The State Bank of India (SBI), India’s largest public sector bank, has recently initiated a structured move towards streamlining and standardizing the performance evaluation of empanelled valuers across several regions. This move is being implemented in phases, with many regional offices already rolling out a newly designed Valuer Review Format. It’s a timely and critical development that deserves the attention of valuation professionals and aspiring engineers involved in property, asset, and infrastructure assessments.

🔍 What’s Changing?

In recent weeks, SBI has begun dispatching a Valuer Review Format through official email channels and various professional WhatsApp groups used to coordinate with empanelled valuers. The review format is designed to assess multiple performance parameters of valuers who are registered and work under the aegis of the bank.

If you haven’t received this format yet, don’t assume you’re excluded. Given the phased approach, it is highly likely that your SBI regional office will issue the format shortly. Now is the time to prepare.

🧾 Legal & Regulatory Landscape: Compliance is Key

In India, the valuation profession is governed by various frameworks under the Companies Act, 2013, the SEBI (REIT and InvIT) Regulations, and most prominently, the Registered Valuers and Valuation Rules, 2017 under the Ministry of Corporate Affairs (MCA). Empanelment with financial institutions such as SBI also requires adherence to internal bank policies, RBI guidelines, and regulatory provisions related to asset classification and reporting.

The recent SBI initiative aligns with broader objectives of:

• Improving accountability and quality assurance in asset valuation.

• Ensuring timely delivery of reports for loan processing.

• Mitigating risk of overvaluation or undervaluation, which has legal and financial implications.

Under Section 247 of the Companies Act, 2013, only a registered valuer is authorized to undertake valuations when required under the Act. Valuers are also subject to scrutiny under the Insolvency and Bankruptcy Code (IBC) where accurate valuation impacts resolution outcomes. Banks, especially SBI as a leading lender, have a fiduciary and legal duty to ensure that valuations used in lending or asset reclassification are credible, independent, and well-documented.

The new review format appears to be part of a proactive compliance culture to enforce transparency, traceability, and professional ethics in valuation practice.

📋 What Does the Review Format Include?

Though formats may slightly vary between regions, they are expected to cover core parameters such as:

• Timeliness of report submission

• Accuracy and reliability of valuation

• Field visit verification

• Photographic documentation

• Regulatory compliance adherence

• Professional conduct and responsiveness

• Feedback from concerned SBI branch managers

The review results could directly impact a valuer’s continuation on the bank’s panel, future assignments, or even trigger reevaluation of empanelment eligibility.

🧠 What Should Valuers Do Now?

1. Check Your Communication Channels: Make sure you’re checking official emails and associated professional WhatsApp groups. If in doubt, contact your local SBI branch or Regional Business Office.

2. Review Past Assignments: Ensure that your valuation reports meet standards set by the International Valuation Standards (IVS) and the Indian Valuation Standards (IVS by ICAI-RVO). Discrepancies, inaccuracies, or delays in previous work may reflect poorly during performance evaluation.

3. Update Your Documentation: Maintain meticulous records of all property inspections, calculations, photographs, and supporting legal documents.

4. Continue Professional Education: Stay updated with CPD (Continuing Professional Development) mandates and legal amendments through your RVO (Registered Valuers Organisation) or other recognized bodies.

🏁 Final Thoughts

The SBI Valuer Review Format is not just another procedural document—it’s a reflection of a growing shift in India’s financial ecosystem towards enhanced professionalism, accountability, and legal compliance in the valuation domain. For practicing valuers and engineers aspiring to join the panel of nationalized banks, this is a signal to raise the bar, stay prepared, and deliver excellence.

As India moves towards financial resilience and reform, the valuation profession stands as a critical pillar in ensuring that lending decisions, asset resolutions, and infrastructure investments are backed by sound judgment and verified data. SBI’s review process is a step in this direction—and the valuation fraternity must rise to the occasion.

📣 Stay informed. Stay compliant. Stay competitive.