Question

Which of the following entity is not expressly named as a ‘financial sector regulator’ under the Insolvency and Bankruptcy Code, 2016?

• A. Reserve Bank of India
• B. World Bank
• C. Securities and Exchange Board of India
• D. Insurance Regulatory and Development Authority of India

Hint:

Only Indian statutory regulators are recognised as financial sector regulators under the IBC.

Answer 1

The Correct Option is B

Step 1: Meaning of financial sector regulator.
Section 3(18) of the Insolvency and Bankruptcy Code, 2016 defines ‘financial sector regulator’.
Step 2: Regulators included.
The definition expressly includes RBI, SEBI, IRDAI, and the Pension Fund Regulatory and Development Authority.
Step 3: Exclusion.
The World Bank is an international financial institution and is not a statutory regulator under Indian law.
Step 4: Conclusion.
Hence, the correct answer is (B) World Bank.