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 ✓ UPSC's answer
- (d) Neither 1 nor 2
Why the answer is (c)
• IREDA (1987) is a Public Limited Government Company under the Ministry of New and Renewable Energy (statement 1), now a listed Navratna CPSE.
• It is registered with the RBI as a Non-Banking Financial Company (statement 2), financing renewable-energy and energy-efficiency projects.
• Hence both 1 and 2, option (c).
Why the other options are wrong
- (a) 1 only
- Statement 2 is also correct: IREDA is an NBFC.
- (b) 2 only
- Statement 1 is also correct: it is a Government company.
- (d) Neither 1 nor 2
- Both statements are correct.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2015, held on 23 August 2015. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.