.............The members of the panel entrusted to revisit existing debt recovery laws include Anurag Jain, Joint Secretary Department of Financial Services, Former law Secretary V K Bhasin, representatives of DRT, RBI, IBA and bar associations, sources added. Besides, panel has been also assigned to draft as new statute with harsh penal provisions for wilful defaulters. The panel was set up to plug the loopholes in the current legal framework for debt recovery..........
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