Broadcasting began in India with the formation of a private radio service in Madras (presently Chennai) in 1924. In the very same year, British colonial government approved a license to a private company, the Indian Broadcasting Company, to inaugurate Radio stations in Bombay and Kolkata. The company almost went bankrupt in 1930 but the colonial government took away the two transmitters and the Department of Labour and Industries started operating them as the Indian State Broadcasting Corporation. In 1936, this very Corporation was renamed All India Radio (AIR) and was controlled by the Department of Communications. When India became independent in 1947, AIR was made a separate Department under the Ministry of Information and Broadcasting.