Home Loan Frauds in India: Patterns, Case Studies, and Preventive Measures
IntroductionAccording to the Reserve Bank of India’s Annual Report for FY 2024–25, the total value of bank frauds tripled despite a decline in the number of reported cases, indicating that frauds are becoming more sophisticated and financially damaging. Among various fraud typologies, home loan frauds remain a critical area of concern due to their multifaceted…
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Guide to upgraded version of CERSAI 2.0
CERSAI 2.0 is an upgraded version of the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) platform, designed to enhance the efficiency and accessibility of the registry. It offers features like online application submission, real-time tracking of requests, and an improved user experience. This upgrade aims to prevent fraudulent transactions involving…
Read article How does the CERSAI database help Homebuyers and banks?
The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) was established, under Section 20 of the SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002). It is a government-owned company that operates a central registry that deals with the filing of the security interest of…
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RBI’s Revised Framework on Lending Against Gold and Silver Collateral: Implications for Borrowers
The Reserve Bank of India (RBI), vide its circular dated June 6, 2025, has issued a comprehensive and harmonized set of guidelines for lending against gold and silver collateral, applicable to all Regulated Entities (REs). These directions aim to address macroprudential concerns and harmonize prudential and conduct norms across lending institutions. The new framework shall…
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DFS advises banks to invoke personal guarantees and initiate IBC proceedings against the guarantors whenever possible
According to the sources with direct knowledge of the matter, the Department of Financial Services (DFS) has written a letter to Chairmen and heads of the banks on August 26, asking them to consider setting up of an IT system to collate such data, The IBC code amendment 2019 allows creditor to permits file insolvency…
Guidelines for Ethical Engagement of Direct Recovery Agents by Banks and Financial Institutions
IntroductionThe engagement of direct recovery agents by banks and financial institutions necessitates a careful balance between effective debt recovery and the protection of borrowers’ rights. To ensure that recovery practices remain fair, transparent, and respectful, institutions must adhere to regulatory guidelines and ethical standards. Key Considerations in Engaging Recovery Agents 1. Due Diligence Prior to…
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