INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC 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 set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalisation in 1949. RBI has a monopoly of note issue.
Detailed explanation-3: -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-4: -state bank of india is the example of banking and financial services company.
Detailed explanation-5: -RBI, also known as the Reserve Bank of India, is the statutory body that acts as the country’s central bank that handles the country’s economic stability and growth. It manages all the significant monetary policies of the government.