With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of

2015

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.

(a)

1 only

(b)

2 only

(c)

Both 1 and 2

(d)

Neither 1 nor 2

Answer:

(c)

Explanation

IREDA has been awarded “Mini Ratna” (Category -I) status in 2015 by Ministry of New and Renewable Energy (MNRE). IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 under the administrative control of MNRE to promote, develop and extend financial assistance for renewable energy and energy efficiency /conservation projects with the motto: “ENERGY FOR EVER”.Tikdam: it’s not a bank but provides financial assistance for renewable energy so it’s NBFC.