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Debt Recovery Tribunal

Debt Recovery Tribunals were established to make it easier to quickly collect debt that customers owe to banks and other financial institutions. After the Recovery of Debts Due to Banks and Financial Institutions Act (RDBBFI), 1993, was passed, DRTs were established. A person or organization that is unhappy with the DRT's decisions may appeal those decisions to the Debt Recovery Appellate Tribunal (DRAT). Until that person deposits 75% of the outstanding debt as established by the DRT, the DRAT will not consider the appeal. The primary goal and function of DRT is to recover money owed to banks and other financial institutions from borrowers.

Debt-Recovery-Tribunal

The Tribunal's authority is restricted to resolving disputes involving the recovery of unpaid sums from NPAs that banks have declared in accordance with RBI criteria. The Tribunal is granted all of the District Court's authority. A recovery officer is another employee of the Tribunal who aids in the execution of recovery Certificates approved by the presiding officers. DRT adheres to the law by placing a strong emphasis on swift case resolution and prompt implementation of the decision.

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