Finance Ministry seeks faster disposal by DRTs, holds talks

NEW DELHI: The finance ministry on Saturday held deliberations on reducing pendency and accelerating disposal of cases in debt recovery tribunals. It said in a statement that tribunals were urged to emulate best practices adopted by high-performing debt recovery tribunals (DRTs).

"Key areas of discussion included strengthening oversight and monitoring mechanisms within banks to enhance recoveries through DRTs, prioritising high-value cases for optimal recovery outcomes; leveraging Lok Adalats as an effective alternate dispute resolution," it said, adding mechanisms for expeditious disposal, procedural reforms to accelerate case disposal and comprehensive capacity-building initiatives were discussed.

Also Read: Rush to take Rs 1 crore health cover as premiums shed tax load


Also Read: Finance Secretary reviews PSU insurance strategy

With renewed emphasis on capacity building and strengthening infrastructure through targeted training programmes, DRTs have witnessed an encouraging increase in monthly disposal rates, it said.