All About Cersai
CERSAI Full Form is Central Registry of Securitisation Asset Reconstruction and Security Interest of India. CERSAI has been established as a company under section 8 of the Companies Act, 2013 by the Government of India.
CERSAI was formed to identify and check fraudulent activity in lending transactions against equitable mortgages. In other words, the CRESAI was established to discourage and prevent the practice of taking out various loans from several banks using the same asset or property.
How to Login Cersai With https://cersai.org.in/cersai/home.prg in one click in seconds without any hassle. Get help with login, sign up and forget password, its features, pricing, description, reviews and more.
Here you learn way to Login with the Cersai Website, if you are having trouble Login in with Cersai, Learn the complete information in this article.
Follow these easy steps:
What is Cersai in banking?
The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) is set up under section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
What is CKYC or Central KYC?
It is a single and centralized KYC process for all your financial transactions. In the old format of KYC, PAN was the sole identifier for an investor. However, in new Central KYC Registry system, the list goes beyond Aadhaar and PAN. It removes the submission of KYC at different level or to different financial institutions of your financial transactions.
It is also the single form to create new KYC or modify the existing KYC. Three types of accounts are specified. One is Normal, second is Simplified or for low-risk customers and third is Small investors. You have to select which is applicable to you.
If your aggregate of all credits in a financial year does not exceed rupees one lakh, the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand or the balance at any point of time does not exceed rupees fifty thousand, then you will be considered as SMALL account type of investor.
The simplified or low-risk customers means customers who are not able to submit anyone among 6 documents listed. They are Passport, driving license, PAN card, Voter ID, job card issued by NREGA or Aadhaar Card.
This CKYC or Central KYC also includes the FATCA declaration. Hence, it avoids you declare the same at the different level of your investments.
Please also find useful links in other sources.
- IOFS Full Form – Indian Ordnance Factories Service
- ICLS Full Form – Indian Corporate Law Service
- ISDN Full Form – Integrated Services Digital Network
Hope you liked this article, and it helped you a lot, if you are facing any issue related to this Cersai website then feel free to leave a comment I would love to help everyone, Thanks!