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CERSAI is an electronic registry of encumbrances, available 24 x 7 provides a platform for registration of mortgages created on immovable property by way of equitable mortgage.CERSAI was established on the recommendations of a Committee of Bankers under the aegis of Indian Banks’ Association to help Banks in averting frauds by way of multiple financing against the same property and has been operation from the 31stMarch, 2011.As on31.08.2015Total number of Banks/ FIs registering their records on CERSAI :533Total number of registrations done :1,38,00,697Total number of Users :1,85,904
Top 10 Banks/HFCs in terms of Registration
As on 31stAugust,2015
State Wise Registration(As on 31stAugust, 2015)
Top Ten Banks/ HFCs in Terms of Registration inGoa(As on28thSept,2015)Total No of Banks/ FIs registering mortgages on CERSAI –112
Delayed Filing of Records –August,2015-Total Banks/ FIs which filed charges inAugust: 43- Out of the above,33Banks/ FIs filed all their charges within the stipulated time-LIC Housing Finance Ltd (48), HDFC Ltd (38) Bank of India (36), Union Bank of India 22, The Goa Urban Cooperative Bank Ltd (21) , Central Bank of India (18), Oriental Bank of Commerce (17) and Bank of Maharashtra (15)are major Banks which filed all the records on time.
The DelayedFiling was mainly from:
Ensure registration at CERSAI within 30 days of creation of charge.It would be in the interest of all stakeholders if registration is done as soon as mortgage is created. This will obviate possibility of any fraud.In case ofcondonationof delay beyond 60 days by Central Government ensure submission to CERSAI within the period stipulated.In case your bank is lead Bank in a consortium, add the names of other members of consortium to enable them to file their charge.
What is Required to be done by Lenders

Ensure to satisfy your charge on the property as soon as your loan is liquidated.In case of take over of finance by another bank, ensure handing over of title deeds to other bank promptly.All corrections in the records require approval from Central Government.It is, therefore, important for the checker to ensure that there is no mistake in the data filled.Data purity, is a MUSTAll fields, even if not mandatory, should be filled.There are large number of mistakes in the records filed in the initial year of operation of CERSAI. Please recheck these records and ensure correction/ rectification of mistakes.
The Central KYC Registry
CERSAI have been given the mandate by the Govt. of India to establish and operate a Central KYC Registry for the entire financial sector. In due course this registry may cater to the KYC requirements of other sectors like telecom also.Banks and other institutions will scan and upload their KYC documents on the KYC Registry Portal.Registrywill generate a unique KYC number for the customer.Customercan quote this number and will not be required to submit his KYC documents again at the time of opening another account with any Banks/ mutual fund/ insurance company or capital market intermediary/ mutual fund etc.
Even otherwise institutions will be required to make a search in the database of KYC Registry before asking the customer for KYC documents.A facility of verification of KYC documents is also proposed in the second phase of the KYC Registry by creating links with Income Tax Department (PAN No verification), UID, Passport Office, RTO offices etc.
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