Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • How active-passive fund mix helps investors manage volatility, explains ICRA Analytics
    • Find iShares funds and ETFs
    • Rs 2,000 SIP Over 30 Years: How Can A Systematic Investment Plan Grow Into A Retirement Corpus Worth Lakhs?
    • Motilal Oswal MF launches Contra Fund; targets turnaround bets across market cycles as NFO opens May 8
    • Growth and Income Fund: Definition, Investment Mix, Examples
    • ETFs win the wrapper war as advisors and RIAs pull away from mutual funds
    • HYBI: A Better Choice In 2026 Than Its Underlying ETFs SPHY, USHY And HYLB
    • High Return Equity Mutual Funds in India: Highest 5-Year Returns Ranked – Money Insights News
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Mutual Funds»Insurance and mutual funds to be soon available on ONDC
    Mutual Funds

    Insurance and mutual funds to be soon available on ONDC

    August 22, 2024


    The Open Network for Digital Commerce (ONDC), the aggregator platform that runs on open-source technology, is set to launch insurance and mutual fund products in the next two months and will partner MasterCard for credit cards.

    ONDC also launched six-minute digital loans that will offer unsecured credit to salaried and non-salaried customers.

    “We have deployed a Marine app, one insurer and two more are coming,” said T Koshy, CEO, ONDC. “For health (insurance) also, we are live, but the partner doesn’t have the licence. The motor (insurance) should happen in the next month or so. And MF will go live next month. We want to hit the 100-200 transactions first.”

    The platform is also looking to incorporate credit cards in its suite of offerings but hasn’t set a timeframe on when it will be launched.

    “We have a community volunteer programme, if a certain company wants to help build protocol, we hold the reins and understand that we will release it to the public,” said Hrushikesh Mehta, Senior Vice President, Financial Services – ONDC. “Just got MasterCard who is now willing to be the volunteer and build protocols for credit card rollout.”

    Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, to create a facilitative model that revolutionizes digital commerce, giving greater thrust to penetration of retail e-commerce in India.On Thursday, ONDC launched fully digital and paperless loans available in just 6 minutes. The new offering is integrated with 9 buyer applications (also known as Lending Service Providers) and 3 lenders.The buyer applications include Easypay, Paisabazaar, Tata Digital, Invoicepe, Cliniq360, Zyapaar, Indipe, Tyreplex and Paynearby. The lenders include Aditya Birla Finance, DMI Finance and Karnataka Bank.

    “By integrating multiple digital systems into a single process, we are simplifying the borrowing experience and expanding credit availability even for remote and underserved regions,” Koshy said. “This innovation not only reduces operational costs for both lenders and buyer applications but also enhances financial inclusion, fostering economic growth and opportunity across the country.”

    According to the Economic Survey 2024, transactions on the ONDC have surged past 68 million since its inception in 2022. As of June 2024, it saw a 12 percent month-on-month growth in transactions to 9.95 million. In July, ONDC did 12 million transactions, said Koshy.

    Koshy also added that the ONDC network is a medium to “prevent market concentration” and democratizes access for all the sellers. He added that the network makes it possible for any buyer to get the best possible deal for goods or a service.

    Koshy’s comments come after Union Commerce Minister Piyush Goyal had expressed concerns on the growing muscle of e-commerce giants like Amazon.

    Koshy explained that typically, platforms prefer few large suppliers and a large customer base which leads to a network effect and eventual dying out of small businesses.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    How active-passive fund mix helps investors manage volatility, explains ICRA Analytics

    May 8, 2026

    Motilal Oswal MF launches Contra Fund; targets turnaround bets across market cycles as NFO opens May 8

    May 7, 2026

    Growth and Income Fund: Definition, Investment Mix, Examples

    May 7, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Rs 2,000 SIP Over 30 Years: How Can A Systematic Investment Plan Grow Into A Retirement Corpus Worth Lakhs?

    May 7, 2026

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    How active-passive fund mix helps investors manage volatility, explains ICRA Analytics

    May 8, 2026

    Investors should combine active and passive mutual fund strategies to navigate ongoing market volatility and…

    Find iShares funds and ETFs

    May 7, 2026

    Rs 2,000 SIP Over 30 Years: How Can A Systematic Investment Plan Grow Into A Retirement Corpus Worth Lakhs?

    May 7, 2026

    Motilal Oswal MF launches Contra Fund; targets turnaround bets across market cycles as NFO opens May 8

    May 7, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Best SBI equity funds: These 3 schemes lead 3, 5 and 10-year return charts – Money News

    February 14, 2026

    SEC to Decide Bitwise 11 Altcoin ETFs in March 2026, Here’s Everything

    January 13, 2026

    KB Kookmin Bank issues €500 mn in covered bonds

    October 15, 2024
    Our Picks

    How active-passive fund mix helps investors manage volatility, explains ICRA Analytics

    May 8, 2026

    Find iShares funds and ETFs

    May 7, 2026

    Rs 2,000 SIP Over 30 Years: How Can A Systematic Investment Plan Grow Into A Retirement Corpus Worth Lakhs?

    May 7, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹9000 monthly SIP can help you retire at 45 with ₹2 lakh monthly pension

    May 5, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.