Govt Debts Recovery Tribunal Coimbatore Jobs 2022 - Sarkari Naukri

The banks and financial institutions in India over the years have been experiencing considerable difficulties in recovering huge amounts of public money blocked in the hands of defaulting borrowers as the existing procedure for recovery of debts due to banks and financial institutions was not simple, swift and capable of reaching a final decision within a time frame.

The Government of India, as a step to streamline the system, appointed committees like “The Tiwari Committee, the Committee on Financial Systems headed by Shri M.Narasimham, former Governor of Reserve Bank of India, and “High Level Committee″ headed by V.S. Hegde. These Committees had recommended the setting up of special tribunals for speedy realization of dues of the credit institutions.

President of India promulgated The Recovery of Debts Due to Banks and Financial Institutions Ordinance, 1993 (Ordinance No.25 of 1993) on 24th June 1993, to provide for establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions.