Finance Ministry Hosts DRT-DRAT Colloquium in Delhi

27 May 2025 CW Team

The Department of Financial Services (DFS), Ministry of Finance, convened a colloquium of Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs) on 24 May 2025 at Vigyan Bhavan, New Delhi. Justice S.V.N. Bhatti, Judge of the Supreme Court of India, delivered the keynote address. The gathering also included senior DFS officials and representatives from public and private sector banks, along with the Indian Banks’ Association.

The Secretary of DFS outlined key initiatives to improve tribunal efficiency, including the implementation of revised DRT Regulations, mandatory e-filing, video conferencing, and hybrid hearings aimed at reducing turnaround times.

Discussions focused on several critical areas:

5. Effective enforcement of the DRT Regulations, 2024

6. Strengthened monitoring by banks to improve recovery rates

7. Prioritisation of high-value cases for optimal recovery

8. Use of alternative dispute resolution methods such as Lok Adalats

9. Enhanced training for Presiding Officers and tribunal staff

10. Streamlining processes to accelerate case disposal

Stakeholders were urged to collaborate in clearing case backlogs and establishing a robust recovery ecosystem, enabling redeployment of locked capital for productive use in the economy.

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