The Department of Financial Services held a key colloquium in Vigyan Bhavan to tackle the backlog in debt recovery cases. Officials discussed mandatory e-filing, hybrid hearings, and a rollout of e-DRT 2.0, alongside training for tribunal staff and tighter bank oversight. The plan also prioritises high-value matters and uses Lok Adalats and mediation to speed outcomes, with BAANKNET e-auctions improving transparency.
The Finance Ministry has held talks aimed at speeding up the disposal of cases through Debt Recovery Tribunals by tightening bank oversight, prioritising high-value matters, and pushing procedural reforms. Officials also discussed using Lok Adalats as an alternate dispute resolution tool, along with capacity-building initiatives, to improve recovery outcomes and reduce delays.
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