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The days of the iron curtain are now over, as our government takes new steps into the digital age of transparency, it ends up forming new entities that can record and dispense vital financial information.<br><br>Click here for more - https://bit.ly/cersai
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What is CERSAI and How Can It Help You? The days of the iron curtain are now over, as our government takes new steps into the digital age of transparency, it ends up forming new entities that can record and dispense vital financial information. One such entity would be CERSAI: The Central Registry of Securitisation Asset Reconstruction and Security Interest of India. CERSAI’s predecessor was originally created under the SARFAESI Act out of the need for our country to maintain important records. Modern Records of an Asset Reconstruction Company Today, the database has expanded greatly in size and function. What was once a simple recordkeeping process, became a comprehensive registry of the states of all assets regardless of state. Any asset, whether its immovable, movable, or intangible will be recorded with the utmost detail. Even the hypothecation status of any asset will be recorded for easy viewing and reference. CERSAI also has records of assets that have been sold to an asset reconstruction company. Securitization in India often involves the practice of pooling together debts and selling them to a third party (often an asset reconstruction company or ARC). This type of securitization in financial services helps banks clear up their balance sheets and thus is a common occurrence that needs to be recorded. How You Can Use CERSAI? Members of the public will be able to access and search the database in different ways, based on their parameters (asset or debt). However, it is important to note that the CERSAI requires a fee that must be paid before its use. However, should one be willing to pay the fee in its entirety, they will find that they are able to freely navigate the list of assets or debts as long as they know certain key specifics. In addition to financial information, CERSAI also keeps a record of all KYC files. There is also a provision that allows for the submission of court documents or attachment orders in order to properly represent the status of the asset in question.
