🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

ONDC expands to financial services; launches quick digital lending

YourStory

YourStory · 1y ago

ONDC expands to financial services; launches quick digital lending

Open Network for Digital Commerce (ONDC) has entered the financial services sector with the launch of its digital lending initiative. The platform will provide paperless loans in just six minutes, offering unsecured credit to both salaried and self-employed individuals. ONDC has partnered with several buyer applications and lenders to facilitate this service, and is working towards expanding its digital credit model and increasing financial inclusion. In addition to unsecured loans, ONDC plans to introduce GST invoice financing loans and other financial products in the future. The platform recently recorded 12 million monthly transactions and expects to reach 40-50 million by year-end.

1

Related News

Why Should Lenders Capitalise On ONDC For Growth?

Inc42 · 1y ago

Why Should Lenders Capitalise On ONDC For Growth?

The ONDC network aims to promote financial inclusion through digital inclusion. One of the key benefits of ONDC is the seamless transfer of participant data, which promises improved financial services. The network also provides opportunities for institutions to expand their partnership lending and connect with various players in the ecommerce sector, allowing them to scale their operations.

CARS24 launches credit platform to simplify loans for car buyers, owners

YourStory

YourStory · 9m ago

CARS24 launches credit platform to simplify loans for car buyers, owners

CARS24's lending arm, CARS24 Financial Services, launched LOANS24, a digital credit platform for vehicle financing, offering fully digital, valuation-free loans for quick disbursals. Available for all car purchases, LOANS24 provides financing up to 100% of the on-road price, with used car loans starting at 10.99% interest. The platform targets both Tier I and II cities, noting increased participation from women. Previously, CFSPL facilitated over Rs 15,000 crore in working capital loans to dealers.

ONDC Expands Mobility Offering, Forays Into Mass Transit Segment Via Chennai Metro

Inc42 · 1y ago

ONDC Expands Mobility Offering, Forays Into Mass Transit Segment Via Chennai Metro

Government-backed Open Network for Digital Commerce (ONDC) has partnered with Chennai Metro to launch its 'Metro Rail' service, allowing users to purchase single and return journey tickets through apps registered with ONDC such as Rapido, Namma Yatri, and redBus. Additionally, ONDC plans to launch similar services for other metros including Kochi, Kanpur, and Pune, and Google Maps and PhonePe will soon offer metro ticketing services as well. ONDC aims to revolutionize mass transit and democratize ecommerce in India by expanding its offerings and partnerships.

After 6-minute loans, ONDC to offer sachetised insurance, micro-investments services | Mint

Livemint

Livemint · 1y ago

After 6-minute loans, ONDC to offer sachetised insurance, micro-investments services | Mint

The Open Network for Digital Commerce (ONDC) plans to expand its services by offering sachetised insurance and investment products to users. ONDC, an interoperable network launched by the Indian government, recently entered the financial services sector offering digital loans. The network aims to provide insurance and micro-investment products, including mutual funds, in the near future. ONDC has already begun transactions in health and marine insurance and is also developing a protocol for life insurance products. The company expects to launch these services officially once they reach 100 transactions each.

Paytm app launches auto-rickshaw booking feature via ONDC

Economic Times

Economic Times · 1y ago

Paytm app launches auto-rickshaw booking feature via ONDC

Paytm, the fintech platform, has introduced an auto-rickshaw booking feature on its app in collaboration with the government-backed Open Network for Digital Commerce (ONDC). The service is currently available for select users in the National Capital Region, Bengaluru, and Chennai. The feature is provided by Pai Platforms, backed by Paytm CEO Vijay Shekhar Sharma. ONDC has seen higher volumes in mobility compared to ecommerce, with over 37 million trips completed and 6.3 million registered users. Paytm is among several companies exploring ONDC for commerce and mobility services.

ONDC launches new incentive scheme with more autonomy for buyer apps, support for small cities

Money Control

Money Control · 2y ago

ONDC launches new incentive scheme with more autonomy for buyer apps, support for small cities

The Open Network for Digital Commerce (ONDC) is revising its incentive scheme to address dominance by major platforms like Amazon, Flipkart, Swiggy, and Zomato. The updated scheme provides buyer-side apps with more flexibility in offering discounts, reduces subsidies in the food category, and aims to expand merchant presence in non-metro districts. Key changes include increased weekly claim limits for buyer-side apps, category-specific discounts, and capped weekly incentives per order. ONDC also plans to expand internationally and introduce financial services. The government-backed initiative aims to boost e-commerce penetration in India and reduce business costs through dynamic pricing, inventory management, and delivery optimization.

Fibe’s NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth

Economic Times

Economic Times · 3m ago

Fibe’s NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth

EarlySalary Services, the NBFC arm of digital lending platform Fibe, raised Rs 225 crore through Non-Convertible Debentures with involvement from Franklin Templeton AIF and others. The funds will support lending operations and digital expansion for India’s digitally savvy, salaried population. This fundraising highlights investor confidence in the digital lending sector and Fibe's strategic growth. Founded in 2015, Fibe now offers diversified credit solutions, enhancing access to financial services for tech-savvy Indians.

ONDC To Launch Insurance, Mutual Fund Products In Two Months

Inc42 · 1y ago

ONDC To Launch Insurance, Mutual Fund Products In Two Months

The network, ONDC, plans to launch credit card offerings in partnership with Mastercard but has not set a specific timeframe. Their mutual fund offering is set to go live next month. Additionally, ONDC has partnered with nine lending service providers to offer digital loans to users in just six minutes.

Shiprocket has big plans for offline ecommerce space

Economic Times

Economic Times · 1y ago

Shiprocket has big plans for offline ecommerce space

Zomato-backed ecommerce platform Shiprocket is expanding its services to enable ecommerce transactions for offline general trade. The company has launched a WhatsApp storefront bot and introduced a quick shipping service called Shiprocket Quick. Shiprocket has partnered with hyperlocal logistics platforms, including Ola and Porter, to offer their delivery fleets to customers. The new services aim to cater to the growing demand for quick deliveries and help offline merchants stay competitive in the digital age. Shiprocket is also targeting revenue from additional services such as marketing, sourcing, payments, and lending for online sellers.

Zepto launches Super Mall, expands pharmacy to diagnostics services - The Economic Times

Economic Times

Economic Times · 11d ago

Zepto launches Super Mall, expands pharmacy to diagnostics services - The Economic Times

Zepto, a quick commerce platform, has launched its Super Mall for non-grocery items like apparel and homeware to boost high-value sales and improve unit economics. It also expanded its pharmacy services by partnering with Orange Health Labs to include diagnostic services, offering speedy home tests. This initiative aligns with Zepto's plans to expand its dark store presence and increase order volumes, amid preparations for an initial public offering (IPO) to raise $450-$500 million.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

Sept 2025

Your Health, Simplified with Smart Care

An ecosystem for curated creative partnerships

Your Health our Priority.

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Nvidia releases open-source softw ...

Top ISRO official bats for sovere ...

Maruti Suzuki unveils 1 lakh-char ...

Download the medial app to read full posts, comements and news.