Publication - Money Control
Edition - Online

In the middle of January 2024, the Open Network for Digital Commerce (ONDC) successfully tested a couple of transactions for personal loans with Easypay and DMI Finance, according to sources. Further, with the technology being tested and optimised, other finserv participants are scheduled to go live over the next few weeks.

This comes at a time when the network has scaled up to consistently seeing over 1 lakh daily transactions in both retail and ride-hailing sectors, almost a year after its foray into food and grocery deliveries with large incentives ruffled the hyperlocal commerce sector.

Within the financial services space, ONDC is building the infrastructure for three broad segments of products — credit, insurance and wealth management.

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ONDC pilots finserv foray with personal loans; attracts big players for credit, insurance, MF offerings

Financial services players like Aditya Birla Capital, Tata Capital, Canara Bank, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Allianz, Aditya Birla Health are in various stages of integration with the network

MoneycontrolDeepsekhar Choudhury