Question
The Reserve Bank of India (RBI) has granted an
‘Infrastructure Finance Company (IFC)’ status to which renewable energy company?Solution
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 ‘Investment and Credit Company (ICC)’.With the IFC status, IREDA will be able to take higher exposure in Renewable Energy financing. The IFC status will also help the company to access wider investor base for fund mobilisation, resulting in competitive rates for fundraising.
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