Department of Financial Services (DFS) organises a colloquium of Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs)

Various key initiatives taken by the Department highlighted at the colloquium, such as the adoption of revised DRT Regulations, mandatory e-filing, among others

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

Secretary DFS highlighted the various key initiatives taken by the Department such as adoption of revised DRT Regulations, mandatory e-filing, hearing through video-conferencing, hybrid hearings, etc. for reducing the turnaround time of the matters adjudicated by the tribunals.

The colloquium witnessed discussions on a wide spectrum of issues to enhance the efficiency of DRTs. The key areas of deliberation included:

1. Effective implementation of DRT Regulations, 2024;

   
   

2. Robust monitoring and oversight mechanisms by banks for increasing recovery through DRTs;

   
   

3. Prioritisation of high-value cases in DRTs for optimal recovery.

   
   

4. Use of alternate dispute resolution mechanisms, including Lok Adalats for expeditious disposal of cases;

   
   

5. Intensive training of Presiding Officers and other officials of DRTs;

   
   

6. Introduction of further reforms to reduce turnaround time for various processes in DRT proceedings, etc.

All stakeholders were urged to collaborate in reducing the pendency of cases by establishing an effective recovery ecosystem. This would facilitate the redeployment of capital locked in cases pending before DRTs for productive use in the economy. |||