APPLICATION FOR EMPANELMENT OF VALUERS

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PUBLIC NOTICE – EMPANELMENT OF VALUERS

ISSUED DATED-15/05/2026

UCO BANK invites online applications for Empanelment of Valuers for a period of 3 Years from the eligible individuals, Partnership firms, and companies, subject to fulfillment of the criteria related to Educational Qualifications, Experience, Terms and Conditions etc. as mentioned in Guidelines for process for empanelment of valuers (Annexure – I to Annexure – V), subject to annual review.

Applications are to be submitted online by uploading the scanned copy of the qualification and proof of experience on the UCO BANK website (www.ucobank.co.in) under the Tender/Notices section – Empanelment of valuers.

In addition, the prospective valuers should note that:

a) For the purpose of valuation under the SARFAESI Act 2002, the valuers should possess registration under section 34AB of the Wealth Tax Act.
b) For valuation of assets in respect of Companies, valuers should be registered with the Insolvency and Bankruptcy Board of India (IBBI) as per the extant provisions of the Companies Act.

Therefore, the applicant valuers must submit their status in respect of the provisions under the SARFAESI Act and the Companies Act.
The online application link for submission of supportive documents will be available up to 15-06-2026 in bank website only.

In case any Valuer has been found guilty of misconduct in a professional capacity in some other Bank/Institution and his name has been circulated /reported by the Indian Bank Association (IBA)/ Central Bureau of Investigation (CBI)/ Reserve Bank of India (RBI)/ any other Govt. Agency/Body, the application will not be considered for empanelment.
Bank reserves the Right to amend/modify any terms of empanelment and withdraw the advertisement without any notice.

In connection with the implementation and operational support of the online module, we are hereby providing the contact details of the concerned officials for extending necessary assistance in case of any issue or difficulty faced during the functioning of the module.

UCO Bank Issues Major Public Notice for Empanelment of Valuers

New Opportunities and Stricter Compliance Framework for the Valuation Profession

UCO Bank Introduces Comprehensive Empanelment Framework for Valuers

Major Reform Expected to Strengthen Professional Standards in the Indian Valuation Sector

By CTN PRESS – A Prominent Newspaper of Valuers

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In a major development for the valuation profession in India, UCO Bank has issued a detailed public notice inviting applications for empanelment of valuers for a period of three years. The initiative is being viewed as a significant step toward strengthening professionalism, transparency, regulatory compliance, and technical standards in banking valuations.

The bank has invited applications from individual valuers, partnership firms, and companies engaged in valuation services. The guidelines clarify that valuers handling assignments under the Companies Act, 2013 must possess registration with the Insolvency and Bankruptcy Board of India (IBBI), while valuers conducting assignments under the SARFAESI Act provisions must comply with statutory registration requirements.

The policy introduces a comprehensive framework covering eligibility criteria, qualification standards, operational procedures, code of conduct, due diligence requirements, valuation methodologies, and performance monitoring mechanisms.

The guidelines recognise qualifications and memberships from several leading professional institutions, including engineering bodies, Registered Valuer Organisations (RVOs), chartered accountancy institutions, and internationally recognised valuation organisations, including the Council of Engineers and Valuers..

For valuation of land and buildings, the bank has prescribed qualifications in civil engineering, architecture, town planning, and related disciplines, while separate eligibility standards have been prescribed for plant and machinery valuers from technical engineering backgrounds.

The framework places strong emphasis on due diligence and professional accountability. Valuers are expected to conduct physical inspections, verify property details independently, maintain proper documentation, and prepare technically supported valuation reports. The bank has discouraged superficial or document-based valuations and stressed the importance of evidence-based assessment.

One of the key features of the policy is the adoption of a risk-based valuation approach. The guidelines recognize that improper valuations can directly affect banking stability, loan recovery, non-performing assets, and fraud prevention mechanisms. As a result, valuers are increasingly being viewed as financial risk professionals rather than merely technical estimators.

The policy also highlights the growing importance of ethical independence. Valuers are expected to maintain objectivity, avoid conflicts of interest, and resist external influence while preparing valuation reports. The bank has clearly stated that professional misconduct may result in permanent removal from the approved panel.

The guidelines further promote compliance with International Valuation Standards (IVS), indicating the increasing alignment of Indian valuation practices with global professional standards.

Experts believe that the new framework reflects broader regulatory reforms taking place in India through the Insolvency and Bankruptcy Code, Companies Act reforms, RBI supervision systems, and enhanced banking compliance mechanisms.

