CERSAI
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Banking Regulations and Business Laws — CAIIB.
One-liners from this chapter
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What does CERSAI stand for?
CERSAI stands for Central Registry of Securitisation Asset Reconstruction and Security Interest of India.
What is the full form of SARFAESI Act under which CERSAI operates?
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act
Under which Act was CERSAI established?
CERSAI was established under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
In which year was the SARFAESI Act enacted?
2002
When was CERSAI incorporated?
CERSAI was incorporated on 5th March 2011 as a government company under Section 8 of the Companies Act.
What is the minimum government shareholding required in CERSAI?
51 percent government shareholding is mandated
What is the primary purpose of CERSAI?
The primary purpose of CERSAI is to maintain and operate a central registry of mortgages and security interests created on property for loans, to prevent fraudulent multiple financing against the same property.
Which ministry oversees CERSAI in India?
Ministry of Finance oversees CERSAI
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