Debt Recovery Tribunals which were set up after the passing of Recovery of Debts due to Banks and Financial Institutions Act (RDBBFI), 1993. This Act was amended in?

2016
2014
2015
2017
2018

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 1 : 2016

The correct answer is 2016.

To rejuvenate the DRTs amendment in RDBBFI Act 1993 has been done in 2016.
The amendment gives timelines for various steps in the adjudication process before the debt recovery tribunals.
The time limit for filing of written statements, the passing of orders, appeals, etc. have been reduced.
The Act Empowers the Central Government to provide for uniform procedural rules for the proceedings in the Debts Recovery Tribunals and Appellate Tribunals.
At present, there are 39 DRTs and 5 DRATs functioning in various parts of the country.

4 views Answered 2022-09-04 04:29

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