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Briefly explain IIBI. Industrial Reconstruction Bank of India (IRBI) was transformed and renamed as Industrial Investment Bank of India Ltd or IIBI💡 under the Companies Act, 1956 in March, 1997. It was initially setup by IDBI through Government of India in April 1971. Its sole purpose was to rehabilitate poorly performing industrial companies. Functions: It provides a wide range of products and services as specified below. Assistance in term-loan for project finance. Backing the financing of working capital or other short term loan to companies. This is usually for purchasing short duration non-project assets. Capital market and money market instruments investments. Dealing with equity subscription asset credit. Equipment finance. Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse...