1. The Industrial Investment Bank of India Ltd. (IIBI) was formed by transforming the Industrial Reconstruction Bank of India (IRBI).
2. It was set up by IDBI at the instance of the Government of India in April 1971 for rehabilitation of sick industrial companies.
3. IRBI was incorporated under the Companies Act, 1956 and renamed as the Industrial Investment Bank of India Ltd. in March 1997.
Functions: IIBI offers a wide range of products and services such as:
1. Term-loan assistance for project finance.
2. Short duration non-project asset – backed financing working capital/ other short term loans to companies.
3. Equity Subscription Asset Credit.
4. Equipment finance.
5. Investments in Capital Market and Money market instruments.
