Mumbai, Nov 20 (KNN) The National Legal Services Authority (NALSA) is organizing Lok Adaalat (people's court) on November-23 in all districts of the country to settle long pending financial disputes.

All banks and the Non-Banking Finance Companies (NBFC) have been asked by the Reserve Bank of India to participate in the Lok adaalat and settle dispute regarding dues from borrowers and defaulters.

An advice has also been given in this regard by executive chairman of the NALSA, G S Singhvi, Judge of the Supreme Court.

The Lok Adaalats can be an effective instrument for speedy disposal of disputes and can be of great help at a time when banks and financial institutions are facing a major problem of increase in non-performing assets.  (KNN Bureau)