The Board for Industrial and Financial Reconstruction (BIFR) is a key governmental body involved in the rehabilitation and restructuring of sick industrial companies in India. Aspiring professionals seeking a stable career in financial oversight and policy implementation can find promising opportunities here. General eligibility typically requires a relevant Bachelor's or Master's degree, with specific roles demanding specialized qualifications.
About Board for Industrial and Financial Reconstruction
The Board for Industrial and Financial Reconstruction (BIFR) was an agency of the Government of India, part of the Department of Financial Services of the Ministry of Finance. Set up in January 1987 by the Rajiv Gandhi government, its objective was to determine sickness of industrial companies and to assist in reviving those that may be viable and shutting down the others. On 1 December 2016, the Modi government dissolved BIFR and referred all proceedings to the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) as per provisions of Insolvency and Bankruptcy Code.[
Official Address
Contact Information
- 23701200, 23701201, 23701202, 23701004 23701208, 23701219
- 23701211
- Visit Official Website
About BIFR Careers
The Board for Industrial and Financial Reconstruction (BIFR) was established to address the issue of sickness in industrial companies in India, facilitating their revival or orderly winding up. Careers at BIFR offer a unique opportunity to contribute to economic reforms and corporate governance. The organization plays a critical role in economic policy and financial sector regulation.
| Details | Statutory Body under an Act of Parliament |
| Type | Governmental Regulatory Body |
| HQ | New Delhi, India |
| Entry Gateways | Direct application, Deputation, Relevant Examinations (specific to government service) |
| Salary Range | As per 7th Central Pay Commission (Likely Level 7 and above) |
Organization Overview
BIFR was constituted under the Sick Industrial Companies (Special Provisions) Act, 1985. Its primary objective was to determine the measures which should be adopted with respect to the revival of sick industrial companies. While its functions have transitioned with legislative changes, the expertise and roles it encompassed are crucial for economic stability.
Key Job Profiles
Roles within BIFR typically involve analysis, policy formulation, and administrative functions. Potential positions include:
- Financial Analysts
- Legal Experts
- Investigators
- Administrative Officers
- Policy Researchers
Salary & Benefits
Employees at BIFR are compensated as per the guidelines of the 7th Central Pay Commission. This ensures competitive salaries, often starting at Level 7 or higher, along with comprehensive benefits such as Dearness Allowance (DA), House Rent Allowance (HRA), and other government-mandated perquisites. Pensionary benefits and healthcare are also significant components.
Selection Process
The selection process for BIFR recruitment generally involves a written examination, group discussion, and a personal interview. The specific stages depend on the nature and level of the position being advertised. Candidates are assessed on their domain knowledge, analytical skills, and suitability for public service.
How to Crack BIFR Exams
Success in BIFR recruitment requires a strategic approach. Start by thoroughly understanding the syllabus for the specific post. Focus on building a strong foundation in financial management, economics, and relevant legal frameworks. Practice previous year's question papers to understand the exam pattern and difficulty level. Developing effective time management skills during the exam is crucial. For interviews, prepare to articulate your understanding of BIFR's role and your relevant experience.
All details are sourced from official notifications. MySarkariNaukri.com provides informational guidance only and is not affiliated with any government agency.
Verification Source: https://www.linkedin.com/company/board-for-industrial-and-financial-reconstruction (Note: BIFR's operational scope has evolved, and direct official links may be part of superseded legislation or absorbed functions).
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