16. Reserve Bank of India was established through special act passed in Parliament in 1934
with the objective to regulate the issue of Banknotes, to secure monetary stability in the
country and to meet the economic challenges by modernising the monetary policy
framework.
6M
a) Identify the type of public sector enterprise discussed above.
b) Explain in detail four features of these public sector enterprises
c) Also mention two merits and two limitations for these PSES
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Answer: Statutory corporations: Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with Government department
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