DRT Matters
Debt Recovery Tribunals (DRTs) are quasi-judicial bodies established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, to facilitate expeditious recovery of debts owed to banks and financial institutions
Jurisdiction & Function
Pecuniary jurisdiction
Cases where the debt amount is ₹20 lakhs or more.
Powers
Possess District Court powers for debt recovery, enforce security interests, and issue recovery certificates.
Appellate forum
Appeals lie to the Debt Recovery Appellate Tribunal (DRAT) within 45 days.