New Delhi, May 4 (KNN) The Department of Financial Services (DFS) under Ministry of Finance held a colloquium of chiefs of Debts Recovery Appellate Tribunals (DRATs) and presiding officers of Debts Recovery Tribunals (DRTs) at Vigyan Bhavan to review measures aimed at strengthening the debt recovery framework and reducing case pendency.
The discussions focused on improving disposal rates and enhancing institutional capacity through targeted training programmes and infrastructure upgrades.
Officials noted an improvement in monthly case disposals and urged tribunals to adopt best practices from high-performing DRTs to further accelerate outcomes.
The colloquium also served as a platform for policy dialogue and reform, enabling exchange of operational insights among tribunals, banks, and stakeholders including the Indian Banks’ Association.
Emphasis was placed on strengthening monitoring mechanisms within banks, prioritising high-value cases, and expanding the use of alternative dispute resolution tools such as Lok Adalats.
Key procedural reforms under consideration included identifying cases suitable for mediation and streamlining processes to expedite resolution of both pending and new cases. Capacity-building initiatives for tribunal staff, including Presiding Officers and Recovery Officers, were also highlighted as critical to improving efficiency.
On the technology front, the DFS underscored the role of mandatory e-filing, hybrid hearing systems, and ongoing upgrades under the e-DRT 2.0 platform in enhancing transparency and operational efficiency.
The upgraded BAANKNET e-auction platform was also cited as improving asset visibility and supporting better recovery outcomes.
The department reiterated its commitment to building a more efficient, transparent, and responsive debt recovery ecosystem.
(KNN Bureau)
