Govt launches revamped portal ‘BAANKNET’ for e-auction of properties

By  News On Air   Jan 03, 2025

The government today launched the revamped portal ‘BAANKNET’ for the e-auction of properties. The platform consolidates information on e-auction properties from all public sector banks and offers a one-stop destination for buyers and investors to discover a wide range of assets.

Launching the portal, the secretary of the Department of Financial Services, M. Nagaraju, emphasised that the introduction of the platform will aid the recovery process of PSBs, improve the balance sheets of banks, and enhance credit availability to businesses and individuals.

The listings in the portal include residential properties such as flats, independent houses, and open plots, as well as commercial properties, industrial land and buildings, shops, vehicles, plant and machinery, and agricultural and non-agricultural land.