Page 48 - Banking Finance July 2021

ARTICLE

CERSAI 2.0:

A WAY

FORWARD

G overnment of India established the Central accessing the various functionalities available on the portal

Registry of Securitisation Asset Reconstruction
and registering details of security interest , entities must be
registered. As per chapter IV-A of SARFAESI Act entities
and Security Interest of India(CERSAI) to operate
and maintain Central Registry functions as per
secured creditors, other creditors , Revenue Authorities.
SARFAESI Act 2002.CERSAI provides platform to are classified in to three main categories namely
All scheduled Commercial Banks(including RRBs) , Small There is well defined procedures for their registration on the
Finance Banks, Local Area Banks, all Co-operative Banks, all portal.
NBFCs and All India Financial Institutions , for filing
registrations including modification and satisfaction of Access and functioning in CERSAI 2.0
transactions of securitizations, asset reconstruction and Y Made simple and flexible.
security interest.
Y Access to CERSAI 2.0 application requires a valid Digital
An upgraded version of security interest portal that is CERSAI Signature(DS)
2.0 had been released on 3rd August, 2020 and had Y Any existing User with valid DS of any class are able to
introduced some significant changes. The Entity Registration access CERSAI 2.0
functionality is accessible on the CERSAI 2.0 portal. For
Y For activity on CERSAI portal , Existing users after expiry
of their current DS including New Users registered in
About the author CERSAI 2.0 should have class III DS

Ravi Mishra Y For logging in CERSAI 2.0 first time , Users can use
Chief Manager Faculty default password. The default password is combination
Union Bank of India of the last four digits of their CERSAI user id and their
Staff Training Centre Gurugram date of birth (DDMMYY)

48 | 2021 | JULY | BANKING FINANCE