JAIIB LRAB Unit 28 - Preliminary

1. The Preamble to the DRT act describes the act as, ‘An act to provide the establishment of tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith .

2. The act is applicable to whole of India except J&K

3. Appellate Tribunal is established for the purpose of preferring appeal against the order passed by the Tribunal.

4. Application

5. Appointed Day

6. Chairperson

7. Debt

8. Financial Institution

9. Presiding Officer means the presiding officer of the DRT appointed under subsection(1) of Section 4

10. Recovery Officer appointed by the Government