To Analysis the Process of Recovery by Banks

Authors

Dr. Kamalpreet Kaur

Abstract

Banks plays an important role in economy. They help in development of economy. Banks lends loan to the individuals, companies and other institutions as per their requirements. When loan not repayable from 90 days after expiration of maturity date, then it becomes NPA. All developing nations struggle with debt servicing, therefore it's critical that they have a reliable system in place to manage their overall debt and that their procedures for collecting unpaid debt are up to the task. A number of laws have been passed in India to address these needs, including the DRT Act and the SARFAESI Act. The remaining questions are whether these reforms were successful in meeting their goals, if they were enough to calm concerns, and what modifications, if any, are required. Industry players and RBI believe they are deficient, hence a reassessment of the system is necessary. This essay describes the difficulties with debt recovery in India.

Keywords

DRT, SARFAESI, Finance, Non-Performing Asset, Courts.

To Analysis the Process of Recovery by Banks. Dr. Kamalpreet Kaur. 2023. IJIRCT, Volume 9, Issue 6. Pages 1-6. https://www.ijirct.org/viewPaper.php?paperId=2402004