As a borrower of bank do i require to go to debt recovery tribunal
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The government Thursday doubled the pecuniary limit to Rs 20 lakh for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions.
Money & Banking
Monetary limit for filing cases in DRT doubled to Rs 20 lakh
PTI Updated on September 06, 2018
The government Thursday doubled the pecuniary limit to Rs 20 lakh for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions.
The move is aimed at helping reduce pendency of cases in DRTs.
There are 39 DRTs in the country.
The Central government has raised “the pecuniary limit from Rs 10 lakh to Rs 20 lakh for filing application for recovery of debts in the Debts Recovery Tribunals by such banks and financial institutions,” said a Finance Ministry notification.