CIBIL (Credit Information Bureau India Ltd) and CRESAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) are coming together to propose lenders a single window facility to check the caliber of credit and legal stature of a property. Lenders will also have the opportunity to get all the details on the websites of these authorities. The organizations will sign an agreement on 3rd December for the alliance.CIBIL is a credit information company that aid loan providers in managing their business efficiently and helps consumers in securing their credit. It also contains the trade details and credit history of borrowers. Members include all leading banks, financial institutions and credit card companies.CERSAI is a fraud prevention body, promoted by the Centre that makes it mandatory for the borrower to register the title deed of transaction with it. The rising number of home loan frauds, marked by borrowers raising multiple loans using forged documents, prompted policy makers to come up with a proposal to prevent such frauds.According to SARFAESI Act (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and financial institutions to auction properties when borrowers fail to repay their loans. It enables banks to reduce their non-performing assets by adopting measures for recovery or reconstruction), banks and financial institutions are required to file the details of all mortgages created in their favor by the deposit of title deeds to CERSAI. CIBIL collects borrowers’ repayment records from banks and other lenders on a monthly basis and maintains these.The amalgamation of both of the financial security authority will be helpful for lenders as well as borrowers. займ на карту без отказов круглосуточновзять кредит онлайн