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To: Mohan Marette who wrote (157)	2/15/2000 3:47:00 PM
From: Mohan Marette	Read Replies (1) of 494

IIBI seeks tie-up with Goldman Sachs (Calcutta, February 15) The Industrial Investment Bank Of India (IIBI) has approached international investment firm Goldman Sachs to forge a tie-up for its proposed primary dealership outfit. The chairman of IIBI, G Goswami, said that the development financial institution was even keen to offer 51 per cent equity to Goldman sachs for the pd wing. However, a response from the foreign firm was yet to reach IIBI office, Goswami added. The IIBI chairman said that although the institution was financially and managerially equipped to set a full fledged pd wing, the permission from the Reserve Bank of India was yet to come. According to him, the RBI officials were of the view that current volume of treasury operations of IIBI was low and hence plans for setting up of a separate pd arm was not justifiable. (PTI)

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