Business Studies

Which of the following refers to a corporate body created by the Parliament of State Legislature by a special Act which defines its powers, functions and pattern of management?


Answer & Solution

Statutory corporation


SOLUTION
A statutory corporation is a corporation created by the state. Their precise nature varies by jurisdiction, thus, they might be ordinary companies/corporations owned by a government. Examples: Reserve Bank of India, State Bank of India, Life Insurance Corporation, Unit Trust of India, Employees State Insurance Corporation, Oil and Natural Gas Corporation etc. are some examples of statutory corporations
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Single Correct Medium Published on 18th 08, 2020
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