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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