DFS colloquium of DRAT chairpersons and DRT presiding officers focuses on cutting pendency
The Department of Financial Services on 2 May 2026 convened a colloquium of Debts Recovery Appellate Tribunal chairpersons and Debts Recovery Tribunal presiding officers at Vigyan Bhavan, New Delhi, highlighting mandatory e-filing, hybrid hearings and e-DRT 2.0 to reduce pendency.
Summary
The Department of Financial Services (DFS) convened a colloquium of Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debts Recovery Tribunals (DRTs) at Vigyan Bhavan, New Delhi, on 2 May 2026, with banks and the Indian Banks' Association. The colloquium focused on reducing pendency and speeding disposal of cases through prioritising high-value cases, using Lok Adalats and mediation, procedural reforms and training. Mandatory e-filing, hybrid hearings and e-DRT 2.0 were highlighted for efficiency, and the revamped BAANKNET e-auction platform was noted for better asset visibility and value realisation.
Key facts
- Convened by
- Department of Financial Services
- Participants
- DRAT Chairpersons, DRT Presiding Officers, banks, IBA
- Venue
- Vigyan Bhavan, New Delhi, 2 May 2026
- Tech measures
- Mandatory e-filing, hybrid hearings, e-DRT 2.0
- e-auction platform
- BAANKNET
Practice MCQs 1 questions
At the DFS colloquium of DRAT and DRT heads on 2 May 2026, which revamped platform was noted for facilitating e-auctions and better asset visibility?
Show answer
Correct answer: B — BAANKNET
The revamped BAANKNET e-auction platform was noted for better asset visibility and value realisation.