- Strengthening monitoring and oversight mechanisms of banks to increase recovery through DRTs.
- Prioritising high-value cases to optimise recovery efficiency.
- Leveraging Lok Adalats as an alternate dispute resolution mechanism for faster disposal of cases.
- Implementing process reforms to improve case disposal timelines in DRTs.
- Capacity-building through structured training for Presiding Officers, Recovery Officers, Registrars, and authorised officers of banks.
Regulatory Reforms and Best Practices
Participants discussed proposed amendments to the Recovery of Debts and Bankruptcy Act, 1993, and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to further enhance the legal framework supporting debt recovery. Emphasis was placed on learning from tribunals with high disposal efficiency to replicate successful practices nationwide.
Digitisation and Capacity Building
The colloquium reinforced the importance of adopting digital tools for efficient case management. Structured training programs for bank officials and tribunal staff are being prioritised to ensure consistent standards, improve recovery rates, and maintain accountability across the financial services sector.