A bank is conducting a forensic check on a property offered as security for a Home Loan. Statement I: A mandatory step in the Lender's Appraisal Procedure is the Registration of Documents and the Mortgage deed with the Sub-Registrar. Statement II: The bank must check the CERSAI database to ensure that no prior security interest has been created on the same property. Statement III: The bank's entire focus during the Appraisal Procedures should be on verifying the borrower's income, and property document verification can be skipped if the borrower has a high credit score. Which of the following statements correctly assesses the situation?

Question

Banking · Appraisal Procedures

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

I and II are correct; III is incorrect.

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Appraisal Procedures?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Banking · Appraisal Procedures

Which movement aimed to promote Khadi, a hand-spun and handwoven cloth native to India?

Who were prominent leaders associated with the initial phase of the Telangana Rebellion (1946-1951) against the Nizam's rule and feudal landlords?

What was the immediate trigger for the Revolt of 1857?

Answer 1

I, II, and III are correct.

Answer 2

I and III are correct; II is incorrect.

Answer 3

II and III are correct; I is incorrect.

Answer 4

I and II are correct; III is incorrect.

Related Practice Questions