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Finance Minister Sitharaman launches 'eBkray' auction platform for assets attached by banks


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Finance Minister Nirmala Sitharaman today launched eBkray(https://ibapi.in/), an e-auction platform to enable online auction of attached assets by banks. The platform provides navigational links to all PSB e-auction sites, property search feature and presents single-window access to information on all properties that are available for e-auction, comparison of similar properties, and also contains videos and photographs of uploaded properties.
Screen shot of the website
Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal is an initiative of Indian Banks Association (IBA) under the policy of the Department of Financial Services (DFS), Ministry of Finance, to provide details of mortgaged properties to be auctioned online by banks, starting with PSBs.

Sitharaman, while launching the platform, said, "There has been information asymmetry when bank attached assets are auctioned which will come to an end with the launch eBkray."

Sitharaman was holding a review meeting of the banking sector with Chairman and Managing Directors of Public Sector Banks (PSBs) in the national capital. Rajeev Kumar, Finance Secretary, Atanu Chakraborty, Secretary, DEA and AB Pandey, Revenue Secretary, were also present in the meeting.

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