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Debt Recovery Tribunal (India)
Debt Recovery Tribunal is a quasi-judicial body formed under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 to facilitate recovery of loans by banks and financial institutions to the customers. Orders of the Debt Recovery Tribunal are appealable before the Debts Recovery Appellate Tribunal. Government of India selects the presiding officer in the Tribunal. The Tribunal is based on Debt Recovery Tribunals Act for a debt which is more than Rs 20,00,000. The Jurisdiction extends to whole of India except to the state of Jammu and Kashmir. History and objective Debts Recovery Tribunals (DRTs) were formed under Banks and Financial Institutions (RDDBFI) Act, 1993 to facilitate debt recoveries by banks and financial institutions and to design effective mechanism to recover their dues speedily without being subjected lengthy process of civil courts. The objective of Debt Recovery Tribunal is to ensure recovery of borrowed money from debtors which a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quasi-judicial Body
A quasi-judicial body is non-judicial body which can interpret law. It is an entity such as an arbitration panel or tribunal board, that can be a public administrative agency but also a contract- or private law entity, which has been given powers and procedures resembling those of a court of law or judge, and which is obliged to objectively determine facts and draw conclusions from them so as to provide the basis of an official action. Such actions are able to remedy a situation or impose legal penalties, and they may affect the legal rights, duties or privileges of specific parties.''West's Encyclopedia of American Law'', edition 2. Copyright 2008 The Gale Group, Inc. Powers Such bodies usually have powers of adjudication in such matters as: * breach of discipline * conduct rules * trust in the matters of money or otherwise Their powers are usually limited to a very specific area of expertise and authority, such as land use and zoning, financial markets, employme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Institution
Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions: # Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; # Contractual institutions – insurance companies and pension funds # Investment institutions – investment banks, underwriters, and other different types of financial entities managing investments. Financial institutions can be distinguished broadly into two categories according to ownership structure: * Commercial banks * Cooperative banks Some experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. A consequence of this might ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of India
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, consisting of 28 union states and eight union territories. Under the Constitution, there are three primary branches of government: the legislative, the executive and the judiciary, whose powers are vested in a bicameral Parliament, President, aided by the Council of Ministers, and the Supreme Court respectively. Through judicial evolution, the Parliament has lost its sovereignty as its amendments to the Constitution are subject to judicial intervention. Judicial appointments in India are unique in that the executive or legislature have negligible say. Etymology and history The Government of India Act 1833, passed by the British parliament, is the first such act of law with the epithet "Government of India". Basic structure The gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations average to between 73–55 ka.", "Modern human beings—''Homo sapiens''—originated in Africa. Then, int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jammu And Kashmir (union Territory)
Jammu and Kashmir is a region administered by India as a union territory and consists of the southern portion of the larger Kashmir region, which has been the subject of a dispute between India and Pakistan since 1947, and between India and China since 1962.(a) (subscription required) Quote: "Kashmir, region of the northwestern Indian subcontinent ... has been the subject of dispute between India and Pakistan since the partition of the Indian subcontinent in 1947. The northern and western portions are administered by Pakistan and comprise three areas: Azad Kashmir, Gilgit, and Baltistan, the last two being part of a territory called the Northern Areas. Administered by India are the southern and southeastern portions, which constitute the state of Jammu and Kashmir but are slated to be split into two union territories. China became active in the eastern area of Kashmir in the 1950s and has controlled the northeastern part of Ladakh (the easternmost portion of the region) sinc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-most populous city in India after Delhi and the eighth-most populous city in the world with a population of roughly 20 million (2 crore). As per the Indian government population census of 2011, Mumbai was the most populous city in India with an estimated city proper population of 12.5 million (1.25 crore) living under the Brihanmumbai Municipal Corporation. Mumbai is the centre of the Mumbai Metropolitan Region, the sixth most populous metropolitan area in the world with a population of over 23 million (2.3 crore). Mumbai lies on the Konkan coast on the west coast of India and has a deep natural harbour. In 2008, Mumbai was named an alpha world city. It has the highest number of millionaires and billionaires among all cities i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delhi
Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, primarily its western or right bank, Delhi shares borders with the state of Uttar Pradesh in the east and with the state of Haryana in the remaining directions. The NCT covers an area of . According to the 2011 census, Delhi's city proper population was over 11 million, while the NCT's population was about 16.8 million. Delhi's urban agglomeration, which includes the satellite cities of Ghaziabad, Faridabad, Gurgaon and Noida in an area known as the National Capital Region (NCR), has an estimated population of over 28 million, making it the largest metropolitan area in India and the second-largest in the world (after Tokyo). The topography of the medieval fort Purana Qila on the banks of the river Yamuna matches the literary description of the citadel Indraprastha in the Sanskrit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kolkata
Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, commercial, and financial hub of Eastern India and the main port of communication for North-East India. According to the 2011 Indian census, Kolkata is the seventh-most populous city in India, with a population of 45 lakh (4.5 million) residents within the city limits, and a population of over 1.41 crore (14.1 million) residents in the Kolkata Metropolitan Area. It is the third-most populous metropolitan area in India. In 2021, the Kolkata metropolitan area crossed 1.5 crore (15 million) registered voters. The Port of Kolkata is India's oldest operating port and its sole major riverine port. Kolkata is regarded as the cultural capital of India. Kolkata is the second largest Bengali-speaking city after Dhaka ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allahabad
Allahabad (), officially known as Prayagraj, also known as Ilahabad, is a metropolis in the Indian state of Uttar Pradesh.The other five cities were: Agra, Kanpur (Cawnpore), Lucknow, Meerut, and Varanasi (Benares). It is the administrative headquarters of the Allahabad district—the most populous district in the state and 13th most populous district in India—and the Allahabad division. The city is the judicial capital of Uttar Pradesh with the Allahabad High Court being the highest judicial body in the state. As of 2011, Allahabad is the seventh most populous city in the state, thirteenth in Northern India and thirty-sixth in India, with an estimated population of 1.53 million in the city. In 2011 it was ranked the world's 40th fastest-growing city. Allahabad, in 2016, was also ranked the third most liveable urban agglomeration in the state (after Noida and Lucknow) and sixteenth in the country. Hindi is the most widely spoken language in the city. Allahabad l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chennai
Chennai (, ), formerly known as Madras ( the official name until 1996), is the capital city of Tamil Nadu, the southernmost Indian state. The largest city of the state in area and population, Chennai is located on the Coromandel Coast of the Bay of Bengal. According to the 2011 Indian census, Chennai is the sixth-most populous city in the country and forms the fourth-most populous urban agglomeration. The Greater Chennai Corporation is the civic body responsible for the city; it is the oldest city corporation of India, established in 1688—the second oldest in the world after London. The city of Chennai is coterminous with Chennai district, which together with the adjoining suburbs constitutes the Chennai Metropolitan Area, the 36th-largest urban area in the world by population and one of the largest metropolitan economies of India. The traditional and de facto gateway of South India, Chennai is among the most-visited Indian cities by foreign tourists. It was ranked the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
