The Full Form of IRBI is Industrial Reconstruction Corporation of India.

The Industrial Reconstruction Corporation of India was established as a public limited company in April, 1971 under the control of Reserve Bank of India and the Central Government.

The basic objective of this corporation is to assist rehabilitation of sick industrial units or rehabilitation of units likely to face closure, but showing promise of viability. The down fall of the units may be due to frequent strikes, mismanagement, shortage of raw materials, general recession etc. Their closure will result in unemployment and dislocation of productive activities.

So, in order to protect them, the IRCI has been set up. This corporation aims at providing financial, technical or managerial assistance so that they can be put up again as viable units.