IREDA Elevated to 'Navratna' Status by Government

IREDA Elevated to 'Navratna' Status by Government

Daily Current Affairs   /   IREDA Elevated to 'Navratna' Status by Government

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Category : Miscellaneous Published on: May 03 2024

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  • IREDA, a public sector enterprise, has been granted the prestigious 'Navratna' status by the Indian government, joining the league of 17 Navratna PSEs in India.
  • With Navratna status, IREDA gains significant autonomy and financial flexibility, empowering it to make investments up to ₹1,000 crore without prior government approval.
  • This newfound autonomy enables IREDA to expedite decision-making processes and project execution, facilitating the promotion and development of renewable energy initiatives.
  • As a Non-Banking Financial Institution, IREDA plays a crucial role in promoting, developing, and providing financial assistance for projects related to new and renewable sources of energy and energy efficiency initiatives.
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