E Auction  

PSBs has attached assets worth over Rs. 2.3 lakh crore over the last three financial years and to enable online auction by banks of attached assets transparently and cleanly for the improved realization of value, eBkray, a common e-auction platform was launched by the Finance Minister on 28th December. The platform is equipped with property search features and navigational links to all PSB e-auction sites, provides single-window access to information on properties up for e-auction as well as the facility for comparison of similar properties, and also contains photographs and videos of uploaded properties.

'Attached vehicles of absconding bank fraud accused Nirav Modi, and Mehul Choksi were e-auctioned through Metal Scrap Trade Corporation Ltd. (MSTC) as per order (dated 20.03.2019) of Hon’ble Special Judge (PMLA), Mumbai,' ED said.

The proceeds from this auction will be used for Namame Gange, a government programme that was launched with the idea to clean the Ganga. The auction is being organised through digital medium to maintain transparency