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Consider the following statements regarding Indian Renewable Energy Development Agency (IREDA):
- It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI).
- It generates its revenue through the interest and principal repayments from the projects it finances.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding Indian Renewable Energy De...
Indian Renewable Energy Development Agency (IREDA)
IREDA is a leading public financial institution in India that promotes and facilitates the development of renewable energy projects in the country. Let's evaluate the given statements to determine their correctness:
Statement 1: It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI).
This statement is correct. IREDA is indeed registered as a non-banking financial company (NBFC) with the Reserve Bank of India (RBI). As an NBFC, it operates as a financial institution that provides various financial services such as lending, investment, and asset management. Being registered with the RBI ensures compliance with regulatory norms and supervision by the central bank.
Statement 2: It generates its revenue through the interest and principal repayments from the projects it finances.
This statement is also correct. IREDA generates its revenue primarily through the interest and principal repayments from the renewable energy projects it finances. It provides financial assistance to various renewable energy projects such as solar, wind, biomass, and hydro power. The funds provided by IREDA help these projects to meet their capital requirements, and the interest and principal repayments made by the projects contribute to IREDA's revenue.
IREDA not only provides financial assistance but also offers technical and consultancy services for renewable energy projects. It plays a crucial role in promoting and facilitating the development of renewable energy in India by providing financial support and expertise to project developers.
Conclusion:
Both the given statements are correct. IREDA is registered as an NBFC with RBI, and it generates its revenue through the interest and principal repayments from the projects it finances.
IREDA is a leading public financial institution in India that promotes and facilitates the development of renewable energy projects in the country. Let's evaluate the given statements to determine their correctness:
Statement 1: It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI).
This statement is correct. IREDA is indeed registered as a non-banking financial company (NBFC) with the Reserve Bank of India (RBI). As an NBFC, it operates as a financial institution that provides various financial services such as lending, investment, and asset management. Being registered with the RBI ensures compliance with regulatory norms and supervision by the central bank.
Statement 2: It generates its revenue through the interest and principal repayments from the projects it finances.
This statement is also correct. IREDA generates its revenue primarily through the interest and principal repayments from the renewable energy projects it finances. It provides financial assistance to various renewable energy projects such as solar, wind, biomass, and hydro power. The funds provided by IREDA help these projects to meet their capital requirements, and the interest and principal repayments made by the projects contribute to IREDA's revenue.
IREDA not only provides financial assistance but also offers technical and consultancy services for renewable energy projects. It plays a crucial role in promoting and facilitating the development of renewable energy in India by providing financial support and expertise to project developers.
Conclusion:
Both the given statements are correct. IREDA is registered as an NBFC with RBI, and it generates its revenue through the interest and principal repayments from the projects it finances.
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Consider the following statements regarding Indian Renewable Energy De...
The Indian Renewable Energy Development Agency (IREDA) recently signed a performance-focused memorandum of understanding (MoU) with the Ministry of New and Renewable Energy (MNRE).
About Indian Renewable Energy Development Agency (IREDA):
- It is a Mini Ratna (Category–I) non-banking financial institution under the administrative control of Ministry of New and Renewable Energy (MNRE).
- It is a Public Limited Government Company established as a Non-Banking Financial Institution (NBFC) in 1987.
- REDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as NBFC with Reserve Bank of India (RBI).
- REDA is primarily engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.
- Motto: ENERGY FOR EVER
- Objectives:
- To give financial support to specific projects and schemes for generating electricity and/ or energy through new and renewable sources and conserving energy through energy efficiency.
- To maintain its position as a leading organization to provide efficient and effective financing in renewable energy and energy efficiency/ conservation projects.
- Funding: IREDA generates its revenue through the interest and principal repayments from the projects it finances, as well as by raising funds from the market and through borrowings.
Hence both statements are correct.
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Consider the following statements regarding Indian Renewable Energy Development Agency (IREDA): It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI). It generates its revenue through the interest and principal repayments from the projects it finances.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding Indian Renewable Energy Development Agency (IREDA): It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI). It generates its revenue through the interest and principal repayments from the projects it finances.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Indian Renewable Energy Development Agency (IREDA): It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI). It generates its revenue through the interest and principal repayments from the projects it finances.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Indian Renewable Energy Development Agency (IREDA): It is registered as a non-banking financial company (NBFC) with Reserve Bank of India (RBI). It generates its revenue through the interest and principal repayments from the projects it finances.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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