ONDC monthly transactions hit 10 million in June: report
ONDC) monthly transaction volumes hit 10 million in June last month with 6.1 million non-mobility transactions and 3.9 million mobility transactions, said Equirus Securities India Equity Research BFSI sector report on July 7.
The open network has been adding one million transactions per month over the past two months, exhibiting strong growth, it said. Bulk of this incremental growth has been retail-driven, with non-mobility orders crossing 6 million transactions in June 2024 versus 3.6 million in March 2024,it added. Mobility transactions have declined to 3.9 million from 4.1million in March 2024, the report said.
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Offering CollegeCourseWebsiteIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitThe report further said ONDC has also cut order volume-linked financial incentives for network participants by up to 75% starting second quarter of FY2025.
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The network has also done pilots for consumer loans and incrementally looks to offer larger B2B loans up to Rs 10 million — 15 million, the report said which ET had reported about. Beyond credit, expansion into insurance and investments is on the anvil with passive funds (index, liquid funds) likely to be launched soon.
