Banking Awareness - Banking Acts, Reforms & Risk Management
The Insolvency & Bankruptcy Code (IBC) was introduced mainly to address:
The Insolvency & Bankruptcy Code (IBC) was introduced mainly to address:
easy Q1 of 15
Step-by-Step Solution
Step 1: Recall the background before IBC
Earlier recovery mechanisms were slow and fragmented.Step 2: Identify the core problem IBC targeted
IBC introduced a structured, time-bound insolvency resolution process.Final Answer:
Delay and inefficiency in resolving insolvency cases → Option AQuick Check:
IBC = faster and disciplined insolvency resolution ✅
Quick Trick: Delay in recovery → IBC solution.
Common Mistakes:
MISTAKES- Thinking IBC was meant to control interest rates or deposits.
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