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Definition

Financial management technique used by corporate treasurers to accelerate the collection of receivables, control payments to trade creditors, and efficiently manage cash.

Finance junction leverages the benefits of the Cash Management System for efficient, convenient & transparent collection of Receivables from Bidders & Customers with the help of the Partner Banks.

• A unique cheque collection facility for Secondary Products Buyers
• Bidder takes print out of the pay-in-slip generated from MJ site
• Attach the instrument / cheque with the pay-in-slip
• Instruments would be accepted only at selected HDFC / SBI Branches. High Value Instruments should be deposited within the cut off time prevalent at the local centre
• Deposit the cheque along with the pay-in-slip
• The amount gets credited in Client's, a/c as per arrangement

Objective

To enable efficient collection mechanism for materials sold by Client through mjunction .

Value Proposition

Buyer

• Easy mechanism of payment


• Savings in terms of Demand Draft / Pay Order & Courier Charges

Client

• Faster collection of Sales Proceeds


• Increased participation of outstation buyers due to ease of payment


• Improved Liquidity Position

Role of finance junction

• MJ provides a single point of contact for the E-CMS , in terms of Design, Implementation & Continuous Refinement of the process.


• Liasioning with Partner Bank for ensuring efficient processes accordance to Client needs

Achievements

• Successfully Implemented for Earnest Money Deposit & EMD Collection for Metaljunction , Coaljunction ,Value junction


• Collected in excess of Rs 6000 Crs.


• High Degree of Bidder Satisfaction.