Know about CERSAI

Last updated: 09 January 2021

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This document explains CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India), a government initiative to prevent fraudulent lending activities, particularly concerning equitable mortgages. It details how CERSAI registration prevents individuals from taking multiple loans against the same property and how it benefits both buyers and financial institutions by providing transparency on asset liabilities. The guide also outlines the CERSAI registration process and its accessibility for lenders and buyers.

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CERSAI was established by the Ministry of Finance, GOI in Marâ€™2011 under SARFAESI Act to provide a centralized digital platform for lenders to file details of properties encumbered to them against loans provided to borrowers. The information helps lenders to take informed credit decisions and reduces instances of double financing against the same property. CERSAIâ€™s database today has close to 40 million transactions in its repository. CERSAI has now extended its scope to include filing of attachment orders against properties by Revenue Authorities. All types of lenders, including individuals, can file information relating to properties encumbered to them on CERSAI Platform. #docx

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Submitted by renuka agarwal · Posted 09 January 2021 · Other files by renuka agarwal · Report

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