With reference to the Indian Renewable Energy Development Agency Limit

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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 only
2 only
Both 1 and 2
Neither 1 nor 2
This question was previously asked in
UPSC IAS – 2015
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Both statements are correct.
The Indian Renewable Energy Development Agency Limited (IREDA) is indeed a Public Limited Government Company (a Mini Ratna under the Ministry of New and Renewable Energy) and is also registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC).
IREDA’s primary objective is to promote, develop, and extend financial assistance for renewable energy and energy efficiency/conservation projects. Its status as a government company enables it to fulfil its developmental role in the renewable energy sector, while its registration as an NBFC allows it to perform lending and financial services within the regulatory framework set by the RBI.

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