WHY TO Authenticate Loan Records by borrowers of different banks?

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  1. NeSL services are taken by different banks to curb the fraud. This is why authentication of Loan Records is being done.

  2. All types of loans like Mortgage loan, Housing Loan, Vehicle Loans etc are needed to be authenticated on NeSL as per the provisions of the IBC and IBBI (Information Utilities) Regulations, 2017. Insolvency and Bankruptcy Code, 2016 was enacted on 28th May 2016. NESL created and store the information related to borrowers under universally accepted format.

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