Current Affairs · Banking & Financial Regulations
What specific legal requirement must a bank fulfill immediately after creating an Equitable Mortgage over an immovable property for a Home Loan, as mandated by the SARFAESI Act and related regulations?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Issue a public notice in a national newspaper announcing the creation of the Mortgage.
- 2Register the security interest (charge) over the property with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).✓
- 3Ensure the original property documents are deposited in the bank's vault.
- 4Obtain a No-Objection Certificate (NOC) from the local Municipal Corporation.
Correct answer
Register the security interest (charge) over the property with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
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