Q&As

The Property taxes,electricity dues and maintenance dues have to be borne by the bidder

The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest(SARFAESI) Act, 2002 is a legislation that helps financial institutions to ensure asset quality inmultiple ways. This means that the Act was framed to address the problem of NPAs (Non-Performing Assets)or bad assets through different processes and mechanisms.The SARFAESI...

Assets for a bank are the loans it has given and investment made by the bank. Most important assets for banks are loans given by it. Similarly, banks make investment in government securities by purchasing them.Usually, the health as well as the financial condition of a bank is measured through...

A no recourse is a type of loan secured by collateral, which is usually property. If the borrower defaults, the issuer can seize the collateral but cannot seek out the borrower for any further compensation, even if the collateral does not cover the full value of the defaulted amount. This is one instance...

The auction properties for sale are not always safe to buy.Note: First time buyers need to be careful while buying auction property put for sale by the bank.

The interim sale certificate is the certificate issued by the bank after successful bidder payed 25% of the highest bid amount to the bank

Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates.Examples of physical certificates are drivers' licenses, passports or membership cards.Certificates serve as a proof of identity of an individual for a certain purpose; for example, a driver's license identifies someone who can legally...

The sale certificate is the certificate issued by the bank after successful bidder payed remaining 75%of the highest bid amount to the bank within 15 days(working and non working days together)

The sale certificate shall be issued in the name of the successful bidder who has submitted his KYC documents for the auction.

The sale certificate shall be issued in the name of the successful bidder.No request for change of name in the sale certificate other than the person who submitted the bid / participated in the e-Auction will be entertained