Lok Sabha Question No. 3883 (UNSTARRED), answered on 2025-03-24
Subject: e-BKray Portal
Ministry: FINANCE
Asked by: Shri Jugal Kishore

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

Unstarred Question No. 3883 Answered on Monday, 24 th  March, 2025/3 Chaitra, 1947 (Saka)

## e-BKray Portal

## Ϯ 3883. Shri Jugal Kishore:

Will the Minister of FINANCE be pleased to state:

- (a) the details of e-BKray portal along with its salient features;
- (b) whether the said portal is likely to help in increasing transparency and faster disposal of cases; and
- (c) the names of the entities/institutions which are likely to use the said portal?

## ANSWER

The Minister of State in the Ministry of Finance (Shri Pankaj Chaudhary)

- (a) In order to boost the sale value realized through bank e-auctions, Public Sector Banks(PSBs) were requested by Department of Financial Services to redesign their e-auction platform. The platform 'e-BKray' was launched on 28 th  February, 2019. In order to further streamline the listing and auctioning of assets of Banks, a revamped e-auction portal named 'BAANKNET' was launched on 03 rd  January, 2025.

The salient features of the BAANKNET portal are as follows:

-  State-of-the-art Innovative Platform: A  cutting-edge property listing and eauction  platform  specifically  designed  for  banks  and  lending  institutions  to address the recovery of Non-Performing Asset (NPA) loans through efficient property auctions.
-  Robust Architecture: Ensures seamless reliability and accessibility for users through  both  mobile  and  web  interfaces,  making  it  easy  for  stakeholders  to interact with the platform.
-  Automated KYC and Secure Payment Gateways: Integrates advanced Know Your  Customer  (KYC)  tools  and  secure  payment  gateways,  ensuring  a transparent and secure auction process.
-  Comprehensive  Property  Listings: Offers a convenient solution from property 'search' to 'sale' for all types of properties across India, streamlining the entire auction journey.
-  Simplified Navigation: Provides an easy-to-use interface for property search and auctions, making the process user-friendly and accessible.
-  Smart Auctions and Fair Pricing: Facilitates intelligent auction mechanisms, ensuring fair pricing and maximum value for all listed properties.
-  Transparency  and  Seamlessness: Guarantees  transparent,  efficient,  and seamless auction processes, enhancing stakeholder trust and confidence.
-  Bank Verified  Titles: Ensures  that  all  property  titles  are  verified  by  banks, providing authenticity and reliability in the auction process.

(b) The BAANKNET portal is specifically designed to enhance transparency and speed  up  the  process  of  disposing  of  Non-Performing  Asset  (NPA)  cases.  By leveraging state-of-the-art technology and integrating automated KYC tools, secure payment gateways, and bank-verified property titles, the platform ensures a high level of transparency throughout the property auction process.

(c) All  12  Public  Sector  Banks,  and  Insolvency  and  Bankruptcy  Board  of  India (IBBI) are using the platform for listing and auction of properties across the country.

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