Tata Steel broadens digital reach with launch of Urja on DigECA

Tata Steel has announced the integration of Urja, an unsecured working capital finance initiative, onto DigECA, its centralised online buying and selling platform tailored for Emerging Customer Account (ECA) customers.

This new addition to Tata Steel‘s digital portfolio aims to alleviate the financial strains of Micro, Small & Medium Enterprises (MSMEs) and ECA customers who often struggle with obtaining unsecured finance from traditional lending institutions.

Managed by mjunction Services Limited, a Tata Steel-SAIL collaboration, Urja is entirely digital, operating via a unified online platform and payment system. To ensure customer choice and accessibility, both Tata Steel and mjunction are extending their efforts to incorporate more lenders into the Urja Programme.

Praveen Shrivastava — Tata Steel Chief of Marketing & Sales, Branded Products & Retail (Flat Products) 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.”

Further emphasizing its dedication to diverse market segments, Tata Steel showcases its strategic customer-centric approach. As a respected industry partner in numerous sectors such as automobiles, appliances, construction, industrial products, metal components, and power generation, the company continuously reinforces its position.

With B2B customers making up the largest group, Tata Steel is also fostering its relationships with retail (B2C) clients and the emerging B2ECA segment. This latter group, comprised of small to medium-sized enterprises (SMEs), is seen as a key driver of India‘s manufacturing growth.

In line with its expansion strategy, Tata Steel has successfully implemented various digital platforms catering to different customer segments. This includes AASHIYANA for B2C, COMPASS for B2B, and now, with the latest addition of Urja, the DIGECA platform for B2ECA. These various digital initiatives underscore Tata Steel’s commitment to innovation across its diverse business verticals.