IREDA upgraded from ‘Schedule B’ to 'Schedule A' CPSE
New Delhi: Renewable Energy Development Agency Ltd (IREDA), the largest pure-play green financing Non-Banking Finance Company in India, has been upgraded from 'Schedule B' to the 'Schedule A' category of Central Public Sector Enterprises.
The upgrade has been effected through an Office Memorandum dated 27th September, 2023, issued by Department of Public Enterprises, Ministry of Finance.
The elevation of IREDA to the ‘Schedule A’ category opens the door for its upgradation from “Mini Ratna (Category– I)” to “Navratna” status.
This will grant increased financial autonomy to IREDA, allowing the organization to make more strategic decisions to further its commitment to accelerating the adoption of renewable energy solutions across the country.
Expressing his delight and gratitude at the upgradation, Chairman and Managing Director of IREDA, Pradip Kumar Das said: "This elevation to 'Schedule A' status is a testament to the tireless efforts of our dedicated team and the trust placed in us by the Government of India.
“It not only acknowledges our past accomplishments but also underscores the immense potential we hold in driving the renewable energy sector's growth in India. By attaining 'Navratna' status and the accompanying increased financial autonomy, we will be in a stronger position to drive the transformation of India's energy landscape towards sustainability."
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
East Turkistan activists to protest Chinese occupation outside White House on October 12
Exercise Pacific Reach: Indian Navy demonstrates global submarine rescue capability
US govt shutdown hits H-1B visa processing, leaves Indian techies in limbo
Delhi Police recover sex toy, obscene CDs from self-styled godman Chaitanyananda’s ashram
