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.
✓ Correct answer: c) Both 1 and 2
ExplanationStatement 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 En- terprise 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 finan- cial and operational autonomy.Statement 2 is correct : IREDA is registered as a Non-Bank- ing 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 fi- nance large-scale renewable energy projects.79
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