(a) whether the Government is considering a proposal to wind up Industrial Investment
Bank of India (IIBI), Kolkata; and
(b) if so, the deta: Is and reasons therefor?
(a) whether the Government is considering a proposal to wind up Industrial Investment
Bank of India (IIBI), Kolkata; and
(b) if so, the deta: Is and reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PAW AN KUMAR BANSAL)
(a) & (b) : Industrial Investment Bank of India (IIBI) has accumulated losses which have
eroded the capital and resources of the company. Reserve Bank of India has advised that
the only option for IIBI appears to be winding up. As a result, it is not possible for
IIBI to continue its operations.