What is the role of CERSAI portal?

Question

Accepted Answer

CERSAI portal is a centralized platform for registering and maintaining security interests created by lenders on movable assets.

CERSAI stands for Central Registry of Securitization Asset Reconstruction and Security Interest of India.
It helps in creating a central registry of security interests on movable assets to prevent fraud and improve transparency in lending.
Lenders are required to register their security interests on the portal to establish priority rights in case of default by the borrower.
The portal also facilitates easy verification of security interests by other lenders and potential buyers of the assets.
CERSAI portal plays a crucial role in the credit industry by reducing risks associated with lending against movable assets.

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