Saturday, June 30, 2018

E-Payment: What is Lien Feature?

Lien facility is the facility given to bidder to integrate their SBI Bank account with IREPS and then mark the lien for desired amount, available in their SBI account, through IREPS. Once the lien for a particular amount is held with IREPS system, user will not be able to withdraw/ use this lien marked amount from his SBI account. 

This amount will be used solely for bidding; bidder can however release/modify the amount of lien at later date subject to verification for availability of the same by IREPS. Lien mark/unmark can be done through link on left navigation of bidder “Mark /Unmark Lien” after integration of bank account through link “Integrate bank account”. Lien Fund will be transferred after a lot has been awarded to bidder by the concerned auction conducting officer from Integrated SBI account on which lien is marked.

Lien Feature:

This Feature is currently available only with State Bank of India (SBI) for participating in E-Auction. In Lien amount is blocked in the User's SBI account. In Lien Feature there are three activity involve:
  • Integrate Bank Account: It mean linking of SBI account with IREPS
  • Mark / Un-mark Amount: It means blocking and unblocking of amount for bidding in E-Auction
  • Lien Fund Transfer: EMD of lot awarded will be transferred to Railways from blocked amount.


IREPS: Indian Railways e-Procurement System

No comments :

Post a Comment