The empanelment initiative is also expected to create significant opportunities for young engineers, architects, accountants, and technical professionals seeking careers in valuation practice. The growing importance of IBBI registration, valuation education, and professional certifications is likely to further professionalise the sector.

Industry observers believe that similar frameworks may soon be adopted by other public and private sector banks, leading to stronger governance, centralised monitoring, standardised reporting systems, and improved valuation quality across the financial sector.

According to experts from the valuation fraternity, the policy represents an important milestone in the evolution of the Indian valuation profession and balances professional opportunities with accountability, compliance, and banking risk management.

CTN PRESS observes that the UCO Bank framework signals a major transition toward a more organized, transparent, technology-driven, and internationally aligned valuation ecosystem in India. If effectively implemented, such reforms may significantly enhance the credibility and professional standing of valuers within the Indian financial system.

In a significant development for the valuation fraternity across India, “UCO Bank”an “Indian Public Sector Bank” has issued a comprehensive public notice inviting online applications for the empanelment of valuers for a period of three years. The initiative is expected to create fresh professional opportunities for qualified valuers while simultaneously strengthening transparency, professionalism, regulatory compliance, and technical standards in the banking valuation ecosystem.

The public notice, dated 15 May 2026, has been issued by the Credit Monitoring Department of the bank and lays down an elaborate framework governing the eligibility, conduct, qualification standards, empanelment process, operational responsibilities, and professional obligations of valuers.

The move is being viewed as one of the most structured and compliance-oriented empanelment exercises undertaken by a public sector bank in recent times.

Major Highlights of the Public Notice

According to the notification, UCO Bank has invited online applications from:

Individual valuers
Partnership firms
Companies engaged in valuation services

The empanelment shall remain valid for three years, subject to annual performance review.

Applications are to be submitted online along with scanned copies of:

Educational qualifications
Professional certifications
Experience proofs
Registration details
Supporting documents

The bank has specifically clarified that:

Valuers undertaking assignments under the SARFAESI Act, 2002 must possess registration under Section 34AB of the Wealth Tax Act.
Valuers handling valuation assignments under the Companies Act, 2013 must be registered with the Insolvency and Bankruptcy Board of India (IBBI).

This clearly indicates the increasing importance of statutory compliance and regulatory registration in the modern valuation profession.

The bank has further warned that any valuer found guilty of professional misconduct by institutions such as:

Indian Banks’ Association (IBA)
Reserve Bank of India (RBI)
Central Bureau of Investigation (CBI)
Any Government authority or agency

shall not be considered for empanelment.

Industry experts believe that this clause reflects the growing emphasis on integrity, accountability, and ethical conduct in the valuation sector.

Comprehensive Policy Framework Introduced

The accompanying “Guidelines for Process for Empanelment of Valuers” provides an extensive policy framework covering almost every operational and professional aspect connected with valuation assignments.

The document has been divided into multiple sections and annexures that define:

Eligibility criteria
Qualification standards
Experience requirements
Professional conduct
Valuation methodologies
Empanelment procedures
Obligations of the bank
Re-empanelment restrictions
Compliance requirements

The guidelines reveal that the bank intends to standardize valuation practices in line with modern banking risk management and international valuation standards.

Eligibility Criteria for Valuers Under Companies Act, 2013

One of the most important sections of the policy is the detailed eligibility criteria for valuers.

The guidelines state that a valuer must:

Be a member in good standing of recognized professional valuation bodies or Registered Valuer Organizations (RVOs)
Possess requisite educational qualifications
Fulfil prescribed experience criteria
Maintain professional competence and ethical conduct
Not be a minor, insolvent, or convicted of offences involving moral turpitude

The policy recognizes memberships from several professional organizations including:

Institute of Valuers (IOV)
Institution of Estate Managers and Appraisers (IESMA)
Practicing Valuers Association (India)
Institute of Chartered Accountants of India (ICAI)
Institute of Company Secretaries of India (ICSI)
Institute of Cost Accountants of India (ICMAI)
Association of Certified Valuers and Analysts (ACVA)
Council of Engineers and Valuers
Royal Institution of Chartered Surveyors (RICS)
American Society of Appraisers (ASA)
Appraisal Institute (AI), USA
Other recognized Registered Valuer Organizations under IBBI

The inclusion of both Indian and international professional institutions demonstrates the bank’s intention to maintain high professional standards and encourage globally aligned valuation practices.

Conditions Applicable to Partnership Firms and Companies

The policy also elaborates conditions applicable to partnership firms and companies seeking empanelment.

