DFS Hosts Colloquium to Enhance Debt Recovery Tribunal Efficiency
The Department of Financial Services (DFS) of India's Ministry of Finance organized a colloquium for Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debts Recovery Tribunals (DRTs). They discussed enhancing tribunal digitization and recovery processes, focusing on high-value cases, and improving the use of Lok Adalats as alternative dispute resolution mechanisms. The event aimed at strengthening bank oversight mechanisms and capacity building through structured training programs, while also considering legal amendments to improve the effectiveness of recovery laws.
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