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.
A
1 only
B
2 only
C
Both 1 and 2
Correct Answer
D
Neither 1 nor 2
Explanation
Option (C) is correct because IREDA is a Mini Ratna Government Enterprise incorporated as a Public Limited Company and registered as a Non-Banking Financial Company (NBFC) with the RBI to provide financial assistance for renewable energy projects. Options (a) and (b) are incomplete as they fail to recognize IREDA's dual status as both a corporate entity under the Companies Act and a specialized financial intermediary. The core concept being tested is the institutional framework and regulatory classification of specialized government financial agencies in India.
Government InstitutionsRenewable Energy FinancingIndian Renewable Energy Development Agency Limited (IREDA)Public Limited Government CompanyNon-Banking Financial Company (NBFC)renewable energy