mjunction e-distributes 1.94 lakh metric tons of coal allocated by MSMC for MSMEs in Maharashtra
New Delhi, May 3 (KNN) mjunction services limited, a JV between Steel Authority of India and TATA Steel for digitized coal distribution, has successfully e-distributed 1.94 lakh metric tons of coal to micro, small and medium enterprises in the state for MSMC.
The Maharashtra Government appointed Maharashtra State Mining Corporation (MSMC) as the state nominated agency (SNA) for coal distribution to MSMEs IN the state.
In order to improve ease of doing business and make more coal available for the sector as per the New Coal Distribution Policy of Ministry of Coal, MSMC was made the state nominated agency (SNA) for coal distribution to the sector.
To make the entire distribution process transparent and consumer friendly, MSMC decided to replace offline practices by system based automated solutions.
MSMC entrust the responsibility of digitizing coal distribution in the state to mjunction services limited which further roped in various MSMEs to successfully register onto its online system after undergoing a stringent due diligence process with the help of the district authorities.
Vinaya Varma, CEO of mjunction, said, “The web-enabled e-distribution platform makes coal available online in a fair manner. The digitization of the coal distribution process will go a long way in empowering the MSMEs in realizing their full potential. MSMEs can then provide the much needed impetus in the country’s economic growth and GDP figures.”
He pointed that Maharashtra is the most successful state in India in terms of volumes of coal booked and allocated to various consumers.
Out of the total coal offered by Coal India to Maharashtra, 93 per cent have been booked by MSMEs through the online platform.
“MSMC has been able to distribute 1.94 lakh tonnes of coal through this platform, with a transaction value of around Rs 4800 lakhs in its first year of operation,” he said.
MSMC MD, Dr. Nirupama Dange said, “The digitization of coal distribution has ushered in a new age of transparency and accountability. The coal e-distribution system has helped MSMC to meet the objectives of the various stakeholders.”
mjunction has pioneered e-distribution of coal in India, starting with West Bengal Mineral Development and Trading Corporation Ltd. a West Bengal Government undertaking. Recently mjunction has also won the mandate from Bihar State Mining Corporation for e-distribution of coal to MSMEs of Bihar. (KNN Bureau)