• SBI set up mortgage assets from defaulting debtors to collect contributions through this electronic auction and published the ad in major newspapers with its social media accounts – Facebook, Twitter, Instagram, etc.
• The bid price will be lower than the actual market value. During the electronic mega auction, individuals will have the opportunity to bid on residential, commercial and industrial properties.

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Requirements to participate in the SBI electronic mega-auction:

• EMD for the particular property as mentioned in the electronic auction notice.
• KYC documents should be submitted to the relevant SBI branch.
• Valid Digital Signature: Bidders may contact online auctioneers or any other authorized body to obtain a digital signature.
• Once the bidder submits the EMD deposit and KYC documents to the relevant branch, their registered login ID and password will be emailed by the online auctioneers.
• Bidders must log in and bid during auction hours on the date of the electronic auction in accordance with the auction rules.