CURRENT AFFAIRS

Detailed explanation-1: -Muskan Anand. Option [A] Ministry of Commerce and Industry : The Ministry of Commerce and Industry launched the pilot phase of the Open Network for Digital Commerce (ONDC).

Detailed explanation-2: -It is democratic, cost-effective and empowers buyers and small businesses,” commerce and industry minister Piyush Goyal said in a tweet. The ministry in April launched the pilot phase of the open network for digital commerce, a UPI-type protocol, in five cities - Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore.

Detailed explanation-3: -India on Friday launched the pilot phase of open network for digital commerce (ONDC), a UPI-type protocol, in five cities with an aim to democratise fast growing e-commerce sector, help small retailers and reduce dominance of online retail giants.

Detailed explanation-4: -It is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry. ONDC, a UPI of e-commerce, seeks to democratise digital or electronic commerce, moving it from a platform-centric model to an open-network.

Detailed explanation-5: -Open Network for Digital Commerce (ONDC), is an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India, to create a facilitative model to revolutionize digital commerce, giving greater thrust to penetration of retail e-commerce in India.