BoB e-auction: Bank of Baroda mega e-auction today; know where and how to participate, benefits and more

What is this e-auction?

In a recent tweet from its official Twitter handle, the BoB said ,"Your chance to own a property is now closer than you think! #BankofBaroda presents Mega e-Auction on 23rd September 2021, where you can get a property of your choice with ease. Know more bit.ly/3y6R68U."  The customers from Bank of Baroda can make the most of this e-auction and purchase the property of one's choice with ease. Source: BoB Twitter

 

Where to participate?

The Bank of Baroda websites suggests the interested customers to visit the eBkray portal of Indian Banks Auctions Mortgaged Properties Information (IBAPI). Source: ibapi.in

 

What is IBAPI portal and how to participate from it?

The IBAPI portal is an initiative of Indian Banks Association (IBA) under the overarching policy of the Department of Financial Services (DFS), Ministry of Finance to provide a common platform to display details of mortgaged properties to be auctioned online by banks, starting with Public Sector Banks.

A user can directly access the portal without registration/login. The potential bidders can select segmented data bank-wise and as per location (states and districts) across banks. The user can search property details state-wise, district-wise and bank-wise. Source: Reuters

What are the properties available?

The interested customers must note that the mega e-auction under the SARFAESI Act on September 23, 2021, will consist of the following properties - houses, flats, office spaces, land/ plots and industrial properties. Source: PTI

 

What are the key benefits?

The key benefits of this e-auction are as follows -  clear title, immediate possession and bank loan on easy terms. Source: BoB Twitter