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India's 2024 Arbitration Bill seeks faster, cheaper dispute resolution in banking, reducing court involvement.
The Arbitration and Conciliation (Amendment) Bill, 2024, aims to overhaul India's banking and financial dispute resolution by introducing faster, cheaper, and more reliable methods.
It reduces court involvement and streamlines processes, supported by the Jupiter Council for Arbitration and Mediation (JCAM), which ensures neutrality and efficiency through online dispute resolution.
The bill aligns with Supreme Court principles of fairness, promising a more efficient financial sector dispute resolution system.
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El proyecto de ley de arbitraje 2024 de la India busca una solución de controversias más rápida y más barata en la banca, reduciendo la participación de los tribunales.