Question

state bank of india is the example of ______ company​

Answer 1

Answer:

state bank of india is the example of banking and financial services company.

please mark as the brainliest answer.

Answer 2

Complete question:

State bank of India is the example of ______ company​

1) Chartered

2) Statutory

3) Foreign

The state bank of India is an example of a 2) Statutory company​.

Statutory company​:

• A statutory corporation is established by a Special Act of Parliament. This is a company that provides valuable services to the general public.
• A statutory company is generally formed to help people but instead to profit. A statutory company can be established by the Central or State Legislature Statutory Corporation.
• Despite the fact that statutory corporate entities have limited liability, limited ownership is not always required.

• They are, nevertheless, required to submit yearly accounts to the Legislature-Parliament.

The following are some well-known statutory firms:

• The Reserve Bank of India is a central bank in India.
• The Bank of India ( SBI).
• Industrial Finance Corporation.
• India's Food Corporation
• The Life Insurance Corporation of India is a government-owned insurance company in India.

Even though the services offered by statutory corporate entities vary, they are frequently formed to provide a type of public function such as insurance, water, gas, or electricity.