The expansion of BIFR, in the context of the Indian Industry is:

BANKING GENERAL KNOWLEDGE

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

A	Board for Industrial and Financial Reconstruction
B	Bureau for Industrial and Financial Reconstruction
C	Board for Investment and Financial Reconstruction
D	Bureau for Investment and Financial Reconstruction

Explanation:

Detailed explanation-1: -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 .

Detailed explanation-2: -Set up in January 1987 by the Rajiv Gandhi government, its objective was to determine sickness of industrial companies and to assist in reviving those that may be viable and shutting down the others.

Detailed explanation-3: -Expert-Verified Answer. Answer: Board for industrial and financial reconstruction is now replaced by IRDA.

Detailed explanation-4: -On 1 December 2016, the Central government dissolved BIFR and referred all proceedings to the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) as per provisions of Insolvency and Bankruptcy Code.

Detailed explanation-5: -ANSWER. MINISTER OF STATE IN THE MINISTRY OF FINANCE. (a) to (c): The Board for Industrial and Financial Reconstruction (BIFR) sanctioned schemes for rehabilitation of sick industrial companies registered with the BIFR.

There is 1 question to complete.