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    Question

    The Reserve Bank of India (RBI) has granted an

    ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA). It was earlier classified as ______.
    A Mutual Fund Business Correct Answer Incorrect Answer
    B Investment and Credit Company Correct Answer Incorrect Answer
    C Credit Rating Agency Correct Answer Incorrect Answer
    D Credit Information Bureau Correct Answer Incorrect Answer
    E Merchant Bank Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA) today. It was earlier classified as ‘Investment and Credit Company (ICC)’. With the IFC status, IREDA will be able to take higher exposure in RE financing. The IFC status will also help the company to access wider investor base for fund mobilisation, resulting in competitive rates for fund raising.

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