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Indian Banking:Fraud and Burglary :

Central Registry CERSAI setup by RBI under SARFAESI Act to prevent Property Fraud

By: Ranjan, Place: New Delhi,  Update:26 May 2011

Central Registry CERSAI setup by RBI under SARFAESI Act to prevent Property Fraud

Central Registry, a long awaited financial sector demand fulfilled with RBI notification and govt gazette notification in pursuant to the announcement made by the Finance Minister in the budget speech for 2011-12, Government of India, Ministry of Finance.

The Reserve Bank of India (RBI) in a notification on 19 May 2011 announced the operationalisation of a central registry that will have details of all properties against which loans have been taken.

With existence of central registry, it would be virtually impossible for a borrower to raise loans twice against the same property or raise loans using forged documents.

In the past, there have been instances where borrowers have forged the title deed and borrowed money from multiple banks by giving duplicate documents (title deed) as security for home loan. As a result, when the borrower defaults on the loan, many banks would make claim for the same house.

Towards this end-The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI)-a government company licensed under the Companies Act.1956, has been incorporated to operate and maintain the Central Registry under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

Initially transactions relating to securitisation and reconstruction of financial assets and those relating to mortgage by deposit of title deeds to secure any loan or advances granted by banks and financial institutions, as defined under the SARFAESI Act, are to be registered in the Central Registry. The records maintained by the Central Registry will be available for search by any lender or any other person desirous of dealing with the property.

RBI said that the records maintained by the Central Registry will be available for search by any lender or any other person desirous of dealing with the property. Availability of such records would prevent frauds involving multiple lending against the security of same property.

Availability of such records would prevent frauds involving multiple lending against the security of same property as well as fraudulent sale of property without disclosing the security interest over such property, the RBI said in a statement.

RV Verma, chairman and managing director, National Housing Bank, has been given additional charge as the registrar of the Central Registry for three months, and he will also be the managing director and CEO of CERSAI.

As per Govt notification Central Registry established at Indian Banks’ Association, Delhi Local Chapter Address : Central Registry of Securitisation Asset Reconstruction and Security Interest of India, 5 th Floor, MTNL Telephone Exchange Building,8, Bhikaji Cama Place, New Delhi – 110066, Telephone Number: 011-26176847, 011-26176855, 011-26176856, Website: www.cersai.org.in

 
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5 Recent Comments
Shailashree    17 December 2013
Sir I want the details of SBI transactions registered with CERSAI.
 
george koshy    24 November 2012
i am manager of punjab national bank kozhencherry.I want to register charge and i have password and used id .but i am not able to find the site for login.Please help.
 
biswanath sahoo    20 October 2012
sir kidly open the user id in your sites
 
nirmal singh    16 October 2012
Sir, I am an auditor of the bank how can I get password. am I entitle for checking of registeration of charge.
 
ATMARAM KAMABLE    29 September 2012
HOW TO RESET E-TOKEN PASSWORD
 
 
27 More Comments
 
  Shailashree : 17 December 2013 :
Sir I want the details of SBI transactions registered with CERSAI.
  george koshy : 24 November 2012 :
i am manager of punjab national bank kozhencherry.I want to register charge and i have password and used id .but i am not able to find the site for login.Please help.
  biswanath sahoo : 20 October 2012 :
sir kidly open the user id in your sites
  nirmal singh : 16 October 2012 :
Sir, I am an auditor of the bank how can I get password. am I entitle for checking of registeration of charge.
  ATMARAM KAMABLE : 29 September 2012 :
HOW TO RESET E-TOKEN PASSWORD
  syndicatebank Regional office Bhopal : 21 September 2012 :
Most of our branches facing problem to download e-token/digital certificate , pl guide us
  MRINAL KANTI DHAR : 28 July 2012 :
please let me know the procedure for getting registration
  MRINAL KANTI DHAR : 28 July 2012 :
please let me know the procedure for getting registration
  Bikramjit Roy chowdhury : 18 June 2012 :
Please make CERSAI portal more user friendly.We have to wait for hours for getting deeds registered.
  mahmood akhtar : 31 March 2012 :
what is the procedure for fee payment and registration after 31. 3.2012. I already have user id. whether it work now
  K Selvaraj : 29 March 2012 :
Dear Sir, I am working as a field officer in SBH, most of the time the website is not able to access. Please help
  RAKESH RANJAN : 25 March 2012 :
I am a bank manager.I want to know procedure to getting registration & password with ceresai.
  Krishan Kumar Sharma : 22 March 2012 :
How can i register charge personally through which site i have to go
  Dilee : 22 January 2012 :
What is the website of the Central Registry where u can see the details electronically?
  niranjan kumar : 29 December 2011 :
Sir/Madam, I am working as a field officer at one of the SBI branch, I want to know the procedure for registration
  Lalit Patil : 30 November 2011 :
I am working in The Jalgaon Peoples Co-op Bank Ltd, Jalgaon, I have not yet received user id & password for registration of mortgages
  PRADEEP KUMAR MISHRA : 15 October 2011 :
I am an advocate and on the panel of various banks. I also wants to verify the property before giving any Title Report in the banks. I came to know that after paying the fee I can inspect the same. How it is possible for me ?
  Vikram Singh Chaudhary : 08 October 2011 :
I am an advocate and on the panel of various banks. I also wants to verify the property before giving any Title Report in the banks. I came to know that after paying the fee I can inspect the same. How it is possible for me ?
  kishanrao sidulwar : 01 August 2011 :
I am working as branch manager in SBH at madnoor in Andhra Pradesh, I have not got any ID and PW to login for cersai site to register the mortgages created againstr the loans
  bank of india : 27 July 2011 :
userID and Passwod for registration of mortgage
  S Manivannan : 14 July 2011 :
can an individual lender can register under CERSAI and is it mandatory for such individual also to register
  suman mishra : 13 July 2011 :
Sir, I hope,this CERSAI would prove a milestone for the bankers who especially work in credit dept.
  sanjib dawn : 05 July 2011 :
please let me know the formalities needs to be fulfilled to get registration in the central registry.
  ravinder kumar kalra : 23 June 2011 :
Sir I am working in Syndicate Bank , CD Block Pitam Pura , Delhi Br. I had applied for password for Central Registry through our Bank . On enquiring from our corporate Office , I have come to know that ID A001701890 has been allotted. So far , I have not received any mail regarding my Password.Please look into the matter. Ravinder Kumar Kalra Manager, Syndicate Bank, CD Block ,Pitam Pura , Delhi 110088
  B.K.Mishra : 18 June 2011 :
Dear Sir, I am practising advocate, I want to know about procedure to get registration of my name with CERSAI. Please suggest me, what is the way to get registration of my name. with regard B.K.Mishra
  vishal setia advocate : 13 June 2011 :
i want to register with cersai. pls help me. contact no.09855455956
  J B PARMAR : 31 May 2011 :
Sir, I am unable to log in with my user ID A001500799 with the PW provided to me. It gives message that user id or PW is injvalid.Pl check up. Regards J B Parmar 09909921115
 
 
 
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