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    Question

    Which of the following private sector bank has signed up

    as a participant in the Open Network for Digital Commerce (ONDC) to enable early adoption of the network among its customers?
    A Federal Bank Correct Answer Incorrect Answer
    B HDFC Bank Correct Answer Incorrect Answer
    C IDFC First Bank Correct Answer Incorrect Answer
    D ICICI Bank Correct Answer Incorrect Answer
    E Axis Bank Correct Answer Incorrect Answer

    Solution

    IDFC First Bank has signed up as a participant in the Open Network for Digital Commerce (ONDC) to enable early adoption of the network among its customers. The bank has enabled a platform for buyers which will help them discover sellers in the ONDC network as it develops over time. The bank has started onboarding small merchants, who are its current account customers, on to a partner app registered with ONDC. The app is expected to help small merchants carry out transactions over ONDC’s electronic network and step up their digital footprint. IDFC First Bank                                      Headquarters:Mumbai                        CEO: V.Vaidyanathan Open Network for Digital Commerce (ONDC) is a freely accessible government-backed platform that aims to democratise e-commerce by moving it from a platform-centric model to an open network for buying and selling of goods and services.

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