BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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statutory corporation.
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company limited by guarantee.
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company limited by shares.
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unlimited company.
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Detailed explanation-1: -Reserve Bank of India is a statutory body. RBI was established through Reserve Bank of India Act, 1935. RBI is not a constitutional body. Although RBI has considerable institutional independence, it is under the control of the Ministry of Finance, Government of India after it was nationalised in 1949.
Detailed explanation-2: -Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
Detailed explanation-3: -Reserve Bank of India (RBI) is the central bank of India. It was established in 1935. RBI handles the monetary policy of India to maintain price stability as it is important for the sustained growth of the economy.
Detailed explanation-4: -The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934. RBI is a statutory body because it was established by an Act. Hence, the Governor of RBI is not a Constitutional post.
Detailed explanation-5: -SBI is an Indian multinational, public sector banking and financial services statutory body, fostering the nation’s 2.6 trillion-dollar economy and serving the hopes of its vast population. For SBI, the interests of the common man havealways remained at the core of its business.