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.
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UPSC Civil Services preparation
- A1 only
- B2 only
- CBoth 1 and 2Correct
- DNeither 1 nor 2
Explanation
Let's examine the statements about the Indian Renewable Energy Development Agency Limited (IREDA):
1. It is a Public Limited Government Company: This statement is correct. IREDA is a Mini Ratna (Category-I) company under the administrative control of the Ministry of New and Renewable Energy (MNRE). It is registered as a Public Limited Company under the Companies Act, 1956.
2. It is a Non-Banking Financial Company: This statement is correct. IREDA is registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC). Its primary role is to provide financial assistance for renewable energy and energy efficiency/conservation projects in India.
Since both statements are correct, the answer is both 1 and 2.

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