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Question
The Reserve Bank of India operates under a special law enacted by the parliament. Under which category does this organization fall?
Options
Chartered Company
Statutory Company
Registered Company
Unlimited Company
MCQ
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Solution
Statutory Company
Explanation:
A statutory company is established through a specific Act of Parliament or State Legislature. The Reserve Bank of India (RBI) was created under the RBI Act of 1934, hence, it fits into this category.
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