ONDC is an open network, tech-enabled infrastructure to enable eCommerce across domains, increases the discoverability of players operating from remote locations, and engages through any network-enabled application. ONDC is in an early stage of formation. It has been incorporated as a Section 8 company in December 2021 with the Quality Council of India and Protean eGov Technologies Limited as initial promoters. Other institutions that have committed funding are : National Stock Exchange of India Ltd. National Payments Corporation of India BSE Central Depository Services (India) Ltd. HDFC Bank Kotak Mahindra Bank Small Industries Development Bank of India Punjab National Bank State Bank of India Axis Bank NABARD Bank of Baroda