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    Question

    The Insolvency and Bankruptcy Code (IBC) was enacted in

    which year?
    A 2014 Correct Answer Incorrect Answer
    B 2015 Correct Answer Incorrect Answer
    C 2016 Correct Answer Incorrect Answer
    D 2017 Correct Answer Incorrect Answer

    Solution

    The IBC was enacted in 2016 to streamline the process of insolvency and bankruptcy resolution for companies and individuals. Simplifies insolvency proceedings. Time-bound resolution process (180-270 days). Enhances ease of doing business. Protects creditorsтАЩ rights. Reduces NPAs (Non-Performing Assets).

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