Public Sector Banks have attached assets worth over Rs. 2.3 lakh crore over the last three financial years and to enable online auction by banks of attached assets transparently and cleanly for improved realisation of value, eBक्रय, a common e-auction platform was launched on December 28, 2019 by the Finance Minister.
About the eBक्रय platform
- The platform is equipped with property search features and navigational links to all PSB e-auction sites, provides single-window access to information on properties up for e-auction as well as facility for comparison of similar properties, and also contains photographs and videos of uploaded properties.
- As on 27.12.2019, a total of 35,000 properties had been uploaded on the platform by PSBs.
- To strengthen banks, in addition to the recent infusion of Rs. 60,314 crore, additional infusion of Rs. 8,855 crore (Rs 4360 crore to Indian Overseas Bank, Rs 2153 crore to Allahabad Bank, Rs 2142 crore to UCO Bank and Rs 200 crore to Andhra Bank) has been approved and would be released shortly.
- Having improved asset quality and internal resource generation, PSBs are now fully poised to support prudential credit growth towards a $ 5 trillion economy by 2025.
