"There are many small-ticket cases clogging DRTs, contributing to the pendency. We've advised both banks and DRTs to mobilize borrowers directly. For example, if a loan of ₹30 lakh takes three to four years to recover, the time value of money diminishes. If a borrower is willing to settle, we can explore alternative dispute resolution mechanisms, such as Lok Adalats, where settlements can be reached. These settlements still fall under the DRT's jurisdiction, ensuring an official stamp of approval. This could help resolve many cases and ease the burden on DRTs by tackling small-value cases," the official said.
The official also highlighted the overwhelming presence of low-value cases in DRTs. "The jurisdiction of DRTs starts from ₹20 lakh. If you examine cases between ₹20 lakh and ₹1 crore, you'll find that roughly 75 per cent of the total pendency falls within this range," the official added.
Denne historien er fra September 23, 2024-utgaven av Business Standard.
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Denne historien er fra September 23, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
Non-disclosure of foreign property invites ₹10 lakh penalty per yr
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Modest increase in SBI share price after Q2
Brokerages positively revise their earnings forecasts, maintain target price
Strong growth, margin metrics could support LIC's valuations
In the September quarter (Q2FY25), LIC reported net premium income of ₹1.2 trillion, up 12 per cent year-on-year (Y-o-Y).
Mkts settle flat on FPI selling
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Rising retail ownership to spur equity cult in India: Morgan Stanley
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China wrests MSCI EM IMI top spot from India
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HAVING A TRUCK WITH LNG
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Accounting for climate finance
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Re-examine trade pacts
India must consider entering CPTPP, RCEP
