Question
Under which Act is the legal framework for the recovery
of debts by banks and financial institutions governed?Solution
the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 governs the recovery of debts by banks and financial institutions. This statute empowers banks and financial institutions to recover debts due to them by initiating legal proceedings before the Debt Recovery Tribunals. The Act provides a specialized mechanism for the expeditious adjudication and enforcement of debt recovery matters, ensuring timely resolution of disputes between banks/financial institutions and their borrowers.
On which date was NSDL Payments Bank included in the Second Schedule of the RBI Act, 1934?
With whom TRAI has signed an agreement to establish cooperation in the field of telecom?
Who has been awarded the lifetime achievement award by the Telugu Association of London?
According to the status of Dec 2022, from which district are the maximum beneficiaries who got the Veer Chandra Singh Garhwali Self-Employment Scheme?
Llama 3.2, recently seen in the news, is an open-source AI model developed by which company?
What does the letter 'S' stand for in the Indian Army's "E-SeHAT" module for veterans?
Consider the following statements about Raising & Accelerating MSME Performance (RAMP) programme:
1. RAMP programme is assisted by the IMF.
...Which state hosted the 2024 Khelo India Youth Games?
The Minister of Fisheries, Animal Husbandry and Dairying stated that the Government has approved projects to the tune of more than _______ for the devel...
In which country was the 'RIMPAC Exercise' held, in which the Indian Navy recently participated?
