Raised DRT threshold will speed up NPA recovery: DFS Secy

The decision to double the limit to Rs 20 lakh for filing applications in debt recovery tribunals will help them focus on high value matters leading to quicker recovery of bad loans, the Finance Ministry said Tuesday. The pecuniary limit was raised last week following amendment in the rules of Recovery of Debts due to Banks and Financial Institutions Act, 1993. Revising the limit will free up debt recovery tribunals (DRT), leaving them to focus on high-value matters which will lead to quicker recovery of NPAs, Financial Services Secretary Rajiv Kumar said. (Text: PTI)


READ  UPDATE 1-Sony shares surge after Reuters reports Third Point building stake again


Please enter your comment!
Please enter your name here