MSTC has signed agreement with Allahabad Bank for development of a dedicated e-Auction platform directly linked with Indian Banking Association for sale of NPAs through SARFAESI Act. The e-Auction platform will be a one of a kind solution where bidder once registered will be able to participate in auctions for all banks. This move will help the banks to monetize NPAs through a streamlined process thereby increasing revenue generation.
MSTC is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India.
