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प्रश्न
Why statutory companies are created?
लघु उत्तर
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उत्तर
Statutory companies are established by a specific Act of Parliament or State Legislature to promote national interests. They are established to offer important services such as banking, insurance, transportation, and public utilities, which require strong government oversight. Unlike conventional corporations, they have their own statutes and special authorities and privileges. Examples are the Reserve Bank of India and the Life Insurance Corporation of India.
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