IREDA gets Infrastructure Finance Company status from RBI

IREDA gets Infrastructure Finance Company status from RBI

Daily Current Affairs / IREDA gets Infrastructure Finance Company status from RBI

Change Language English Hindi

Category : Business and economics Published on: March 16 2023

Share on facebook

State-owned Indian Renewable Energy Development Agency (IREDA) has received Infrastructure Finance Company status from the Reserve Bank of India.
It was earlier classified as an 'Investment and Credit Company (ICC)'.
The IFC status will also help the company to access wider investor base for fund mobilisation, resulting in competitive rates for fund raising.
The grant of IFC status is a recognition of IREDA’s 36 years of infrastructure financing and development with focused development of Renewable Energy.
With IFC status, IREDA will keep contributing towards Govt. of India’s target of 500 GW installed capacity of non-fossil fuels by 2030.
Indian Renewable Energy Development Agency (IREDA) was incorporated as a Public Limited Company in the year 1987 as a 'Non-Banking Financial Institution'.
It is a Miniratna (Category 1) type company functioning under the administrative control of 'Ministry of New and Renewable Energy, Government of India.
It has been notified as a 'Public Financial Institution' under section 4'A' of the 'Companies Act, 1956'.

Recent Post's

Mauritius awarded its highest honor, ‘Order of the Star and Key of the Indian Ocean,’ to PM Modi.
Read More....
The government will establish daycare cancer centers in every district within three years.
Read More....
According to the second advance estimates of the Ministry of Agriculture, India achieved a record food grain production in the 2024-25 session, with Kharif at 16.6391 million tonnes and Rabi (excluding summer crops) at 16.4527 million tonnes.
Read More....
India signed an MoU with Armenia for cooperation in the regulation of medical products.
Read More....
The joint military exercise Khandjar-XII between the special forces of India and Kyrgyzstan began in Tokmok, Kyrgyzstan, and will be held from March 10 to 23, 2025.
Read More....
Dr. Jaishree Venkatesan became the first Indian to win the prestigious Ramsar Award in the ‘Wetland Wise Use’ category and was recognized as a female changemaker in wetlands by the Ramsar Secretariat.
Read More....
Self-Help Groups (SHGs) of Andhra Pradesh set four world records—one Guinness and three World Records Union records, with DWCRA members achieving 3 lakh orders worth ₹5.13 crore in a week on ONDC.
Read More....
Union Health Minister J.P. Nadda inaugurated the third International Symposium on Health Technology Assessment (ISHTA 2025) at Bharat Mandapam, organized by the Department of Health Research in collaboration with WHO India and the Centre for Global Development.
Read More....
No Smoking Day is observed every year on the second Wednesday of March.
Read More....
Mumbai will host the WAVES 2025 Summit, with a high-level meeting co-chaired by the Chief Secretary of Maharashtra and the Secretary of the Ministry of Information and Broadcasting.
Read More....