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ONDC to witness 7x- 8x transactions by Dec 2025 versus Dec 2024: MD Koshy

YourStory

YourStory · 8m ago

ONDC to witness 7x- 8x transactions by Dec 2025 versus Dec 2024: MD Koshy

Open Network for Digital Commerce is looking to innovate its core category, Mobility with additional offerings beyond ride-hailing.

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Expect ONDC to hit 200,000 transactions a day by year-end: T Koshy

Money Control

Money Control · 2y ago

Expect ONDC to hit 200,000 transactions a day by year-end: T Koshy

T. Koshy, the managing director of the On-Demand Car (ONDC) platform, anticipates the platform to reach 200,000 transactions per day by the end of the year. He highlighted the platform's robust growth and projected a significant increase in daily transactions. Koshy expressed confidence in ONDC's ability to cater to the growing demand for convenient and flexible transportation services in India.

ONDC Chief Thampy Koshy to step down

YourStory

YourStory · 4m ago

ONDC Chief Thampy Koshy to step down

Thampy Koshy, the managing director and CEO of India's Open Network for Digital Commerce (ONDC), has resigned after a three-year tenure, transitioning his responsibilities to an executive committee while remaining available for advice over the next three months. Prior to ONDC, Koshy was a Partner at EY and worked at NSDL. His departure follows Shireesh Joshi's earlier exit. ONDC, connecting sellers and buyers across various sectors, recently reached 200 million transactions.

Monthly transactions on ONDC to hit around 50 million by the end of the year: CEO Koshy

YourStory

YourStory · 1y ago

Monthly transactions on ONDC to hit around 50 million by the end of the year: CEO Koshy

Open Network For Digital Commerce (ONDC) CEO Thampy Koshy believes the platform will reach 40-50 million monthly transactions by the end of the year. Launched in December 2021, ONDC aims to empower smaller businesses in the ecommerce sector. Currently, the platform has nearly 550,000 merchants, with a decreasing share of transactions in the mobility sector. Other sectors like food, beauty, grocery, and apparel are gaining momentum. This was announced at the Build For Bharat event, a partnership between ONDC, Startup India, Google Cloud India, Antler in India, Protean, and Paytm, aimed at finding innovative solutions for ecommerce challenges.

ONDC appoints Vibhor Jain as acting CEO after T Koshy completed tenure

YourStory

YourStory · 3m ago

ONDC appoints Vibhor Jain as acting CEO after T Koshy completed tenure

Open Network for Digital Commerce (ONDC) has appointed Vibhor Jain as acting CEO, continuing its search for a permanent chief executive. Jain, part of the executive committee, succeeds Thampy Koshy, who stepped down after three years. Suresh Sethi, a board member, expressed confidence in Jain’s leadership during this transition. ONDC, a government-backed ecommerce network, connects various sectors and surpassed 200 million transactions in March, showing significant growth since its inception.

Fintech players in various stages of onboarding: ONDC’s Koshy

Economic Times

Economic Times · 1y ago

Fintech players in various stages of onboarding: ONDC’s Koshy

Fintech players like Aditya Birla Finance, Karnataka Bank, Tata Capital, Canara Bank, and Bajaj Finserv are integrating with the government-backed Open Network for Digital Commerce (ONDC), according to the CEO T Koshy. ONDC has specified protocols for financial sector players to onboard the network. The initial pilot involved providing small loans to individuals or proprietary concerns, with DMI Finance as the lender and Easypay as the buyer. Now, the entities are refining and scaling up operations, with more transactions expected in February. Other enterprises, including insurers and mutual fund companies, are also integrating with ONDC.

ONDC hits 8.9 million transactions, retail orders reach 5 million

YourStory

YourStory · 1y ago

ONDC hits 8.9 million transactions, retail orders reach 5 million

The Open Network for Digital Commerce (ONDC) in India witnessed a record high of 8.9 million transactions in May 2024, marking a 23% increase from the previous month. The retail segment contributed significantly to this growth, with 5 million orders recorded, driven by categories such as grocery, food delivery, home and kitchen, and fashion. Ride-hailing also saw a modest increase to 3.8 million trips. The ONDC aims to further expand its reach, targeting 40-50 million monthly transactions by the end of the year. Additionally, reports suggest that the Adani Group may enter the ecommerce business through the ONDC platform.

ONDC Clocks Record 89 Lakh Transactions In May

Inc42 · 1y ago

ONDC Clocks Record 89 Lakh Transactions In May

The ONDC network recorded a new peak in retail transactions with 50 Lakh orders in May 2024. The ride-hailing segment also experienced growth with 38 Lakh trips in May. The ONDC network currently has 5.35 Lakh sellers in 1,200 cities.

ONDC reaches 50,000 restaurants

IndianStartupNews

IndianStartupNews · 2y ago

ONDC reaches 50,000 restaurants

The ONDC, backed by the Indian government, announced that its platform now hosts 50,000 restaurants available for order across 172 cities in India, a significant increase from the previous count of 500 restaurants in February 2023. ONDC's CEO, T. Koshy, highlighted the growth, emphasizing the role of Seller Network Participants (NPs) such as Magicpin, uEngage, and others in bringing restaurants on board. The initiative plans to double this count by year-end. Established in December 2021, ONDC aims to establish an interconnected digital commerce platform and has partnered with applications like Paytm for facilitating ordering services.

Deals Digest: Big-ticket PE transaction skews weekly numbers as total value tops $1 bn

VCCircle

VCCircle · 4m ago

Deals Digest: Big-ticket PE transaction skews weekly numbers as total value tops $1 bn

Dealmaking activities were subdued during a four-day period, with private equity and venture capital transactions reaching their lowest in four weeks. Despite the reduced number of transactions, the total deal value surpassed $1 billion for the first time in 2025. A significant private equity transaction was a major contributor to this milestone, highlighting a skewed distribution in deal numbers versus value, according to data from VCCircle.

CBDT extends tax return filing deadline to Dec 15

YourStory

YourStory · 9m ago

CBDT extends tax return filing deadline to Dec 15

The income tax return filing deadline for the financial year 2023-24 has been extended by an additional 15 days to December 15. This extension applies to taxpayers who are required to furnish a report under section 92E of the Income-tax Act, 1961. The announcement was made by the Central Board of Direct Taxes, extending the deadline for the assessment year 2024-25. This extension provides relief to taxpayers with international transactions who need to submit reports under Section 92E.

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