 "The Finance Ministry pushes for quicker debt resolution, targeting persistent low-value cases to declog Debt Recovery Tribunals.")
The Finance Ministry pushes for quicker debt resolution, targeting persistent low-value cases to declog Debt Recovery Tribunals.
The Union Finance Ministry is urging banks and Debt Recovery Tribunals (DRTs) to engage with borrowers outside of formal proceedings to tackle the backlog of cases. Many small-value cases are significantly clogging the system, with 75 percent of pending cases between Rs 20 lakh and Rs 1 crore. To streamline the process, the ministry recommends ...
