<h1>Debt recovery tribunal reforms require banks to strengthen monitoring and adopt new regulations for faster recoveries.</h1> Banks were directed to implement effective monitoring and oversight mechanisms, adopt best practices and clear policies for small and high value cases, and frame settlement policies that account for transaction costs to optimise recovery. Stakeholders were urged to work collectively to reduce pendency and mobilise capital, and all DRTs were to adopt the DRT Regulations 2024 to make processes more efficient and less time consuming.