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

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

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

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

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

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