CERSAI Portal 2024 was created in the year 2011 in order to help people to be safe from money laundering and other illegal activities. The full form of the portal is Central Registry of Securitisation Asset Reconstruction and Security Interest. The portal provides an entire database of the security interest that has been created over various assets including land, buildings, and other immovable properties. The main purpose of the portal was to prevent any fraudulent practices that are available in the industry. Sometimes people give loans on a particular asset but then they get to know that the asset is already sold to somebody else so this becomes a very particular problem. The practice of CERSAI portal will help prevent fraud because it will provide an entire database of the mortgage-related to a particular property to banks or any other Financial institute.
Purpose of the CERSAI Portal
The CERSAI Portal will provide a proper database to the residents of India so that they can check out the interest that has been created over various assets. The people will be able to check out the major information about the loans that have been given over a particular land or even building. The people will be able to get proper information about the landing information of all security interests that have been created over a current asset. The portal will provide information about the financial institution so that they can carry on with their decision of providing alone to the particular person.
- The purpose of the portal is to create a safe space for Financial Institutions and banks so that they can give loans to the people without having to think twice about the reliability of an asset. The public can use this portal in order to view information about a mortgage over a property.
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Features of the CERSAI Portal
Check out the major features of the platform from the pointers given below:-
- CERSAI is primarily a registration system that maintains a KYC registry, as mandated by the PML Regulations of 2005.
- The Central KYC Record Registry contains over 35 crore KYC records.
- The platform provides an online security interest register that contains all data on loans, making it easier for borrowers and lenders to access relevant information.
- Banks are required to inform the government of all interest generated on securities, which can be submitted through the CERSAI platform.
- CERSAI helps to monitor fraudulent activity related to equitable mortgages by ensuring data transparency.
- The platform also provides court and attachment orders for encumbered or attached properties.
Benefits of using the CERSAI Portal
CERSAI Portal will not only benefit the public but it will definitely benefit financial institutes and banks. The people will be able to get major information about a particular building by entering the details into the portal. If you are a common man then you will be able to monitor the information about equitable mortgage over security by using this portal. If you are a Financial institute or Bank then you will be able to get information about the security interest that has been landed on a particular property.
- You can get particular information about the property that is available.
- The main benefit of this portal is to prevent any fraudulent practices that are currently going on in the construction industry so that the procedure of getting a loan from a banking organization can be easy for someone who is innocent.
- For people who are undertaking fraud, this portal is created in order to recognize them.
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How does CERSAI Portal help To Protect Transactions From Fraud And Other Risks?
- CERSAI Portal helps with fraud and other such practices.
- The official portal will improve efficacy and transparency for the loan industry.
- The portal will get information about a particular building and The Financial institute will be able to access accurate information online.
- The portal will reduce paper work because all of the things will be available online.
- There will be less risk and the loan procedure will be very easy.
- The people will be able to enjoy transparency through the official portal and it will definitely reduce the risk of fraud.
- The portal will enhance the trust and confidence of a customer because the procedure will be very transparent and reliable.
- There will be stronger trust between the borrower and the lenders because both of them have access to the same information.
- There will be development of a better mortgage industry.
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Registration Process
There is a very easy procedure that you can follow in order to register at the official portal. Check out the simple procedure given below and prepare accordingly:
- You will first have to visit the official website of the portal by clicking on the link given here
- The home page will open on your screen
- You have to click on the option called entity registration and a drop-down menu will open on your screen.
- Now you have to again click on the option called Entity Registration and a new page will open on your screen.
- You have to select the details related to your entity and you can successfully register yourself by entering information.
- Enter the verification code and click on the submit button to submit the registration form.
Login Instructions
If you want to log in to the official website, you will have to follow the login procedure. Check out the simple procedure:-
- You will first have to visit the official website of the portal by clicking on the link given here
- The home page will open on your screen
- You have to click on the login button and a new page will open on your screen.
- Enter your login ID and password.
- Enter the verification code and click on login to log in successfully.
How to Search for Transactions?
To ensure that a property has not been mortgaged against a loan in multiple banks, a potential buyer can perform a CERSAI Search to obtain details about the property. This can be done by logging in to the CERSAI Portal and clicking on the ‘Public Search’ tab on the home page. To perform an asset-based search on the CERSAI portal, the user can follow these steps:
- CERSAI Search can perform in three ways:
- Go to the official website of CERSAI.
- On the homepage, click on the Public Search Button.
- From the drop-down list, choose Asset-based search or Debtor Based Research or AOR Based Research
- On the newly opened window, select the asset category from the drop-down list, which includes Immovable, Movable, and Intangible.
- When the Immovable category has selected, a series of options will display.
- Fill in the required details such as
- survey number
- plot number
- house/flat number
- building/tower name or number
- project/scheme/society name, street name, or number
- locality/sector, state, district, city/town/village, and pin code.
- Enter the Captcha code.
- Click on the Submit button.
How to monitor and manage transactions?
To monitor and manage transactions, you have to follow this procedure:-
- Use the CERSAI Portal to check if a property has mortgaged against a loan in multiple banks.
- Obtain a credit report from a credit bureau to assess the creditworthiness of the borrower.
- Verify the identity of the borrower through the KYC process on the CERSAI Portal.
- Use the SARFAESI Act to recover bad loans by auctioning off assets that have been mortgaged against the loan.
- Regularly update the security interest register on the CERSAI Portal to reflect any changes in the security interest status of a property.
- Take action against any fraudulent activity by reporting it to the appropriate authorities and updating the security interest register on the CERSAI Portal.
- Use technology such as blockchain to improve transparency and security in transactions.
- Train yourself to identify and prevent fraudulent activity in transactions.
Fees and Charges
The candidates will have to follow the following registration charges in order to successfully apply for the different procedures on the portal:
| Transaction Nature | Fee payable (Excl. Tax) |
| Creation or modification of Security Interest in favour 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 |
Contact Details
- 8448331851, 8595542303
- 8448535339
CERSAI Portal FAQs
CERSAI stands for Central Registry of Securitisation Asset Reconstruction and Security Interest of India. It is a government-owned corporation established to maintain a centralized database of a security interest in assets, securitization, asset reconstruction, and other related transactions.
The CERSAI portal is designed to provide transparency and improve efficiency in the financial system by providing information on loans, mortgages, and other encumbrances on assets. It helps to prevent fraud and money laundering by making it easier to track assets used as collateral for multiple loans.
The CERSAI portal is open to both financial institutions and the general public. Financial institutions can access the portal to perform due diligence on loan applications and track their outstanding loans. The general public can access the portal to perform asset-based research, debtor-based research, and AOR-based research.
To perform a CERSAI search, users can log in to the CERSAI portal and click on the ‘Public Search’ tab on the home page.
Yes, there is a fee for using the CERSAI portal. Financial institutions are required to pay a registration fee and an annual maintenance fee to access the portal, while the general public is required to pay a nominal fee for performing a CERSAI search.