A partnership entity or company shall not be eligible if:

It has been established for objectives other than professional or financial services
It is undergoing insolvency proceedings
Its partners or directors are otherwise disqualified
Lead valuers do not possess required qualifications and experience

The bank has clearly emphasized that valuation assignments should only be undertaken by technically competent and professionally qualified individuals.

Mandatory IBBI Registration for Company-Related Valuations

The guidelines make it abundantly clear that for valuation of assets related to companies under the Companies Act, 2013, registration with the Insolvency and Bankruptcy Board of India (IBBI) is mandatory.

This is particularly important because valuation under the Companies Act has become increasingly specialized in matters involving:

Mergers and acquisitions
Corporate restructuring
Insolvency proceedings
Fair valuation exercises
Financial reporting
Share valuation

Experts believe that this requirement will further strengthen the role of Registered Valuers in the Indian financial system.

Qualification Standards for Real Estate Valuation

The guidelines prescribe detailed qualification and experience standards for valuation of land and buildings.

The bank has recognized multiple educational pathways including:

Bachelor’s degree in Civil Engineering
Architecture
Town Planning
Equivalent qualifications
Diploma holders with enhanced experience requirements
Postgraduate qualifications in valuation

Preference shall be given to applicants who:

Have completed recognized valuation courses
Possess professional certifications
Are retired Government or PSU officials with relevant technical experience

Standards for Plant and Machinery Valuation

Separate qualification standards have also been prescribed for plant and machinery valuers.

The bank recognizes qualifications in:

Mechanical Engineering
Electrical Engineering
Production Engineering
Industrial Engineering
Chemical Engineering
Mining Engineering
Electronics Engineering
Other relevant technical streams

The policy prescribes varying experience requirements depending upon:

Degree qualifications
Diploma qualifications
Specialized valuation certifications

The guidelines demonstrate the increasing technical sophistication expected from plant and machinery valuers.

Restriction on Diploma Holders

A noteworthy provision in the policy relates to diploma-qualified valuers.

According to the guidelines:

Diploma holders and valuers without graduation/postgraduation qualifications shall be eligible only for valuation assignments up to prescribed monetary limits.
Such valuers may conduct valuation for loans up to Rs.1 crore.
In housing loan cases, the permissible limit may extend up to Rs.2 crore.

This provision appears aimed at balancing opportunities for experienced diploma holders while ensuring risk-sensitive valuation assignments are handled by higher-qualified professionals.

Mandatory Assignment Experience

The bank has also prescribed operational experience standards.

Applicants are generally expected to have successfully completed at least five valuation assignments during the immediately preceding twelve months.

However, the Empanelment Committee has been empowered to relax this condition on a case-to-case basis.

This flexibility may benefit competent professionals entering the valuation field while ensuring adequate exposure to practical assignments.

Centralized Empanelment Mechanism at Head Office

One of the most important structural reforms highlighted in the policy is the centralized empanelment mechanism.

The bank has decided that:

Empanelment
Annual review
Performance assessment
Service quality evaluation
Removal or de-panelment

shall all be handled centrally at the Head Office level.

A high-level Empanelment Committee has been constituted comprising senior executives from:

Credit Monitoring
Credit Department
Recovery Department
Finance Department
Risk Management Department

The final authority for empanelment shall rest with the Managing Director & CEO.

Banking professionals believe that this centralized approach is likely to ensure:

Uniformity in standards
Better quality control
Stronger risk management
Reduction in regional inconsistencies
Enhanced accountability

Code of Conduct for Valuers

The guidelines place significant emphasis on ethical conduct.

All empanelled valuers are required to strictly adhere to a formal code of conduct prescribed under the policy.

The broad objectives include:

Maintaining independence
Avoiding conflicts of interest
Ensuring objectivity
Maintaining confidentiality
Following professional ethics
Exercising due diligence
Avoiding misleading valuation practices

This reflects the increasing recognition of valuation as a critical risk-management function within the banking system.

Adoption of International Valuation Standards (IVS)

Perhaps the most progressive feature of the guidelines is the mandatory requirement for compliance with International Valuation Standards (IVS).

The bank has specifically directed valuers to:

Follow internationally accepted valuation methodologies
Adopt proper valuation standards for different asset classes
Ensure technical consistency in reports
Maintain professional documentation standards

Annexures and Operational Procedures

The guidelines issued by UCO Bank contain several annexures and procedural frameworks aimed at ensuring uniformity, transparency, and technical accuracy in valuation assignments across the country. These annexures standardize the format of valuation reports, documentation requirements, inspection procedures, and professional declarations to be submitted by empanelled valuers.

