CDSL takes 6.7% stake in Open Network for Digital Commerce

Central Depository Services (India) Limited (CDSL) said that it has acquired a 6.78% stake in Open Network for Digital Commerce (ONDC) for an undisclosed price.

ONDC project, which is a section 8 company, is a project aimed at creating an Indian eco-system for the ecommerce network.

Additionally, ONDC aims at promoting open networks built on open-sourced methodology by using open specifications and open network protocols independent of any specific platform.

Nehal Vora — MD and CEO of CDSL said: “We are elated to partner on the ONDC project. The ONDC Project is a great opportunity to be a catalyst in the progress of national initiatives towards digital growth.”