Q1. With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?
1. It is a Public Limited Government Company.
2. It is a Non-Banking Financial Company.
Select the correct answer using the code given below.
1. It is a Public Limited Government Company.
2. It is a Non-Banking Financial Company.
Select the correct answer using the code given below.
Explanation
Statement 1 is correct: IREDA was incorporated in 1987 as a public limited government company under the Companies Act, 1956. It operates as a Government of India Enterprise and is under the administrative control of the Ministry of New and Renewable Energy (MNRE). In April 2024 IREDA achieved the "Navratna" status which granted it greater financial and operational autonomy.
Statement 2 is correct: IREDA is registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of In-dia (RBI). In 2023 it was granted the status of an Infrastructure Finance Company (IFC) by the RBI enhancing its capacity to finance large-scale renewable energy projects.