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What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?
- a)Identifying and detecting sickness at the incipient stage
- b)Providing rehabilitation packages for sick units
- c)Regulating the procedure and conduct of business
- d)Reviewing the accounts of small-scale industries borrowers
Correct answer is option 'B'. Can you explain this answer?
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What is the role of the Board for Industrial and Financial Reconstruct...
The role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness is primarily focused on providing rehabilitation packages for sick units. Below are the key points outlining the role of BIFR in dealing with industrial sickness.
- Identifying and detecting sickness at the incipient stage:
BIFR plays a crucial role in identifying and detecting industrial sickness at an early stage. By closely monitoring the financial health and performance of companies, BIFR can intervene at the incipient stage to prevent further deterioration of the unit.
- Providing rehabilitation packages for sick units:
One of the key functions of BIFR is to provide rehabilitation packages for sick industrial units. These packages may include financial assistance, debt restructuring, technology upgradation, and other measures aimed at reviving the sick unit and ensuring its long-term viability.
- Regulating the procedure and conduct of business:
BIFR also plays a regulatory role in overseeing the procedure and conduct of business for sick units. This includes monitoring compliance with rehabilitation plans, ensuring transparency in financial reporting, and enforcing necessary measures to facilitate the revival of the unit.
- Reviewing the accounts of small-scale industries borrowers:
While BIFR primarily focuses on dealing with industrial sickness in larger units, it may also review the accounts of small-scale industries borrowers to assess their financial health and provide necessary support for rehabilitation.
In conclusion, the Board for Industrial and Financial Reconstruction (BIFR) plays a critical role in dealing with industrial sickness by providing rehabilitation packages, monitoring the financial health of companies, regulating business conduct, and reviewing accounts of small-scale industries borrowers.
- Identifying and detecting sickness at the incipient stage:
BIFR plays a crucial role in identifying and detecting industrial sickness at an early stage. By closely monitoring the financial health and performance of companies, BIFR can intervene at the incipient stage to prevent further deterioration of the unit.
- Providing rehabilitation packages for sick units:
One of the key functions of BIFR is to provide rehabilitation packages for sick industrial units. These packages may include financial assistance, debt restructuring, technology upgradation, and other measures aimed at reviving the sick unit and ensuring its long-term viability.
- Regulating the procedure and conduct of business:
BIFR also plays a regulatory role in overseeing the procedure and conduct of business for sick units. This includes monitoring compliance with rehabilitation plans, ensuring transparency in financial reporting, and enforcing necessary measures to facilitate the revival of the unit.
- Reviewing the accounts of small-scale industries borrowers:
While BIFR primarily focuses on dealing with industrial sickness in larger units, it may also review the accounts of small-scale industries borrowers to assess their financial health and provide necessary support for rehabilitation.
In conclusion, the Board for Industrial and Financial Reconstruction (BIFR) plays a critical role in dealing with industrial sickness by providing rehabilitation packages, monitoring the financial health of companies, regulating business conduct, and reviewing accounts of small-scale industries borrowers.
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What is the role of the Board for Industrial and Financial Reconstruct...
The Board for Industrial and Financial Reconstruction (BIFR) plays a role in providing rehabilitation packages for sick units. It identifies and detects sickness at the incipient stage and determines the measures that need to be taken for the revival and rehabilitation of the units. This includes rescheduling debts, sanctioning additional loans, and enhancing working capital limits.
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What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer?
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What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer?.
What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the role of the Board for Industrial and Financial Reconstruction (BIFR) in dealing with industrial sickness?a)Identifying and detecting sickness at the incipient stageb)Providing rehabilitation packages for sick unitsc)Regulating the procedure and conduct of businessd)Reviewing the accounts of small-scale industries borrowersCorrect answer is option 'B'. Can you explain this answer?.
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