UPSC CSE Prelims 2015
The Indian Renewable Energy Development Agency Limited (IREDA) is a Public Limited Government Company. It was established in 1987 under the administrative control of the Ministry of New and Renewable Energy (MNRE). Its primary objective is to promote, develop, and extend financial assistance for renewable energy and energy efficiency/conservation projects.
IREDA is also classified as a Non-Banking Financial Company (NBFC) by the Reserve Bank of India (RBI). It plays a crucial role in financing various renewable energy projects across India, contributing to the country's sustainable development goals.
Option (a) is incorrect because while statement 1 correctly identifies IREDA as a Public Limited Government Company, statement 2 is also correct in classifying it as a Non-Banking Financial Company. Therefore, selecting only statement 1 is incomplete.
Option (b) is incorrect because while statement 2 correctly identifies IREDA as a Non-Banking Financial Company, statement 1 is also correct in classifying it as a Public Limited Government Company. Therefore, selecting only statement 2 is incomplete.
Option (d) is incorrect because both statements 1 and 2 are factually correct regarding the nature and function of IREDA. Thus, asserting that neither statement is correct is inaccurate.