State-run banks will set up an e-auction app to dispose of about 500,000 properties over the next five years. “Our target is that in the next five years, around six lakh transactions be done through the app, which include over one lakh auctions, and loan applications for those properties,” said a senior bank executive, who did not wish to be identified.
The app will act as a repository for all information, data and documents, which will be easily retrievable.
Source:
Economic Times
