Punjab National Bank mega e-auction to take place on Friday - see participation and other details here

PNB Mega e-auction: Punjab National Bank (PNB) has some good news for you. PNB is holding a mega e-auction tomorrow, November 26, 2021. One can login to the official website of PNB at pnbindia.in for further details.

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PNB has recently tweeted about the e-auction from its official Twitter handle. The tweet said, "The best property in town is awaiting you. Participate in PNB's Mega e-Auction to get reasonable prices for residential and commercial property. To know more, visit e-Bikray Portal: ibapi.in."

The best property in town is awaiting you.

Participate in PNB's Mega e-Auction to get reasonable prices for residential and commercial property. To know more, visit e-Bikray Portal: https://t.co/N1l10s1hyq#MegaEAuction pic.twitter.com/rKafhy5Slh

— Punjab National Bank (@pnbindia) November 24, 2021

The bank further informed that it is holding online mega e-auction of residential and commercial properties in a transparent manner under SARFAESI Act.

The details about the residential, commercial and industrial properties that are being e-auctioned have been provided by the Indian Banks Association (IBA) on its Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal.

Now, the interested customers must note that 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.

The interested customers must be aware of how to participate in the e-auction. The 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.

The properties that are held under the SARFAESI Act include - Houses , Flats , Office spaces , Land/ plots and Industrial properties.

In case of any query, the interested customers from both the banks can login to the official website of e-Bikray Portal at ibapi.in.