SBI Latest News: The country’s top lender State Bank of India has notified a mega property e-auction to be conducted on 5th March, 2021. The e-auction will put up mortgage on residential and commercial properties as well as land, and vehicles. The bank aims to auction mortgaged properties of defaulters in order to recover the dues. The SBI has put up advertisements in leading newspapers and on the bank’s social media handles notifying the mega auction.Also Read - SBI Customers Alert! 'Delete THIS Message Immediately Or ...', Govt's Warning Amid Rising Phishing Scams

“Bid For The Best! Here’s your chance to buy cheaper Residential & Commercial Properties, Land, Plant & Machinery, Vehicles and many more. Attend SBI Mega E-Auction and place your best bid,” a post on SBI’s official Twitter handle read. Also Read - What Is SBI's Xpress Credit, How Will it Benefit Loan Eligible Customers?

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“We at SBI are very transparent when putting immovable properties, mortgaged with the Bank / attached by Court order to auction, by furnishing all the relevant details that can make it an attractive proposition for bidders to participate in the auctions,” the bank said in a statement.

“We also incorporate all relevant details and state whether the same is freehold or leasehold, give its measurement, location, etc, including other relevant details in the public notices issued for auctioning,” it added.

Requirements for participating in SBI mega property e-auction:

  • EMD for the particular property as mentioned in the e-Auction notice.
  • KYC Documents – to be submitted to the concerned Branch.
  • Valid Digital Signature -Bidders may approach e-auctioneers or any other authorised agency to obtain digital signature.
  • Login Id and Password – Will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and submission of KYC documents to the concerned branch.
  • Bidders to login and bid during the auction hours on the date of e-Auction as per auction rules.