RBI asks NBFCs to gear up for Lok Adalat

The Reserve Bank of India (RBI) has appealed to all the non-banking finance companies (NBFCs) to participate in the Lok Adalat being organised by National Legal Services Authority (Nalsa) on Saturday.

The department of financial services, Ministry of Finance, said Nalsa is organising an all-India Lok Adalat on Saturday in all the districts across the country, to settle long pending cases of dues, including those pending under the Negotiable Instruments Act, 1881.

Justice G S Singhvi, a Supreme Court judge and Nalsa's executive chairman, has asked all public, private, and foreign banks and NBFCs to participate in the Lok Adalat.