ONDC integrates nine LSPs, three lenders to extend credit to customers

The Open Network for Digital Commerce (ONDC), a government backed e-commerce platform, currently has nine lending service providers (LSPs) and three lenders live to extend loans to customers.

The network claims to process loans within six minutes on the back of an integration of account aggregator for data, Digilocker or Aadhaar for KYC, eNACH or eMandate for repayment and Aadhaar eSign for agreement signing.