Indian Finance Ministry directs banks to improve DRT case monitoring and apply best practices.

The Indian Finance Ministry has instructed banks to enhance monitoring of pending cases in Debt Recovery Tribunals (DRTs) and adopt best practices to improve efficiency. During a recent meeting, officials discussed strategies for reducing case backlogs and optimizing recovery policies, particularly for small and high-value cases. The new DRT Regulations 2024 aim to streamline processes, and banks are encouraged to explore alternative dispute resolution methods to expedite case resolution.

September 21, 2024
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