Debts Recovery Tribunal (DRT)

The Debt Recovery Tribunal (DRT) is a special legal body in India established to resolve disputes related to bank loans and debts. It handles cases where banks and financial institutions seek to recover money owed by borrowers who fail to repay loans. DRT aims to expedite the recovery process, allowing banks to reclaim their funds efficiently. It operates under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, and is designed to provide faster justice compared to regular courts, helping to address the issues of non-performing assets in the banking sector.