Debts Recovery Tribunal

Debts Recovery Tribunal (DRT) is a specialized judicial body in India that handles cases related to the recovery of debts by banks and financial institutions. When borrowers default on loan payments, these institutions can approach the DRT to seek resolution and recover unpaid dues efficiently. The tribunal follows a simplified legal process tailored for banking disputes, providing a faster alternative to regular courts. It ensures that lenders can recover their money while borrowers are given an opportunity to contest or settle the dues. Overall, the DRT facilitates timely debt resolution, maintaining financial stability and credit discipline.