Lim­i­ta­tions

Consumer Voice - - Bfsi -

-Con­se­quent to the es­tab­lish­ment/no­ti­fi­ca­tion of CERSAI Act, con­sumers will find it dif­fi­cult to get a sec­ond loan on the same prop­erty. For ex­am­ple, a per­son al­ready has a loan against prop­erty and his son/daugh­ter re­quires an ed­u­ca­tion loan for fur­ther stud­ies in In­dia/abroad. Be­fore the en­act­ment of the Act, banks were sanc­tion­ing sec­ond loans (by not­ing ‘ad­di­tional charge’ on the same prop­erty

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