The operational procedures emphasise that valuation reports must be comprehensive, evidence-based, and professionally drafted. Valuers are expected to include detailed site observations, ownership particulars, market analysis, property photographs, comparable market data, and supporting technical comments in every report.

The bank has also prescribed systematic reporting procedures for various categories of assets, including land and buildings, industrial properties, plant and machinery, and housing properties. Such standardisation is expected to significantly improve consistency in valuation practices and reduce ambiguity in lending decisions.

Industry experts believe that these operational reforms will strengthen the credibility of valuation reports and improve overall banking risk assessment mechanisms.

Due Diligence Requirements

A major focus of the guidelines is the importance of thorough due diligence during the valuation process. The bank has made it clear that valuers are expected to conduct detailed physical inspections and independently verify all relevant aspects of the property or asset being valued.

The due diligence process includes verification of:

Physical dimensions and measurements
Location and accessibility
Occupancy status
Marketability of the property
Neighbourhood characteristics
Infrastructure availability
Construction quality and condition
Encumbrances or visible legal concerns

For industrial and commercial assets, valuers are additionally expected to examine operational utility, future usability, environmental risks, and functional efficiency.

The guidelines strongly discourage superficial or purely document-based valuation practices. Instead, valuers are expected to exercise independent judgment and undertake genuine field verification before finalizing any valuation report.

This approach reflects the banking sector’s increasing emphasis on scientifically supported and legally defensible valuations.

Risk-Based Valuation Approach

One of the most important themes emerging from the guidelines is the transition toward a risk-based valuation approach. The bank recognizes that valuation is not merely a technical exercise but a critical component of financial risk management.

Incorrect or inflated valuations may directly impact:

Credit quality
Loan recovery prospects
Non-performing assets (NPAs)
Financial stability
Fraud prevention mechanisms

Accordingly, valuers are expected to assess not only the present market value of assets but also their liquidity, saleability, long-term sustainability, and recovery potential.

The guidelines indicate that banks increasingly rely upon valuation professionals for informed lending decisions and risk assessment. As a result, the role of valuers is evolving from traditional estimators to specialized financial risk professionals.

This development marks a significant transformation in the banking valuation ecosystem in India.

Accountability in Valuation Reporting

The policy framework places strong emphasis on accountability and professional responsibility in valuation reporting.

The guidelines state that valuation reports may be subject to:

Internal audits
Regulatory inspections
Vigilance scrutiny
Legal proceedings
Concurrent audits
Forensic examination

Therefore, valuers are expected to maintain proper working papers, inspection notes, comparable sale records, technical calculations, and photographic evidence supporting their conclusions.

The bank may also undertake annual performance reviews of empanelled valuers based on report quality, professional conduct, timeliness, and accuracy.

This increased accountability framework is expected to discourage negligent practices and promote greater professionalism in the valuation sector.

Industry observers believe that such reforms may significantly improve the reliability and transparency of collateral assessment within the Indian banking system.

Technology in Valuation Practice

Although the guidelines primarily focus on professional and regulatory standards, they also indirectly indicate the growing role of technology in valuation management and banking operations.

The online application process, centralized empanelment system, and structured reporting framework reflect the increasing digitization of valuation activities.

Experts believe that the future valuation ecosystem may increasingly involve:

GIS-based property mapping
Digital land records integration
AI-assisted market analytics
Drone-assisted inspections
Online valuation monitoring systems
Automated report verification tools
Digital documentation management

As banking institutions move toward technology-driven credit assessment systems, valuers will also be required to adapt to modern digital practices.

The current framework therefore represents an important transition toward technologically integrated valuation systems in India.

Opportunities for Young Professionals

The empanelment notification is expected to create significant professional opportunities for young and aspiring valuation professionals across India.

The guidelines recognize qualifications from multiple professional streams including:

Civil engineering
Architecture
Mechanical engineering
Chartered accountancy
Cost accountancy
Company secretaryship
Technical consultancy

Young engineers, architects, accountants, and financial professionals are now increasingly viewing valuation as a specialized and growing professional field.

The mandatory emphasis on IBBI registration, professional certifications, and valuation training is likely to encourage more individuals to pursue structured education and practical exposure in valuation practice.

