Module: General Practice
Q102: Under the CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest) framework, which of the following statements regarding registration charges and purpose is INCORRECT?
✅ Correct Answer: C
Option C is the incorrect statement.
The standard CERSAI registration fee prescribed by the Central Government is Rupees 100 plus GST for loans above Rupees 5 lakh, and Rupees 50 plus GST for loans up to Rupees 5 lakh.
It is not Rupees 500.
CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) was set up to check mortgage frauds, specifically instances where the same property is mortgaged to multiple lenders.
It is a government company licensed under Section 8 of the Companies Act, 2013, with majority shareholding by the Central Government, Public Sector Banks, and NHB.
Registration of security interest (mortgage) with CERSAI is mandatory for banks within 30 days of creation.
The standard CERSAI registration fee prescribed by the Central Government is Rupees 100 plus GST for loans above Rupees 5 lakh, and Rupees 50 plus GST for loans up to Rupees 5 lakh.
It is not Rupees 500.
CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) was set up to check mortgage frauds, specifically instances where the same property is mortgaged to multiple lenders.
It is a government company licensed under Section 8 of the Companies Act, 2013, with majority shareholding by the Central Government, Public Sector Banks, and NHB.
Registration of security interest (mortgage) with CERSAI is mandatory for banks within 30 days of creation.