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    Question

    Consider the following statements in regards to Indian Renewable Energy Development Agency Ltd (IREDA):

    I) It is responsible for accelerating the growth of renewable energy (RE) in India.

    II) it has signed MoUs with the Union Bank of India (UBI) and Bank of Baroda (BoB) to accelerate the growth of renewable energy.

    III) This collaboration aims to extend especially in tier-1 & tier-2 cities and rural areas.

    Which of the following statements is/are incorrect?

    A I only Correct Answer Incorrect Answer
    B II only Correct Answer Incorrect Answer
    C III only Correct Answer Incorrect Answer
    D I & II Correct Answer Incorrect Answer
    E None Correct Answer Incorrect Answer

    Solution

    To accelerate the growth of renewable energy (RE) in India, the Indian Renewable Energy Development Agency Ltd (IREDA) signed MoUs with the Union Bank of India (UBI) and Bank of Baroda (BoB). This collaboration aims to extend especially in tier-2 & tier-3 cities and rural areas. With both banks already having an extensive reach across the country, the partnership aims to offer unique and innovative financial support to existing and new customers.

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