The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	1999
B	1995
C	1991
D	1987

Explanation:

Detailed explanation-1: -The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The board was set up in January 1987 and became functional as of 15 May 1987.

Detailed explanation-2: -The Sick Industrial Companies Act (SICA) was enacted in 1985 to address a chronic problem in the Indian economy: industrial sickness.

Detailed explanation-3: -The Board for Industrial and Financial Reconstruction (BIFR) was an agency of the Government of India, part of the Department of Financial Services of the Ministry of Finance. The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).

Detailed explanation-4: -Expert-Verified Answer. Answer: Board for industrial and financial reconstruction is now replaced by IRDA.

Detailed explanation-5: -Board for Industrial and Financial Reconstruction (BIFR): BIFR was established under the Sick Industrial Companies (Special Pro-visions) Act 1985 (SICA). It is an agency of Government of India, part of the Department of Financial services of the Ministry of Finance.

There is 1 question to complete.