Grameen Foundation for Social Impact, a not-for-profit organisation and Open Network for Digital Commerce (ONDC), on Thursday, signed an MoU to drive socio-economic development and digital inclusion for diverse business entities.
Shireesh Joshi, Chief Business Officer, ONDC, highlighted the benefits of joining ONDC for entrepreneurs, emphasising its network that connects businesses with customers and showcases their products. Onboarding is quick and supported by partnerships like the Sellers Network.
Grameen’s programmes promote entrepreneurship, digital literacy and enablement, and financial inclusion. Over the last few years, Grameen has been actively exploring ways and means to improve the quality, viability, and portfolio of business correspondents (BCs), who often serve as critical enablers of financial inclusion at the last mile.
Joshi notified that ONDC, with 3.3 million BCs, focuses on financial inclusion and offers comprehensive digital and financial services. Targeting tier 2 and tier 3 cities, ONDC helps local brands reach broader markets and ensures real-time payment and transparency. They plan to onboard one million merchants within a year, simplifying the process for small businesses to go online and ensuring compliance and growth.
“Together with the Grameen Foundation for Social Impact, we are looking forward to democratising the digital economy and ensuring that its transformative power reaches every corner of our society,” he added.
Bharati Joshi, interim CEO of Grameen Foundation for Social Impact, said, “Globally, Grameen aims to put poverty in museums. We lead with gender and transform through technology. We believe in investing in the power of the poor, especially women so that they can ensure a quality life for themselves and their families.”
Rahul Dube, Project Director at Grameen Foundation, informed that vendors can join the Open Network for Digital Commerce (ONDC) and must digitise their products, set prices, and complete KYC verification using their shop establishment number, GST number, or Aadhaar identity. They also need a bank account for digital transactions.
