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    Question

    As per Recovery of Debts due to Banks and Financial

    Institutions Act 1993, any case referred to the Debt Recovery Tribunal should be settled within ____________ .
    A 3 months Correct Answer Incorrect Answer
    B 6 months Correct Answer Incorrect Answer
    C 9 months Correct Answer Incorrect Answer
    D 12 months Correct Answer Incorrect Answer
    E There is no such timeline Correct Answer Incorrect Answer

    Solution

    The DRTs came into being as per the Recovery of Debts due to Banks and Financial Institutions Act 1993. Banks can file an application to the DRTs in order to recover such loan amount from an individual or a company. According to the provisions of the act, such case should be settled within 6 months from the date of such application. 

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