Pro­tect­ing you against fraud

HT Estates - - HTES­TATES -

Sub-reg­is­trar of­fices (SRO) main­tain the data re­lated to the mort­gages cre­ated by way of reg­is­tered mort­gage. Proper syn­ergy be­tween the state reg­istries and the CER­SAI can be valu­able for the fi­nan­cial sec­tor, gen­eral pub­lic and the state gov­ern­ments. Ben­e­fits, how­ever, from this can only be de­rived by states that have fully com­put­erised records. As a pi­lot, we are work­ing with the Ma­ha­rash­tra State Registry for cre­at­ing syn­er­gies be­tween the two reg­istries so that not only the en­cum­brance sta­tus but also the own­er­ship sta­tus of the prop­erty can be as­cer­tained,” says Verma.

High­light­ing the fu­ture road maps of CER­SAI, Verma says, “We are ac­tively work­ing on the pro­posal of the min­istry of fi­nance to set up Cen­tral KYC Registry for which the CER­SAI por­tal can be fur­ther ex­panded and cus­tomised for this ob­jec­tive. This is go­ing to be a big value ad­di­tion to the en­tire in­dus­try, pol­icy mak­ers and in­di­vid­u­als who will be not sub­jected to sev­eral KYC re­quire­ments for dif­fer­ent pur­poses within the fi­nan­cial sys­tem.”

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