Q. 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

Answer: (c) Both 1 and 2

Indian Renewable Energy Development Agency Limited
  • It is a Public Limited Government Company established in 1987.
  • It is a Mini Ratna (Category – I) Government of India Enterprise
  • It is under the administrative control of Ministry of New and Renewable Energy (MNRE).
  • IREDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NBFC) with Reserve Bank of India (RBI).
  • IREDA’s mission is “Be a pioneering, participant friendly and competitive institution for financing and promoting self-sustaining investment in energy generation from Renewable Sources, Energy Efficiency and Environmental Technologies for sustainable development.”
  • Motto: “ENERGY FOR EVER”.