Parliamentary Debates. Parliament of India. Official Report. Saturday 28th April 1951. Part II - Proceedings other than Questions and Answers

Then, as in the case of the Industrial Finance Corporation, the guarantee to he given for the minimum rate of divi- dend on the Shares is to he fixed at the time of the issue of these shares since the rate would have to be varied from State to State and according to the con- ditions prevailing at the time of each issue of shares. [...] Having regard to the inade- quacy of the existing available facili- ties and the need for rapid industriali- sation of the country, I need hardly stress the importance of the proposed measure in the interests of the indus. 7(174 State Financial 28 APRIL 1951 Corporations Bill 7676 [Shri C. D. Deshmukh] trial well-being of the country as a whole. [...] Shri Mahavir Tyagi, and the Mover, with instructions to report by the last day of the first week of the next session. " I am not placing before the House that part of the motion of the hon. [...] or of the Board, the relations of the Board to the managing director, and to the Government or the Reserve Bank. [...] The Reserve Bank is interested and public deposits and borrowing by the IndUstrial Corporation to the extent of five or six times capital and reserve are involved In such cases is it not necessary that there should be power to the Industrial Finance Corporation of the States that they should inspect the accounts and examine the working of the industry during the currency of the loan?