DRT
Debt Recovery Tribunal
What DRT means
A quasi-judicial body established under the Recovery of Debts and Bankruptcy Act, 1993 for banks and financial institutions to recover outstanding dues above ₹20 lakh without going through civil courts.
Example
A bank files a DRT application to recover ₹60 lakh from a defaulting LAP borrower; the tribunal can issue a recovery certificate enabling the bank to attach and sell assets.
This definition is based on Ministry of Finance – DRT ↗. We link every figure to its primary source — see our data methodology.
Related regulatory terms
- HFCAn NBFC specifically registered with the National Housing Bank (NHB) to provide home loans and allied housing finance products. Regulated differently from banks; examples include LIC HFL and PNB Housing Finance.
- NBFCA company registered with RBI under the Companies Act that provides financial services such as loans, hire-purchase, and leasing, but cannot accept demand deposits from the general public.
- NHBThe statutory regulator for Housing Finance Companies (HFCs) in India, established under the National Housing Bank Act 1987. It also refinances HFCs at concessional rates to promote affordable housing.
- NPAA loan account classified by a bank when the borrower has not paid principal or interest for more than 90 consecutive days, triggering provisioning, credit bureau reporting, and recovery proceedings.
- RBIIndia's apex monetary authority and the primary regulator of all scheduled commercial banks, payment systems, and NBFCs. It sets the repo rate, issues master directions on lending, and protects borrowers' rights.
- SARFAESIA 2002 law allowing banks and financial institutions to seize and auction mortgaged or hypothecated assets without a court order, once a loan is classified as NPA and a 60-day demand notice is issued.