Q. BIFR was established under Sick Industrial Companies Act 1985, to deal with the problems of industrial sickness with regard to the crucial sectors where public money is locked up. What is correct expansion of BIFR ?
Answer: Board of Industrial and Finance Reconstruction
Notes: The correct expansion of BIFR is "Board of Industrial and Financial Reconstruction." Established in 1985 under the Sick Industrial Companies Act, BIFR aimed to address industrial sickness in sectors where public funds were at risk. It played a crucial role in rehabilitating financially distressed companies, facilitating their revival or closure to protect public interest.