The mandate of the Department of Financial Services covers the functioning of Banks, Financial Institutions, Insurance Companies and the National Pension System. The Department is headed by the Secretary (FS) who is assisted by one Additional Secretary (AS), four Joint Secretaries (JS), two Economic Advisers (EA) and a Deputy Director General (DDG).
The Department of Financial Services (DFS) oversees several key programs/initiatives and reforms of the Government concerning the Banking Sector, the Insurance Sector and the Pension Sector in India.
The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) are established under The Recovery of Debts and bankruptcy Act,1993 for expeditious adjudication and recovery of debits due to banks and financial institutions and for matters connected therewith or incidental thereto. There are s Debts Recovery Appellate Tribunals in lndia.
Department of f financial Services