The average annual recovery rate under Debt Recovery Tribunal (DRT) mode was estimated to be around 25 per cent, said a report. “Consequently, considering a four-year wait to dispose all the cases pending under DRT mode, opportunity cost to banks and financial institutions was estimated to be around Rs 25,000 crore,” CUTS International said in … Read More →
The Debts Recovery Tribunal have been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The original aim of the Debts Recovery Tribunal was to receive claim applications from Banks and Financial Institutions against their defaulting borrowers. For this the Debts Recovery Tribunal (Procedure) Rules 1993 were … Read More →