Government to introduce e-governance in debt recovery tribunals for state-run banks

The government is finalising the contours of an ambitious project to introduce egovernance in debt recovery tribunals, which could help staterun banks recover a sizeable part of the Rs 3.7-lakh crore worth of bad loans.

The ‘e-DRT project’ will allow banks and financial institutions to efficiently manage case records, track cases online and access accurate reports. The proposed plan also involves segregating wilful defaulters and fast-tracking cases with the aim to expedite recovery of public money.”We have identified some DRTs with high case volumes,” a finance ministry official said.

“The new system will help financial institutions generate reports and help recovery officers enforce proceedings and orders.” The official said the system will prevent borrowers from stalling the recovery process by approaching the appellate tribunal as it will define a time frame within which the tribunal will have to decide the appeal.
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