Give three examples of statutory companies functioning in india
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1. Generally financed by the central or state government.
2. May borrow funds from the public and government organisation through statutory sources.
3. They have separate legal entity.
4. They have to frame their own policies and procedures within the scope of state legislature.
5. Provide better services to public and make adequate profit.
6. They are autonomous in their functioning, thus, they enjoy operational flexibility.
7. They can recruit and appoint their employees with their service condition, since they are a corporate body.
8. They have to follow the special statute strictly.
9. There is less government interference in matters of the corporation.
10. The members of the corporation have limited liability.
2. May borrow funds from the public and government organisation through statutory sources.
3. They have separate legal entity.
4. They have to frame their own policies and procedures within the scope of state legislature.
5. Provide better services to public and make adequate profit.
6. They are autonomous in their functioning, thus, they enjoy operational flexibility.
7. They can recruit and appoint their employees with their service condition, since they are a corporate body.
8. They have to follow the special statute strictly.
9. There is less government interference in matters of the corporation.
10. The members of the corporation have limited liability.
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Answer:
The three examples are Reserve Bank of India, State Bank of India, Life Insurance Corporation
Explanation:
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