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.
Explanation
The Indian Renewable Energy Development Agency (IREDA) is a Non-Banking Financial Institution under the administrative control of Ministry of New and Renewable Energy for providing term loans for renewable energy and energy efficiency projects.
Statement 1 is correct: IREDA is a Public Limited Government Company established under the Companies Act, 1956. Statement 2 is correct: IREDA is also registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI).