(i) Which type of organisation is this? (ii) Give any three Features of this organisation.
Study the following case/situation and express your opinion
A central government passes a statute in the parliament and forms a business organisation which is having autonomy in administration and this organisation is answerable to legislature.
(i) Which type of organisation is this?
(ii) Give any three Features of this organisation.
(iii) Give any one example of this type of organisation.
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1 Answers
(i) It is a Statutory Corporation.
(ii) Corporate body, No political interference, Own staffing system are the features of Statutory Corporation.
(iii) Life Insurance Corporation of India is the example of Statutory Corporation.
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