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Aditya Birla Capital Becomes the First BFSI Company to Offer All Financial Services on ONDC Network.

Economy Business | Dated: 31 Dec 2024

Aditya Birla Capital Limited (ABCL), based in Mumbai (Maharashtra), has become the first BFSI (Banking, Financial Services, and Insurance) company to provide all three key financial services—lending, insurance, and Mutual Fund (MF) investments—on the Open Network for Digital Commerce (ONDC) platform.

🎯 Key Highlights:

  • - This initiative aims to promote financial inclusion across India, focusing on improving access to financial products, particularly in underserved markets.

💡 Other Important Facts:

  • (i) The ONDC network will now allow several live buyer applications (apps) to offer their customers Mutual Funds (MF), health insurance, and personal loans from ABCL.
  • (ii) Aditya Birla Finance Limited (ABFL) was one of the first to integrate credit during the ONDC pilot phase, while Aditya Birla Health Insurance Company Limited (ABHICL) and Aditya Birla Sun Life Asset Management Company (ABSLAMC) were among the pioneers in offering health insurance and Mutual Funds (MFs) on the platform.

📚 Test Your Knowledge:

Recently, which company became the first BFSI company to offer all financial services on the ONDC network?

Correct Answer: Aditya Birla Capital Limited (ABCL)

🚀 Quick Recap:

About Aditya Birla Cap

  • CEO: Vishakha Mulye
  • Head Office : Mumbai