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

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)

Nikesh Singh New Delhi

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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

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First Published: May 29 2023 | 7:37 PM IST

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