DFS Secretary launches BAANKNET mobile app and Digital Balance Confirmation Platform
The Secretary, Department of Financial Services launched the BAANKNET (Bank Assets Auction Network) mobile app and the Digital Balance Confirmation Platform at the PSB Alliance Annual Strategy Meet 2026 in New Delhi on 2 February 2026.
Summary
The Secretary, Department of Financial Services (DFS) launched the BAANKNET (Bank Assets Auction Network) mobile app and the Digital Balance Confirmation Platform (DBCP) at the PSB Alliance Annual Strategy Meet 2026 in New Delhi on 2 February 2026. The app makes verified bank-auction properties accessible nationwide on mobile, helping banks recover dues faster. The DBCP aims to make audits more efficient and eventually eliminate manual balance confirmation certificates.
Key facts
- Date
- 2 February 2026
- Event
- PSB Alliance Annual Strategy Meet 2026, New Delhi
- BAANKNET
- Bank Assets Auction Network — mobile app launched
- DBCP
- Digital Balance Confirmation Platform — to replace manual balance confirmation certificates
Practice MCQs 1 questions
BAANKNET, whose mobile app was launched on 2 February 2026, is a platform for what?
Show answer
Correct answer: C — Auction of bank assets such as properties
BAANKNET stands for Bank Assets Auction Network; its app gives nationwide access to verified bank-auction properties.