Page 17 - Intl. Review (Draft 1.3)

FEATURED

ulatory overreaches carried out means possibly, fully exhausting tions Act (RDBBFI, rolls right off
to curb this pent-up cataclysm? the innovative gamut of eco- the tongue), all the way back in
The most defining feature of nomic intervention, all to varying the summer of ‘93. These specif-
the now nearly a decade-and- degrees of successes. ic directives take precedence
a-half long NPA campaign has over Civil Procedure Code
been the sheer extent of its var- 3.1.1. Judicial Measures (CPC) to ameliorate and provide
iegated spectrum of measures effective restitution to recovery
spreadeagled across all three A. Debt Recovery Tribu- grievances in cases of non-re-
sides of the governmental am- nals (DRTs), 1993 payments, which before the 1993
bit: Judicial, Administrative as Judicial vehicles designed implementation would take ages
well as Executive Economics, specifically to “facilitate the trudging through the civil court
from regulative action to liber- debt recovery involving banks machinery. Its central tenet was
alized ideals, lender-side reform and other financial institutions to bring speedy resolution to
as well as borrower-side reform. with their customers”. DRTs were debt-specific disputes for banks
There’ve been comprehensive set by the Recovery of Debts due & other financial institutions with
overhauls of every imaginative to Banks and Financial Institu- their customers, cases of which

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