India lines up banks for e-commerce effort to take on Amazon, Walmart

The success of ONDC, which would promise equal access to all online sellers and buyers regardless of their size, is a priority for PM Modi

India's effort to break Amazon Inc and Walmart Inc's dominance of its e-commerce sector, by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter said.

Some of India's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for Digital Commerce (ONDC), which the Indian government soft-launched in April, the sources told Reuters.

The success of the network, which would promise equal access to all online sellers and buyers regardless of their size,