New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Consider the following statements with reference to the

    Open Network for Digital Commerce: I. It is a freely accessible government-backed platform that aims to democratise e-commerce. II. Providers and consumers would be able to use any compatible application of their choice for exchange of information and carrying out transactions over ONDC. III. It is an initiative of the Ministry of Consumer Affairs. Which of the statements is/are correct?
    A I only Correct Answer Incorrect Answer
    B II only Correct Answer Incorrect Answer
    C III only Correct Answer Incorrect Answer
    D I and II only Correct Answer Incorrect Answer
    E II and III only Correct Answer Incorrect Answer

    Solution

    Open Network for Digital Commerce (ONDC): Statement 1 is correct -: ONDC is a freely accessible government-backed platform that aims to democratize e-commerce by moving it from a platform-centric model to an open network for buying and selling goods and services. It is a not-for-profit organization that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications. Statement 2 is correct -: Under ONDC, it is envisaged that a buyer registered on one participating e-commerce site (for example, Amazon) may purchase goods from a seller on another participating e-commerce site (for example, Flipkart). Providers and consumers would be able to use any compatible application of their choice for exchange of information and carrying out transactions over ONDC. Statement 3 is not correct -: It is an initiative of the Ministry of Commerce and Industry.

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