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    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.

  • I only
  • 2 only
  • Both 1 and 2
  • Neither 1 nor 2
  • Explanation:

    Indian Renewable Energy Development Agency Limited (IREDA) was established on 11th March, 1987 as a Public limited Government Company under the Companies Act, 1956 and it promotes, develops and extends financial assistance for Renewable Energy and Energy Efficiency/Conservation Projects.
    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 (NFBC) with Reserve Bank of India (RBI).