financial_management_[www.accfile.com]

Financial System 235
1. Direct finance—Project loan, soft loan, technical development loan, equipment
finance etc.
2. Indirect finance—Refinancing, rediscounting of bills, seed capital to new
entrepreneurs.
3. Special assistance—Promotion of development assistance funds.
4. General assistance—Non-financial promotional activities like marketing, research,
consultancy etc.
Management
Industrial Development Bank of India managed by board of directors which consist of 14
directors and one full time chairman. The directors are nominated by the government, Reserve
Bank of India, company law board, insurance companies and various industries.
Subsidies of Industrial Development Bank of India are as follows:
• IDBI Bank Ltd.
• IDBI Capital Market Service Ltd.
• IDBI Mutual Funds.
• SIDBI
• IDBI Intech Ltd.
Industrial Development Bank of India has helped to set up the following institutions:
• Technical Consultancy Organization.
• EXIM Bank.
• Entrepreneurship Development Institute.
• Credit Rating and information service India Ltd.
Working Result
Total assistance sanctioned by Industrial Development Bank of India in 1998–99 was
Rs. 25,555 crores, of this 96.7% goes to direct assistance, 0.4% belongs to refinance. The
total amount of assistance sanctioned by the Industrial Development Bank of India till the
end of March 1999 from the date of its incorporation has been Rs. 1,07,264 crores.
INDUSTRIAL RECONSTRUCTION BANK OF INDIA (IRBI)
Origin
In April 1971, Industrial Reconstruction Corporation of India (IRCI) was set up by IDBI
and other development and public sector banks. IRCI was reconstituted and renamed as
Industrial Reconstruction Bank of India in 1985 with a special Act in the parliament.
Capital
Industrial Reconstruction Bank of India was started with initial paid up capital of Rs. 50
crore which is contributed by central government, Reserve Bank of India, SCB and various