Experts believe that the valuation sector may witness substantial expansion in coming years due to growing requirements in:

Banking finance
Insolvency resolution
Corporate restructuring
Real estate finance
Infrastructure funding
Financial reporting

This development may help create a more organized and professionally respected valuation ecosystem in India.

Ethical Independence of Valuers

The guidelines strongly emphasize ethical independence and professional integrity.

Valuers are expected to maintain complete objectivity and avoid any influence from borrowers, intermediaries, or interested parties.

The policy specifically discourages:

Inflated valuations
Suppression of adverse observations
Misrepresentation of facts
Conflict of interest situations
Unethical professional conduct

This emphasis on independence becomes particularly important because improper valuations have historically contributed to banking frauds, excessive financing, and financial losses.

The bank has clearly indicated that professional misconduct may result in removal from the panel and permanent disqualification from future empanelment.

The guidelines therefore reinforce the principle that valuation is a public-interest professional function requiring honesty, transparency, and impartial judgment.

Alignment with Indian Regulatory Reforms

The UCO Bank framework reflects broader regulatory reforms currently taking place within the Indian financial system.

Over the last decade, India has witnessed major structural changes through:

Insolvency and Bankruptcy Code (IBC)
Companies Act reforms
SARFAESI enforcement mechanisms
RBI supervision frameworks
Enhanced forensic scrutiny in lending operations
Increased due diligence requirements

The growing role of Registered Valuers under the Companies Act and IBBI framework demonstrates the increasing formalization of the valuation profession.

The bank’s policy aligns itself with this larger transformation toward stronger governance, transparency, accountability, and professional regulation.

Industry experts believe that such alignment will strengthen confidence in valuation practices and improve the quality of financial decision-making across institutions.

Need for Continuous Professional Education

The guidelines indirectly highlight the growing necessity for continuous professional education among valuers.

Modern valuation practice now requires professionals to remain updated regarding:

Changes in valuation standards
Banking regulations
Judicial pronouncements
Taxation laws
Insolvency regulations
Real estate market trends
International valuation methodologies
Technological advancements

Professional organizations and Registered Valuer Organizations (RVOs) are therefore expected to play an increasingly important role in training, capacity building, and skill development.

Experts believe that continuous learning and professional upgradation will become essential for long-term success in the valuation industry.

The profession is gradually shifting toward a knowledge-driven and specialization-oriented framework.

Likely Impact on Other Banks

Industry observers believe that the comprehensive framework introduced by UCO Bank may influence other public and private sector banks to strengthen their own valuation empanelment systems.

Many financial institutions are already moving toward:

Centralized empanelment systems
Risk-based valuation review mechanisms
Mandatory compliance verification
Standardized reporting formats
Stronger performance monitoring systems
Increased reliance on Registered Valuers

If similar frameworks are adopted across the banking sector, India may witness a major transformation in valuation governance and professional standards.

Such developments may ultimately lead to greater consistency, transparency, and professionalism within the financial valuation ecosystem.

Expert Opinions from the Valuation Sector

Senior professionals associated with the valuation industry have broadly welcomed the comprehensive nature of the guidelines.

According to industry experts, the policy successfully balances:

Professional opportunity creation
Banking risk management
Regulatory compliance
Technical quality standards
Ethical accountability

Experts particularly appreciate the emphasis on International Valuation Standards (IVS), centralized monitoring, and structured qualification requirements.

However, professionals have also emphasized the need for:

Fair professional fee structures
Timely payment mechanisms
Practical implementation support
Reduction in unnecessary procedural complexity
Greater coordination between banks and valuers

The valuation community believes that such reforms can significantly improve the professional recognition and institutional importance of valuers within the Indian financial system.

Final CTN PRESS Observations and Conclusion

The latest empanelment initiative issued by UCO Bank should not be viewed merely as a routine administrative notification. It represents a broader transformation in the Indian financial and valuation ecosystem.

The guidelines clearly indicate that valuation is increasingly being recognised as a specialised professional discipline directly connected with:

Banking stability
Credit discipline
Financial transparency
Investor confidence
Insolvency resolution
Economic governance

The framework emphasizes that the future valuation professional must be:

Technically competent
Professionally ethical
Legally compliant
Internationally aligned
Academically updated
Digitally adaptable

For thousands of valuers, engineers, architects, accountants, and technical professionals across India, this development marks the beginning of a new era of professional accountability, regulatory integration, and institutional opportunity.

CTN PRESS believes that if such reforms are effectively implemented across the banking sector, they may significantly strengthen the credibility, transparency, and global standing of the Indian valuation profession in the years ahead.

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