Page 49 - Banking Finance July 2021

ARTICLE

Y No maker checker concept in CERSAI 2.0. Any Y No need to have a CERSAI User ID/Password
authorized user will be able to perform end to end Y No need to have a valid Digital Signature.
transaction.
Y Most of the data validations applied for correct details
Y Single user, Multiple roles- More than one roles may be
to be recorded.
assigned to one user
Y One file to have one Record but many files can be
Y Flexibility in Assignment of Roles: It is possible to add/ prepared simultaneously for different records.
remove role to an existing user id.
Y Entities can prepare files programmatically also by
extracting data from core banking solution(CBS)
New Features in CERSAI 2.0
Y Details of the offline file prepared will be uploaded in
Short Messaging Service(SMS): CERSAI by an authorized User of the entity using valid
Y Notifications for the relevant transactions are sent CERSAI ID/Password and a valid digital signature.
through email as was previously . Apart from the email
notifications, now SMS are also sent to the concerned Other New Features :
users of the Entities and CERSAI on their registered 1. Save as Draft Option are now available for the following
mobile number . This has been made mandatory in core business transactions:
CERSAI 2.0 X Registration of Security Interest and Attachment

Y Previously as notifications are sent through emails only Order
but sometimes they were undelivered or delivered with X Registration of Asset Reconstruction and
delay due to non-availability of internet or were not securitization transactions
seen by the users being away from the system ,
especially on holidays/weekly offs or being on leave, but X Registration of Assignment of Receivables
now SMS will be delivered and seen immediately, thus 2. User can resume the same transaction under My
speeding up the notification and decision making Worklist In User drafted transactions from the Home
process. page itself after successful login
3. Drafts will be kept in the system for 24 hours only, and
Offline Functionality: limit of the drafts for user are presently capped at 10

Y New features added 4. Those who are Maker users in CERSAI 1.0 can directly
Y Presently available for Add security Interest and log into CERSAI 2.0 without Digital Signature and can
Attachment Order Transactions have access to search and Report Modules only namely
Asset based search, Debtor based search, AOR search,
Y Details of the transactions are now recorded in an excel
file downloaded from CERSAI Portal Online Reports, MIS Reports and Batch Reports
5. Exact ID based search is available in CERSAI 2.0 on the
Y Any employee of the entity can perform this activity.
basis of the following parameters namely security
interest ID, Transaction ID, Assignment of
Receivables(AOR) ID.
6. There is no loan details available in CERSAI 2.0. Users
can put the loan number under security interest details
tab in entity identification number field. If there is a
change in Total Secured Amount, then User can change
the Total Secured Amount in SI Modification else there
is no change required in the details
7. In case of multiple loans under the same asset, user can
select the existing asset and can create another security
interest id and can mention the 2nd loan account
number along with the first loan account number,

BANKING FINANCE | JULY | 2021 | 49