Question 38 from UPSC CSE 2015 - Current Affairs

Question

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.

IASCODEX · Accepted Answer

Correct Option: C. Both 1 and 2

Strategy: Verify the statements 'Public Limited Government Company' and 'Non-Banking Financial Company' against IREDA's known status.

Key Info: **About IREDA**

**Incorporation and Control:** A Government of India enterprise established in 1987, operating under the Ministry of New and Renewable Energy (MNRE).

**Legal and Regulatory Status:** Registered as a 'Public Limited Government Company' under the Companies Act. It is also classified as a Non-Banking Financial Company (NBFC) and a Public Financial Institution (PFI), regulated by the Reserve Bank of India (RBI).

**Core Mandate:** To promote, develop, and extend financial support for renewable energy and energy efficiency projects throughout India.

**Principal Functions:** Providing loans and financing for various clean energy initiatives, including solar, wind, biomass, and hydro power projects.

**Strategic Role:** Acting as a key financial institution to support the government's goals for expanding renewable energy capacity and fulfilling international climate commitments.

IASCODEX · Answer

Option A: 1 only

IASCODEX · Answer

Option B: 2 only

IASCODEX · Answer

Option D: Neither 1 nor 2

With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct? It is a Public Limited Government Company. It is a Non-Banking Financial Company.

With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?

It is a Public Limited Government Company.

It is a Non-Banking Financial Company.