BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The minimum and maximum court fee that is required to be paid for filing a suit in a Debt Recovery Tribunal is?
A
Rs. 5, 000; Rs. 1, 00, 000
B
Rs. 10, 000; Rs. 1, 00, 000
C
Rs. 12, 000; Rs. 1, 50, 000
D
All of the above
Explanation: 

Detailed explanation-1: -The application shall be filed by the applicant with the Registrar within whose jurisdiction the applicant is functioning as a bank or financial institution, as the case may be, for the time being. Rs. 1, 000 for every one lakh, subject to a maximum of Rs. 1, 50, 000.

Detailed explanation-2: -What is the minimum due amount to file a case in DRT? The minimum amount owed to financial institutions (FIs) and banks should be more than 20 lac rupees.

Detailed explanation-3: -8:-What is the fee payable for the appeals against orders of the Recovery Officer, if the amount appealed against is Rs. 30 lakhs or more: Rs. 40000.

Detailed explanation-4: -18. Orders and directions in certain cases.-The Tribunal may make such orders to give such directions as may be necessary or expedient to give effect to its orders or to prevent abuse of its process or to secure the ends of justice.

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