Question
Which Non-Banking Financial Institution has achieved the
highest-ever loan sanctions of around Rs 23,921.06 crore?Solution
Indian Renewable Energy Development Agency (IREDA) is a Non-Banking Financial Institution under the administrative control of Ministry of New and Renewable Energy (MNRE). It aims at providing term loans for renewable energy and energy efficiency projects. IREDA has achieved the highest-ever loan sanctions of around Rs 23,921.06 crore and loan disbursements of around Rs 16,070.82 crore. IREDA is fully equipped as an implementing agency for the additional allocation of Rs 19,500 crore for the PLI scheme for the manufacturers of high-efficiency solar modules announced in Budget 2022. The company supported renewable energy capacity installation of 29.48 GW ending March 2022, which is around 28 per cent of installed renewable energy capacity in India.
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Pipe dream
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