The Reserve Bank of India (RBI) on Thursday said banks must dispose of immovable assets acquired against bad loans within seven years through a public auction conducted in accordance with the principles laid down under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act. It also barred banks from selling such assets back to the borrower or related parties, as defined under the Insolvency and Bankruptcy Code, 2016.