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 ~

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.

Tata Steel's commitment to serving its customers across diverse market segments is evident in its strategic approach. With B2B as the largest customer group, the Company is a trusted partner in key sectors like automobiles, appliances, construction, industrial products, metal components, and power generation. Tata Steel is also working towards expanding and enhancing the engagement with both retail (B2C) and the emerging B2ECA segment, consisting of small and medium-sized enterprises (SMEs), which represents the growth engine of India's manufacturing sector. Tata Steel has successfully rolled out various digital platforms and solutions - cutting across customer segments—namely AASHIYANA® (for B2C), COMPASS® (for B2B) and DIGECA® (for B2ECA)—as well as across various business verticals.

Disclaimer

Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

For queries and information

Sarvesh Kumar,

Chief Corporate Communications - Tata Steel,

E-mail : sarvesh.kumar@tatasteel.com

About Tata Steel

• Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
• It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.
• The group recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023.
• A Great Place to Work-Certified^TM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
• Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.
• The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
• Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
• The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
• Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteel^TM Certification.
• Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, No. 1 brand in India in the Mining and Metals industry in Top 100 brand rankings for 2023 by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute.
• Received 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.

Photographs: Management and Plant facilities

Logos: Files and usage guidelines 

Website: www.tatasteel.com and www.wealsomaketomorrow.com

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