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    Question

    What is the primary objective of the Insolvency and

    Bankruptcy Code (IBC), 2016?
    A Nationalization of banks Correct Answer Incorrect Answer
    B Consolidation of financial institutions Correct Answer Incorrect Answer
    C Time-bound resolution of insolvency Correct Answer Incorrect Answer
    D Regulation of non-banking financial companies Correct Answer Incorrect Answer
    E Setting up of SARFAESI tribunals Correct Answer Incorrect Answer

    Solution

    IBC was introduced to streamline and expedite the resolution of insolvency and liquidation of firms in a structured and time-bound manner.

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