‘Baanknet’ Property e-Auction Portal: Are you also planning to buy a house? A house that is available at a price lower than the market rate? There is good news for you. You will get the properties being auctioned by all the banks at one place. Many times you get it in auction at a lower price than the market. The Central Government has recently launched a new version of the e-auction portal ‘Baanknet’. It integrates information on assets put up for auction by public sector banks (PSBs). That is, the auctioned properties of all public sector banks can be seen on a single platform on ‘Banknet’. This portal has recently been launched by M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance.
Banknet: Will help you know about auction properties
According to the government, this portal will show information about properties listed for PSB auction at one place. Now you will not have to search the property by visiting the sites of different banks. This will show all the properties on one platform. This includes residential properties such as flats, independent houses and open plots. Apart from this, commercial properties such as industrial land, buildings, shops, vehicles, machinery and agricultural land and non-agricultural land will also be listed.
It will be easy for buyers to identify themselves before purchasing property.
This portal not only provides information about properties but also simplifies the e-auction process. This will help buyers and investors identify properties available for purchase across the country. During the launch, Nagaraju had said that this portal will not only help in the recovery process of PSBs, but will also be helpful in improving their balance sheets. Apart from this, it will also help in providing loans to common people and businessmen to buy property. This portal will help in reallocating distressed assets and enhancing investor confidence.
Features of Banknet
Single Platform: The entire process of e-auction – pre-auction, auction and post-auction – has been integrated on a single portal.
Integrated Payment and KYC: Service of self-operating payment gateway and KYC tools.
Microservice Architecture: Open API for third-party integration.
Dashboard and Reporting: Services like ‘Spend Analytics’ and various ‘MIS Reports’ will be available.
Helpdesk and Call Centre: Callback request facility for customers.
how to use
To use the Banknet portal, buyers must first register on the portal and provide the required information. To find information about properties, users have to click on the ‘Property’ option on the homepage.
so many properties are listed
So far, more than 1,22,500 properties have been added for auction on the portal. This portal has been launched with the aim of accelerating the recovery of PSBs and making property auction more easy.
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