The Open Network for Digital Commerce (ONDC) is set to expand its services to include financial offerings, such as credit, insurance, investments, and gift cards. What services is the Open Network for Digital Commerce (ONDC) planning to expand into?

Solution

  The Open Network for Digital Commerce (ONDC) is set to expand its services to include financial offerings, such as credit, insurance, investments, and gift cards. This move comes after the platform successfully ventured into sectors like food, grocery, fashion, travel, and electronics.  In insurance, ONDC is starting off with three products – health insurance, marine insurance, and motor insurance. In investments, it will commence with mutual fund investment offerings on the network.    For mutual fund investments, ONDC is working with MFU (MF Utilities India) to onboard the asset management companies as seller applications.