The emphasis of regulation was on protection of the interest of depositors and as such directions issued by RBI dealt with acceptance of deposits and matters relating thereto. The unfettered growth of deposits and institutions accepting them outside banking system in the nineties was a matter of concern.
Availability of such records would prevent frauds involving multiple lending against the security of same property as well as fraudulent sale of property without disclosing the security interest over such property. While the Central Registry addresses the encumbrance status of a property, at present Central Registry is not able to check the genuineness of the title of a property.