IREDA Organization Status
Question
With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?
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.
Options
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Explanation
IREDA (Indian Renewable Energy Development Agency Limited) is indeed a Public Limited Government Company established in 1987 under the Ministry of New and Renewable Energy. It operates as a Government of India enterprise with public shareholding. IREDA also functions as a Non-Banking Financial Company (NBFC), meaning it is a financial institution that is not a bank but provides financing services, particularly for renewable energy projects. Statement 1 is correct as IREDA is a government-owned public company. Statement 2 is also correct as IREDA is registered and operates as an NBFC providing financial assistance for renewable energy initiatives. Both statements accurately describe IREDA's organizational and functional status. > KEY: IREDA = Public Limited Govt Company + NBFC. Finances renewable energy projects in India. Answer: (c).
Question details
Year
2015
Paper
GS Paper 1
Question
Q100
Subject
Economy
Sub-topic
Renewable Energy and Financial Institutions
Type
Statement-based
Difficulty
Medium
Nature
Static
Source hint
NCERT Economy - Financial Institutions
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