Banking · Debt Recovery Tribunal Procedures
Consider the following statements regarding the Debt Recovery Tribunal (DRT) procedures and the RDB Act: Statement I: The DRT has the power to issue a 'Certificate of Recovery' which has the same force as a decree of a civil court, and it is executed by a Recovery Officer appointed for the tribunal. Statement II: If a borrower wants to appeal against an order passed by the DRT, the appeal must be filed before the DRAT within 45 days, accompanied by a 50% deposit of the debt amount. Statement III: The DRT can entertain counter-claims and set-offs filed by the borrower against the bank during the recovery proceedings. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only I
- 2Only I and II
- 3Only I and III✓
- 4I, II and III
Correct answer
Only I and III
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