Tata Steel Expands its Digital Services with the Launch of Urja Programme

Urja programme is now available on Company’s digital platform ‘DigECA’ ~

 

~ Programme aims to provide unsecured working capital to customers of Tata Steel distributors ~

 

Kolkata, July 5, 2023: Tata Steel is expanding its digital services with the launch of Urja, its flagship unsecured working capital finance programme, on DigECA – the Company’s centralised digital buying and selling platform for ECA (Emerging Customer Account) customers.

 

Urja programme has been designed for the MSMEs (Micro, Small & Medium Enterprises) and ECA customers of Tata Steel distributors. This facility is meant for customers seeking credit but finding it difficult to get the same due to the inaccessibility of unsecured finance from financial institutions/Banks/NBFCs.

 

Praveen Shrivastava, Chief of Marketing & Sales, Branded Products & Retail (Flat Products), Tata Steel, said: “Urja connects multiple lenders like major Banks and NBFCs with MSME/ ECA customers on this common platform and provides efficient and simplified working capital solutions offering highly competitive lending terms. The integrated plug-and-play platform ensures easy documentation and hassle-free rotational credit that can be easily replenished basis utilisation and on request.”

 

Managed by mjunction Services Limited, a joint venture of Tata Steel and SAIL, the Urja Programme operates digitally through an integrated online platform and payment system. Tata Steel and mjunction are actively working to expand the Urja Programme by adding more lenders to provide a wider range of options for ECAs.