Government of India launched the revamped ‘BAANKNET’ portal to streamline the e-auction process for properties held by public sector banks
What is BAANKNET?
A centralized platform for the e-auction of properties held by PSBs, designed to boost transparency, efficiency, and accessibility.
Department/Ministry: Managed by the Department of Financial Services (DFS) under the Ministry of Finance.
Objectives:
Streamline Recovery: Aid PSBs in recovering bad loans and improving balance sheets.
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