Nagaland’s DoIC signed MoU with YES Bank & Sellmetric Pvt Ltd to Utilize ONDC platform

Current Context: On March 7, 2024, the Department of Industries & Commerce, Government of Nagaland, signed a Memorandum of Understanding with YES Bank and Sellmetric Pvt. Ltd in Kohima, Nagaland.

• The ONDC is a flagship initiative of the Department for Promotion of Industry & Internal Trade (DPIIT) under the Ministry of Commerce & Industry to democratize e-commerce.
• The primary aim of this tripartite agreement is to collaborate in facilitating digital sales for small businesses, farmers, entrepreneurs, etc., through the ONDC platform, which is a new initiative backed by the Government of India.
• The MoU signing was attended by Kekhrievor Kevichusa, Commissioner & Secretary, Industries & Commerce, A Temjen Jamir, Director, Industries & Commerce, Y Lipongse Thongtsar, Additional Director, Industries & Commerce from the department, and Nitin Kuchhal, Executive Vice President, Digital Banking Sales, and Priyanku Sharma, Vice President, Digital Banking Sales, representing YES Bank.

Question:

Q.1 What is the primary aim of a tripartite agreement between Nagaland & Yes Bank?
a. To facilitate digital sales for large corporations
b. To facilitate digital sales for small businesses, farmers, entrepreneurs, etc.
c. To promote traditional commerce
d. To promote the use of physical currency