In a major move, the Open Network for Digital Commerce (ONDC) is gearing up to offer a broad range of financial services over the next 18 months.
This includes insurance, mutual funds, credit cards, and innovative products like crop yield and cow financing. By September-end, ONDC will introduce GST invoice financing loans. The network has already launched digital working capital loans and plans to roll out personal loans and B2B credit. ONDC aims to simplify financial access using digital infrastructure, integrating with platforms like Easypay and Tata Digital, and aims to reach 30-40 million transactions monthly by FY25.