PNB e-Auction

The Punjab National Bank (PNB) has announced that the bank is going to organise a mega e-Auction event on August 12. The bank stated that this is a good chance for people who want to invest in real estate and want to buy a house, shop or land at reasonable rates. In the auction, all types of real estate properties like housing, residential, commercial and industrial will be available for the auction. By participating in the E-auction, anyone can buy a house, shop or plot at the bid price.

The bank in a Tweet, said, “Looking for residential and commercial properties at reasonable rates? PNB Mega e-Auction is giving you the right opportunity. Date: August 12 Portal: ibapi.in’’. The bidders can register for the mega e-Auction on the website—ibapi.in

And other related updates and information about the e-Auction are available on the Indian Banks Auction Mortgage Properties Information (IBAPI) website ibapi.in. The portal has been formed by the Indian Banks Association.

The list of default included properties are 3,175 commercial properties, 14,117 residential properties, 1,574 Industrial Properties, and 105 agriculture properties up for auction in the mega auction of PNB.

To take part in e-Auction, the bidder needs to do Earnest Money Deposit (EMD) for the registered property given in the e-Auction notice. Then the ‘KYC documents’ will be scanned at the concerned branch of PNB. The bidder participating in the auction must have a digital signature ready before signing up for auction at ibapi.in.

The e-auctioneer will send the login ID and password to the bidder’s email id after depositing the EMD at the concerned bank branch. As per the rules of the auction, bidding can be settled by logging in on time on the day of the e-auction.