With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?
1. It is a Public Limited Government Company.
2. It is a Non – Banking Financial Company.
Select the correct answer using the code given below:

The correct option is Both 1 and 2.

To understand why this is the correct answer, let us analyze the Indian Renewable Energy Development Agency Limited (IREDA) and evaluate each of the given statements step-by-step:

1. Understanding Statement 1: "It is a Public Limited Government Company."
IREDA was established in the year 1987 as a public limited government company. It is registered under the Companies Act, 1956 (now the Companies Act, 2013) and functions as a Mini Ratna (Category-I) Government of India Enterprise. It is under the administrative control of the Ministry of New and Renewable Energy (MNRE). Therefore, Statement 1 is correct.

2. Understanding Statement 2: "It is a Non-Banking Financial Company."
IREDA operates as a non-banking financial institution. It is registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI) under the classification of an "Infrastructure Finance Company" (IFC). Its primary role is to promote, develop, and extend financial assistance for setting up projects relating to new and renewable sources of energy. Therefore, Statement 2 is correct.

Since both statements 1 and 2 are correct, the correct answer is indeed "Both 1 and 2".