SBI Mega E-Auction: If you want to buy house or land or want to buy plant and machinery but do not have enough capital, then you can participate in the State Bank of India (SBI) mega e-auction starting from March 5. In this mega e-auction, there will be an opportunity to buy cheap residential and commercial properties, land, plant and machinery, vehicles and many other things cheaply. SBI has given information about the mega e-auction by tweeting. Place your bid by participating in this e-auction and you can fulfill your needs cheaply. The auction includes residential, industrial, commercial and agricultural properties. In this e-auction, all those items which the bank had pledged to give transactions to a person and forfeiting the loan were seized by the bank.
Mortgage property is auctioned
The bank mortgages certain assets (such as residential property, commercial property) to its customers for lending. If the customer fails to repay the loan, the bank auctions their mortgage properties to recover the dues. For this, the respective branches of SBI publish advertisements on newspapers and social media, in which all information related to the auction is given. Apart from the mortgaged properties, the bank also conducts auction of immovable properties attached by the court. The bank provides all the necessary information in the public information released for the auction. Apart from this, a person can also inspect the properties to be auctioned.
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Things required to participate in Mega E-Auction
- EMD (Earnest Money Deposit) for the related property given in the notice of e-auction.
- ‘KYC Documents- It has to be shown in the concerned bank branch.
- Valid Digital Signature – The bidding person has to contact the e-auctioneer or any other authorized agency to get the digital signature.
- Login ID and Password – After submitting EMD and showing KYC documents to the concerned bank branch, e-auctioneer will send the login ID and password to the email ID of the bidders.
- Bidders can bid by logging in at the time of auction on the day of e-auction as per auction rules.
More information about properties and bids will be found here
- C1 India Private Limited https://www.bankeauctions.com/Sbi
- E-Procurement Technologies Limited: https://sbi.auctiontiger.net/EPROC/
- To view properties: https://ibapi.in
- Auction Platform: https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp