News:Union Finance Minister has launched an eBkray or eBक्रय which is a common e-auction platform.
About the eBkray platform:
- The eBkray platform enables the online auction of the attached assets transparently and cleanly for the improved realization of value by the Public Sector banks(PSBs).
- The platform is equipped with property search features and navigational links to all PSB e-auction sites.
- It also provides single-window access to information on properties up for e-auction as well as facility for comparison of similar properties.
- It enhances user experience through seamless access to information by search based on the type and location of property put up for e-auction by banks in India.
- The e-auction platform has also now been linked to the Indian Banks Auctions Mortgaged Properties Information(IBAPI) portal and guidelines have been made available.
About Indian Banks Auctions Mortgaged Properties Information(IBAPI):
- IBAPI is is an initiative of Indian Banks Association (IBA) under policy of Department of Financial Services (DFS), Union Ministry of Finance.
- It provides details of mortgaged properties to be auctioned online by banks, starting with PSBs.
- The buyers can use the portal to search and get properties details and participate in auction process.Currently,21 banks are onboard on this portal.