Thursday, October 15, 2015

Banks can soon take E-route to speed up DRT Redressal

Indian banks may soon be able to settle their grievances with Debt Recovery Tribunals (DRTs) at a faster pace as proceedings go online. The Finance Ministry is planning to computerise the entire operations of the DRTs and do away with unnecessary procedures. There will be provision for only two hearings- interim and final. All other procedures will be eliminated.

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