CERSAI Portal:- CERSAI was developed by the Government to prevent fraud where property is used as security for loans. In 2002, Section 20 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests by the Central Registry of Securitization Assets and Reconstruction Security Interests of India (CERSAI) (SARFAESI Act) Sec of the Companies Act, 1956 authorizes it.
Read below for detailed information about CERSAI Portal such as points, objectives, ownership of CERSAI , features of CERSAI, entry procedures, institutional registration, registration fees, benefits, and more
CERSAI Portal 2023
CERSAI Portal was developed to combat mortgage fraud. Fraudsters often took multiple loans from banks on the same property.
Such cases are monitored through CERSA records. Under the Companies Act of 2013, Sersai was incorporated as a public company. New Delhi is the home base of CERSAI.
The central government, public sector banks (PSBs) and the National Housing Bank collectively make up the majority of CERSAI (NHB).
Protection of Financial Assets and Reconstitution of Security Interests in 2002 by SERSAI Registration under the Implementing Rules (SARFAESI Rules).
Banks had a very difficult time learning about asset loads before CERSAI. Since only the owner of the property knew whether the property was mortgaged or not, making it very difficult to ascertain that even the actual buyers were unaware of the costs and payments associated with the property when CERSAI (Cersai) . does not exist the Enter).
That created legal challenges and problems for those who bought such homes. Public organizations and financial institutions can use the CERSAI portal. However, the general public can only see information about fair rents.
cersai.org.in Portal Details in Highlights
| Name | CERSAI |
| Full Name | Central Registry of Securitization Asset Reconstruction and Security Interest of India |
| Established by | Government of India |
| Objective | To stop fraud involving mortgages |
| Official Website | https://www.cersai.org.in/CERSAI/home.prg |
Objective of Portal
- The main function of CERSAI is to act as a registration system. Its function is to maintain and maintain the KYC Registry governed by the PML Act of 2005. (Maintenance of Records) .
- More than 350 million KYC records are stored in the Central KYC Record Register.
- The online security benefits listing for India contains all credit information, making it easy for borrowers and lenders to access relevant information.
- Banks are required to declare all interest incurred on any account to government. CERSAI is the place to send that data.
- The technology monitors relevant mortgage fraud activity to clarify the data.
- Supplementary court orders and orders can be found on the forum of the encumbered or attached property.
CERSAI Ownership
Though the company is currently majority-owned by the central government, by March 2021, Cersai said that since all central registration activities involved banking activities, the Reserve Bank of India (RBI) could have a government owns 51% of the company . Together, National Housing Bank, state lender State Bank of India, Punjab National Bank and Baroda Bank hold the remaining 49% of Sersai
Features of CERSAI Portal
- Banks, housing finance companies (HFCs) and non-bank financial institutions participate in every aspect of CERSAI’s operations (NBFCs).
- Lenders can, among other things, claim a security interest in the movable, immovable and intangible assets of the central register.
- The data on all-India assets placed with banks is what the CERSAI portal does
- Sersai also manages and maintains the Central KYC Records Registry (CKYCRR) in 2016 to serve reporting agencies like RBI, SEBI, IRDAI and PFRDA
Steps to Login on the CERSAI Portal
- First of all, visit the official website of CERSAI
- The homepage of the web browser opens on the screen
- Steps to access the CERSAI portal
- Click the Login button
- The login window is displayed on the screen
- Then, enter the login id, password, and captcha code
- Finally, click on the Login button to gain access to your registered account
Steps for Entity Registration
- First of all, visit the official website of CERSAI ie. https://www.cersai.org.in/CERSAI/home.prg
- The homepage of the web browser opens on the screen
- Click the Entity Registration tab and then click Entity Registration
- A new page will open on the screen
- Steps for registration of the Institute on CERSAI Portal
- Then, select the Mode of Entity Registration i.e., .
- CKYC
- Digital signatures
- Then, write down all the required information
- Finally, enter the captcha code and click the Submit button
Registration Fees
| Transaction Nature | Fee payable (Excl. Tax) |
| Creation or modification of Security Interest in favor of secured creditors / Other Creditors | 100 rupees for a loan above 5 lakh rupees and 50 rupees for a loan upto 5 lakh rupees |
| Satisfaction of securitization or reconstruction of financial assets | 50 rupees |
| Satisfaction of any existing Security Interest | NIL |
| Securitization or reconstruction of financial assets | 500 rupees |
| Assignment of Receivables | 10 rupees for the assignment of receivables of less than 5 lakh rupees and 100 rupees for the assignment of receivables of 5 lakh rupees and above. |
| Search for a piece of information in CERSAI | 10 rupees |
| Condonation of delay up to 30 days for Assignment of Receivables | Ten times the basic fee, as applicable. |
| Satisfaction of registration on the realization of the receivables | NIL |
Benefits of Portal for Homebuyers
Prohibited options for verification of real estate agents before the Real Estate (Regulation and Development) Act, 2016 not be used as loan security due to the CERSAI platform. Not only do homebuyers save money, they also avoid tedious legal problems in the future.
CERSAI Database Updating and Maintenance
The CERSA database is updated with the help of Indian banks and other financial institutions. The CERSAI database must be updated with new information each time a loan is processed and disbursed.
The changes to the database are referred to as Registration of Charges. The purpose of the reporting registry is to provide open data on burdens on assets.
Banks are required by law to report loan disbursements within 30 days of closing. The Reserve Bank of India (RBI) will impose financial penalties on banking institutions if they do not update the CERSAI database
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FaQ CERSAI
What is the time limit for Cersai?
within 30 days of the realization of the security interest.
What is Cersai details?
Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI)
What is Features of CERSAI Portal?
Banks, housing finance companies (HFCs) and non-bank financial institutions participate in every aspect of CERSAI’s operations (NBFCs).
Lenders can, among other things, claim a security interest in the movable, immovable and intangible assets of the central register.
Which loans are covered under Cersai?
mortgages or loans of goods or properties
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