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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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