Economics · New Industrial Policy 1991
What reformative action was taken regarding the mandatory convertibility clause under the New Industrial Policy of 1991?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It was made strictly applicable to all registered small-scale industries
- 2It was completely abolished for loans extended by financial institutions✓
- 3It was modified to allow conversion only with the prior permission of Sebi
- 4It was doubled from its original percentage to enforce state control
Correct answer
It was completely abolished for loans extended by financial institutions
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