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    Question

    The Insolvency and Bankruptcy Board of India (IBBI)

    celebrated its 8th Annual Day on 1st October 2024. Which of the following is a key mandate of IBBI as it plays a crucial role in the insolvency and bankruptcy resolution framework in India?
    A Part-regulating all financial institutions involved in banking and insurance. Correct Answer Incorrect Answer
    B Overseeing the resolution of insolvencies of individuals, companies, and partnerships. Correct Answer Incorrect Answer
    C Implementing regulations for non-banking financial institutions (NBFCs) under the Ministry of Finance. Correct Answer Incorrect Answer
    D Monitoring and managing the Public Provident Fund (PPF) for government employees. Correct Answer Incorrect Answer
    E Governing tax-related disputes between corporates and the Income Tax Department. Correct Answer Incorrect Answer

    Solution

    The IBBI is tasked with overseeing the insolvency resolution process for individuals, companies, and partnerships, ensuring a timely and effective framework for debt resolution in India.

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