What does CERSAI stand for?
Q. What is the full form of CERSAI?- Published on 17 Feb 17a. Combined Registry of Securitization Asset Reconstruction and Security Interest
b. Combined Registry of Securitization Agency Reconstruction and Security Interest
c. Central Registry of Securitization Asset Reconstruction and Security Interest
d. Central Registry of Securitization Agency Reconstruction and Security Interest
ANSWER: Central Registry of Securitization Asset Reconstruction and Security Interest
Central Registry of Securitization Asset Reconstruction and Security Interest (CERSAI) is a central online security interest registry of India.
It was primarily created to check frauds in lending against equitable mortgages, in which people would take multiple loans on the same asset from different banks.
The company incorporated with majority shareholding of the Central Government, Public Sector Banks and National Housing Bank for the purpose of operating a Registration System under the provisions of Chapter IV of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (SARFAESI Act).
CERSAI - Central Registry of Securitization Asset Reconstruction and Security Interest
Founded : 11 March, 2011
Headquarter : New Delhi, India
Current Head : Praveen Kumar Sharma (Central Registrar) (CR, MD & CEO)
