Grameen Foundation for Social Impact, a non-profit organization, has partnered with the Open Network for Digital Commerce (ONDC) through a Memorandum of Understanding (MoU) to enhance socio-economic development and digital inclusion for various business entities.
This collaboration will provide members of Farmer Producer Organizations (FPOs), nano, micro, small, and medium-sized enterprises (NMSMEs), self-help groups (SHGs), women entrepreneurs, startups, and similar entities with access to numerous economic opportunities. Grameen and the ONDC Network aim to accelerate digital inclusion and support the growth of these organizations and their members’ businesses.
Bharati Joshi, Interim CEO of Grameen Foundation for Social Impact, highlighted the focus on investing in the power of the poor, especially women, to ensure a quality life for themselves and their families. Shireesh Joshi, Chief Business Officer of ONDC, emphasized the commitment to creating an inclusive digital ecosystem that provides equal opportunities for businesses of all sizes and backgrounds. He noted that by breaking down barriers, diverse entities, from nanoenterprises to women entrepreneurs, are empowered to thrive in the digital economy.
ONDC is also in discussions with banks and other financial technology firms such as HDFC Bank, IDFC First Bank, and Karnataka Bank. This collaboration aims to provide unsecured loans and GST invoice loans to small-scale merchants and retailers in underdeveloped areas of the country.