Question

What is meant by statutory corporation? State two examples?

Answer 1

Explanation:

1. Statutory corporations are body corporates formed by a special act of parliament or by the central or state legislature. ... Its powers, objects, limitations etc. are also decided by the act of the legislature. Examples include Air India, State Bank of India, Life Insurance Corporation of India etc.

Here

are two example of that

1. Oil and natural gas corporation
2. Life insurance corporation

Answer 2

Answer:

A statutory corporation is an autonomous corporate body created by a Special Act of Parliament or state legislature with defined functions, powers, duties, immunities etc. It is also called 'public corporation'. State helps the statutory corporations by subscribing the full capital and it is fully owned by the state.RBI (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.