e-commerce, grocery and food delivery) dropped to 4.6 million from a peak of 6.5 million in October last drop in orders was seen after the incentive payouts by the network to its participants were reduced. Participants such as Magicpin Paytm , Ola Consumer and other smaller players use these funds to offer discounts to their customers, which helps them onboard platform initially provided financial incentives to onboard sellers, drive transactions, and fund customer discounts and offers. However, gradually this assistance reduced from Rs 3 crore in July last year to Rs 30 lakh in March this year.
Indian Express
16-05-2025
- Business
- Indian Express
Delhi Metro tickets now available on more than 10 popular apps. Here's the list.
Travellers can now book Delhi Metro tickets through more than 10 widely-used apps, including Google Maps, redBus, Rapido, EaseMyTrip, and Namma Yatri, following the Delhi Metro Rail Corporation's (DMRC) integration with the Open Network for Digital Commerce (ONDC). The service is also available on Chartr, Highway Delite, OneTicket, Tummoc, Yatri Railways, and a Telegram bot operated by Miles & Kilometres. Vikas Kumar, Managing Director, DMRC, Thursday said, 'This partnership with ONDC is part of our effort to simplify metro travel and bring it into the digital spaces people already use every day.' 'By offering ticketing through multiple familiar apps, we are removing the friction that often comes with transit access,' he added. According to a DMRC spokesperson, this integration is the first such large-scale rollout by an urban transit system in India and marks a step towards building open, interoperable digital infrastructure for mobility. DMRC went live on the ONDC Network in November 2024 in a soft launch. Enabled through a single-point integration, the ticketing system allows metro journeys to be planned alongside inter-city or local transport. For instance, a traveller arriving by bus from Jaipur to ISBT Kashmere Gate can now book both their bus and metro ticket via redBus. Similarly, users of the Rapido app can plan a bike ride to the metro station, book the metro journey, and then complete the last leg via the same app. 'The integration of DMRC into the ONDC Network illustrates how open digital ecosystems can enable broader, more seamless access to public services,' said Vibhor Jain, Acting Chief Executive Officer and Chief Operating Officer, ONDC. 'By connecting once to the Network, DMRC can now offer ticketing across a range of everyday apps without needing custom integrations for each one,' he added. The DMRC spokesperson emphasised that this collaboration aligns with the metro's broader digital vision of simplifying the commuter experience while expanding its service footprint.
