Question
CERSAI was established to prevent fraudulent lending
transactions against equitable mortgages. What does the ‘S’ in CERSAI stand for?Solution
CERSAI stands for Central Registry of Securitisation Asset Reconstruction and Security Interest of India. • It was set up by the Government of India as a Section 8 company under the Companies Act, 2013. • The registry was created to curb frauds in lending, particularly where borrowers attempt to take multiple loans from different banks using the same property as collateral. • By recording details of security interests created by lenders, CERSAI ensures transparency and acts as a deterrent against fraudulent mortgage practices. Thus, the ‘S’ in CERSAI = Securitisation.
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