To reduce the burden on debt recovery tribunals (DRTs), the finance ministry has asked public sector banks (PSBs) to go for one time settlement (OTS) of loan default cases ranging
FinMin urges PSBs to settle small debt defaults by taking haircuts
Says this would enable in reduction of pending cases at DRTs and enhance recovery for banks
 "Finance Ministry")
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The delay in the disposal of cases is due to the fact that there is not generally a haircut in DRTs as is the case with National Company Law Tribunal (NCLT)
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Topics : Finance Ministry PSBs
First Published: May 29 2023 | 7:37 PM IST
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