Equitable mortgage

1. No, however, if the Indian Registration Act, as amended by State, prescribe for the same.. it has to be ..  the stamp  duty and charges may have to be paid accordinlgy..

2. Advantages are much more than disadvantages. In this computer era, when frauds are taking place in scores, it is advisable for a banker to register the same, as once the EM is registered , no further trasfer would be possible and no uncruplous borrower woukld cheat the banker...

Further, in some states the stamp duty and registration charges are much but still taking into account the advantages, it is advisable...  

Thanks Pervez