Now, in the auction conducted by the bank, you will be able to easily buy anything from flats to residential and agricultural land along with plants and machinery. To make the auction process easy and available to all, Secretary of the Financial Services Department of Finance Ministry M. Nagaraju launched a portal named Banknet on Friday.

On this portal, all government banks will provide complete information about flats, houses, land, vehicles, machinery, and plants. By visiting the portal, any person can take information about all the properties to be auctioned and participate in it. If you are facing any problem, you can also call the call center.

Now you have to search on different portals.

Now people search for houses, flats, and vehicles by visiting different types of portals. Now you can also do this kind of search on the Banknet portal. Right now, detailed information on 1,22,500 properties to be auctioned at various places in the country has been uploaded on the Banknet portal. Complete information before the auction of the property and after the auction will be given on the portal.

Government banks recover their money by auctioning the property, land, plant, machinery, and vehicles of the loan defaulters. For this purpose, banks invite people to participate in the auction process by placing advertisements in newspapers.

All government banks will give information about the auction on Banknet. With the launch of this portal, more and more people will be able to participate in this auction and the bank can get a higher price. There will be no fear of any fraud with the customers on shopping by going to this portal.

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