IREDA

Facts for Prelims

IREDA

News: The Indian Renewable Energy Development Agency Ltd. (IREDA), a prominent green financing Non-Banking Finance Company focused on renewable energy, has achieved an upgrade from ‘Schedule B’ to ‘Schedule A’ status
as a Central Public Sector Enterprise.

About:
• The elevation to ‘Schedule A’ status sets the stage for IREDA to potentially attain “Navratna” status, granting it greater financial autonomy.
• The upgraded status enables IREDA to make strategic decisions that further promote the adoption of renewable energy solutions in India.
• The Government of India categorizes Central Public Sector Enterprises (CPSEs) into four schedules: 
Schedule A, B, C, and D. The categorization of a CPSE affects the organizational structure and salary of the board level incumbents.