The Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) became operational in March 2011. Central registry helps to reduce frauds arising from multiple lending by different lenders on the same immovable property. Credit risk will be mitigated to some extent, thereby encouraging lenders to provide loans to those from the informal sector or lower income groups. Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) enacted to facilitate recovery of defaulted loans. Helped reduce non-performing assets and brought discipline amongst borrowers to repay loans.