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With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:
1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.
2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
With reference to the Open Network for Digital Commerce (ONDC), consid...
ONDC: Open Network for Digital Commerce
- The Open Network for Digital Commerce (ONDC) is a not-for-profit organization.
- The ONDC aims to offer a network that will enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.
- The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.
Correct Answer: Both 1 and 2
Explanation:
- The ONDC is a not-for-profit organization that aims to provide a network for local digital commerce stores across industries to be discovered and engaged by any network-enabled applications. This network will be open, transparent, and accessible to all.
- The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments. The UPI is a payment system developed by the National Payments Corporation of India (NPCI) that allows users to transfer money between bank accounts using a mobile phone. The UPI has been very successful in India, and the ONDC model is trying to replicate this success in the field of digital commerce.
- The ONDC aims to create a network that will enable small and medium-sized businesses to compete with larger companies by providing them with the same tools and technologies. The ONDC will also help to reduce the cost of doing business for these companies by providing them with a platform to sell their products and services.
- The ONDC will offer a range of services, including product discovery, order management, and payment processing. The ONDC will also provide a range of tools and technologies to help businesses manage their inventory, logistics, and customer support.
- The ONDC is expected to boost economic growth by enabling small and medium-sized businesses to sell their products and services online. The ONDC will also help to create jobs and improve the standard of living for people in the local community.
- The Open Network for Digital Commerce (ONDC) is a not-for-profit organization.
- The ONDC aims to offer a network that will enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.
- The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.
Correct Answer: Both 1 and 2
Explanation:
- The ONDC is a not-for-profit organization that aims to provide a network for local digital commerce stores across industries to be discovered and engaged by any network-enabled applications. This network will be open, transparent, and accessible to all.
- The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments. The UPI is a payment system developed by the National Payments Corporation of India (NPCI) that allows users to transfer money between bank accounts using a mobile phone. The UPI has been very successful in India, and the ONDC model is trying to replicate this success in the field of digital commerce.
- The ONDC aims to create a network that will enable small and medium-sized businesses to compete with larger companies by providing them with the same tools and technologies. The ONDC will also help to reduce the cost of doing business for these companies by providing them with a platform to sell their products and services.
- The ONDC will offer a range of services, including product discovery, order management, and payment processing. The ONDC will also provide a range of tools and technologies to help businesses manage their inventory, logistics, and customer support.
- The ONDC is expected to boost economic growth by enabling small and medium-sized businesses to sell their products and services online. The ONDC will also help to create jobs and improve the standard of living for people in the local community.
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Community Answer
With reference to the Open Network for Digital Commerce (ONDC), consid...
The Government of India announced the launch of the pilot phase of Open Network for Digital Commerce (ONDC) in five cities in April 2022 with an aim to “democratise” the country’s fast growing digital e-commerce space that is currently dominated by the two U.S.-headquartered firms — Amazon and Walmart.
- As per the strategy paper on ONDC, it is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.
- It is neither an aggregator application nor a hosting platform, and all existing digital commerce applications and platforms can voluntarily choose to adopt and be a part of the ONDC network.
- The ONDC aims to enable buying of products from all participating e-commerce platforms by consumers through a single platform.
- Currently, a buyer needs to go to Amazon, for example, to buy a product from a seller on Amazon. Under ONDC, it is envisaged that a buyer registered on one participating e-commerce site (for example, Amazon) may purchase goods from a seller on another participating e-commerce site (for example, Flipkart).
- The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments. UPI allows people to send or receive money irrespective of the payment platforms they are registered on.
- The open network concept also extends beyond the retail sector, to any digital commerce domains including wholesale, mobility, food delivery, logistics, travel, urban services, etc.
- Current Status: Presently, ONDC is in its pilot stage in five cities — Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore — with a target of onboarding around 150 retailers.
Analysis: Benefits and Issues
- The ONDC will standardise operations like cataloguing, inventory management, order management and order fulfilment, hence making it simpler and easier for small businesses to be discoverable over network and conduct business.
- However, experts have pointed out some likely potential issues such as getting enough number of e-commerce platforms to sign up, along with issues related to customer service and payment integration.
Hence both statements are correct.
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With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Open Network for Digital Commerce (ONDC), consider the following statements:1. It is a not-for-profit organisation that will offer a network to enable local digital commerce stores across industries to be discovered and engaged by any network-enabled applications.2. The ONDC model is trying to replicate the success of the Unified Payments Interface (UPI) in the field of digital payments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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