SBI mega e-auction of over 1,000 properties today; check out details

The State Bank of India (SBI) will conduct a mega e-auction of over 1,000 properties today. These properties include a wide variety of open plots, residential, industrial and commercial properties. The bank has given details of properties put up for e-auctions through the links it has provided in the advertisements. People can also approach their respective SBI branch for queries related to e-auction.

"Our Bank puts up the mortgage properties (like Residential properties/commercial properties etc.) of defaulters to recover the Bank dues. For this purpose respective Branches of SBI publishes the advertisement in the leading newspapers (English and Vernacular). The Advertisements are also published in Social Media (like Twitter, Facebook, Instagram etc)," SBI said in a statement.

SBI said it has a transparent policy when it comes to putting immovable properties, mortgaged with the bank or attached by court order to auction by furnishing all relevant details to make it an attractive proposition for bidders. All details about whether a property has been freehold or leasehold, its measurement, location etc, are given to bidders in advance, it said.

Details about properties put up for e-auctions can be accessed through the links provided in the ads. There is a designated contact person for auction at SBI branches who can address all queries of the prospective buyers, it said.

Also Read: SBI fraud case: CBI raids 3 locations in Delhi over Rs 1,800 crore scam

What do you need to take part in e-auction

• Earnest Money Deposit for the particular property; online/off-line fund transfer with NEFT/transfer, using challan generated on e-auction platform
• KYC documents - to be submitted to the branch concerned
• Valid digital signature - bidders may approach e-auctioneers or any other authorised agency to obtain a digital signature
• Login Id and Password - It will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and submission of KYC documents
• Bidders to login and bid during the auction hours on the date of e-auction as per auction rules.

Important links with full details of the mega e-auction:

• -bankeauctions.com/Sbi;
• -sbi.auctiontiger.net/EPROC/;
• -ibapi.in; and
• -mstcecommerce.com/auctionhome/ibapi/index.jsp

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