The plan would put vehicle auctions on BAANKNET, a platform operated by PSB Alliance. For banks, the stated objective is to streamline recoveries from non-performing assets. The report describes this as a planned initiative, rather than confirming that vehicle auctions have already started on the platform.

A key part of the proposal is linking BAANKNET with VAHAN and RTO services. These connections are intended to bring complete vehicle information to the auction platform. The report does not spell out which details would be displayed or how the information would be made available to prospective bidders.

The supplied report gives no launch date for the vehicle auction initiative. It also does not identify participating banks or explain the auction process, bidder requirements or arrangements for transferring vehicles after a sale. Those operational details remain unstated, so the proposal should not yet be read as a guide for customers seeking to bid.