DRT has been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. DRT stands for

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Debt Recovery Tribunals
B	Demand Recovery Tribunals
C	Deposit Recovery Tribunals
D	Debt Refinance Tribunals

Explanation:

Detailed explanation-1: -3. Establishment of Tribunal.-(1) The Central Government shall, by notification, establish one or more Tribunals, to be known as the Debts Recovery Tribunal, to exercise the jurisdiction, powers and authority conferred on such Tribunal by or under this Act.

Detailed explanation-2: -India Code: Recovery Of Debts And Bankruptcy Act, 1993. Long Title: An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto.

Detailed explanation-3: -Section 2(g) in The Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

Detailed explanation-4: -The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993 with the specific objective of providing expeditious adjudication and recovery of debts due to Banks and Financial Institutions.

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