Banking · Debt Recovery Tribunal
What is the main objective of Debt Recovery Tribunals (DRTs) established in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To offer mandatory personal credit counseling services to rural individual borrowers
- 2To expedite the legal adjudication and recovery of high-value debts of ₹20 lakh and above owed to lenders✓
- 3To offer alternative bankruptcy resolution through liquidation proceedings only
- 4To provide advisory and flexible restructuring for micro enterprises
Correct answer
To expedite the legal adjudication and recovery of high-value debts of ₹20 lakh and above owed to lenders
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