Question

Name two enterprises which belong to statutory corporations.

Answer 1

• These corporations are wholly owned by the state, with ultimate financial responsibility (both profit and loss) lying with the government. Examples of statutory corporation are State Bank of India, Food Corporation of India, etc.
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Answer 2

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 departments. ... It is a corporate person and has the capacity of acting in its own name.

For E.g. RBI (reserve bank of india), State Bank of India