ONDC is breaking barriers in finance, just like UPI did
The Indian government's Open Network for Digital Commerce (ONDC) is making it super easy to access financial services—think loans and mutual funds—right from any app that's part of the ONDC network, with insurance expected to be added soon.
No more being stuck with just one bank's app. ONDC works kind of like UPI for finance, breaking down old barriers.
Already, it's handled 5.5 lakh loan applications and over ₹25 crore in disbursals across the ONDC network, through platforms such as Tata Neu.
ONDC's mission is to make finance accessible for everyone
ONDC also cuts transaction costs and lets you start with smaller amounts, so more people can get involved, even if they're just starting out.
The goal is to give small businesses and everyday users the same digital opportunities as big players.
Up next: ONDC plans to add services like gold loans and more insurance options, aiming to reach even more people across India.