Skip to main content

Business Environment – Statutory Bodies and Corporations

Business Environment – Statutory Bodies and Corporations:

Statutory companies are known as Statutory Bodies and Corporations or Public Corporations. These are the public bodies operated by the statute. For e.g. – Reserve Bank of India (RBI), Life Insurance Corporation (LIC), Employee State Insurance Corporation etc.  In simple terms, it means a company or a body set up by statute.
The essential features of a public corporation are as under
  1. Management: Statutory Corporations are managed by the Board of Directors, appointed by the government.
  2. Accountability: Statutory Corporations are account and audited by the Comptroller & Auditor of India (CAG) as they are accountable to public & parliament. This ensures public accountability.
  3. No Interference: In day to day working of the corporation, political interference is not allowed because Statutory Corporations have its own pattern.
  4. Objectives: It works on profit objective and as such its activities are commercial in nature.
  5. Answerability: It is answerable to the Parliament as regards to its objectives.
  6. Capital Contribution: Its capital is wholly owned by the Government. The public is not the shareholders of this type of organization as compared to that of Government Company.
For more Business environment notes click CS Foundation online classes .
Learn more for cs course:

For a Free Demo call @ +91-88009-99280

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Last Minute Tips to Crack SSC CGL 2019-20 (Tier-I) Exam

Last-Minute Tips to Crack SSC CGL 2019-20 (Tier-I) Exam 1. Don’t read any new topic at the last moment · Try to avoid studying any new topic at the last moment. Just revise what you have already studied. 2. Don’t forget your Admit Card, Photograph and ID Proof · Take a print out of your admit card and original photo identity proof, 1 photo and photocopy of the ID proof. Reach the examination center before time to avoid any last-minute trouble. 3. Maintain your Speed & Accuracy and Maximize your Score · Speed and Accuracy are two important factors to crack any competitive exam. Speed will help in maximizing the attempts while accuracy will ensure that you don’t end up losing marks as the negative marking of 0.5 marks for wrong answers is there. 4. Attempt according to the strategy you followed in the mock tests · Make sure you attempt the easier section first. The exam should be attempted with the same strategy you fol
4 comments
Read more

Magnetic and non-magnetic material Class 6 Science

Magnetic and non-magnetic material  Class 6 Science A magnet is a substance that is drawn to certain magnetic materials like iron, cobalt, and nickel. Magnets have the ability to draw iron to them. Natural magnets are rocks that naturally draw iron. Non-magnetic materials include things like wood, rubber, coins, feathers, leather, etc. that are not drawn to iron. Magnet characteristics It pulls magnetic materials, such as iron. The magnet's two ends are referred to as its poles. The magnet's diametrically opposed poles are drawn together. Heating, hammering, or dropping causes it to lose its characteristics. On the basis of properties types of Magnets Temporary magnets are those magnets that are magnetic for only a little duration. Typically, iron, cobalt, or nickel are used to make them. When they are close to the powerful magnet, they act like a magnet. When they are yanked away from the powerful magnet, they stop being magnetic. Permanent magnets are magnets that have magne
Post a Comment
Read more

Why is Hindi Day celebrated on 14 September?

Why is Hindi Day celebrated on 14 September? After independence, the Government of India set a goal to give an ideal form to the mother tongue of the country and set a target for grammar and orthography using the Devanagari script to bring standardization in writing. Subsequently, on September 14, 1949, the Constituent Assembly decided by a vote that Hindi would be the official language of India. To propagate the importance of this decision and to spread Hindi in every region, India is celebrating Hindi Day every year from 1953 to 14 September, at the request of Rashtrabhasha Prachar Samiti, Wardha. Apart from this, 14 September is also the birthday of Rajendra Singh, who worked tirelessly to make Hindi the official language of India. Hindi Day is observed every year on 14 September to mark the importance of the Hindi language in the country. The Hindi language is one of the oldest languages, which derives most of its academic vocabulary from the Sanskrit language written in the Deva
Post a Comment
Read more