Arrange the following initiatives taken by the Government of India to tackle the Non-performing assets in their ascending order of chronology : 

(A) Corporate Debt Restructuring

(B) Compromise Settlement

(C) The Debt Recovery Tribunals (DRTs)

(D) Credit Information Bureau

(E) SARFAFSI Act 

Choose the correct answer from the options given below:

The correct answer is (C), (D) (A), (B), (E)

A non-performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.

Key Points 

To arrange the initiatives taken by the Government of India to tackle Non-Performing Assets (NPAs) in their ascending order of chronology, we need to understand the timeline of each initiative:

1. The Debt Recovery Tribunals (DRTs): Established in 1993 under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
2. Corporate Debt Restructuring (CDR): Introduced in 2001 as a voluntary non-statutory mechanism.
3. Credit Information Bureau (CIBIL): Set up in 2000, India's first credit information company.
4. Compromise Settlement: A method employed for settlement of NPAs through compromise or negotiated settlements.
5. SARFAESI Act: The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, enacted to allow banks and financial institutions to auction properties (residential and commercial) to recover loans.