Press Information Bureau

Government of India

Ministry of Finance

29-June-2012 18:14 IST

Ministry of Finance Issues Instructions to CERSAI Extending the Registration of Subsisting Transactions Prior to 1st April, 2012 free of Any Fee or Cost for a Further Period of Three Months

Department of Financial Services, Ministry of Finance has issued instructions to Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) extending the registration of subsisting transactions prior to 1.4.2011 free of any fee/cost for a further period of three months from 1.7.2012 to 30.9.2012. CERSAI has also been advised to register all the remaining Banks, which are not registered with them so far so that these Banks can also avail this facility.

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DSM/SS/GN

Registration extension for pre-existing secured transactions continued free of fee; remaining banks instructed to join the registry. The Ministry of Finance instructed continuation of no-fee registration for subsisting secured transactions created before 1 April 2011, extending the free registration window from 1 July 2012 to 30 September 2012, and directed CERSAI to register remaining banks so they can avail the fee waiver.