Is PNB a statutory corporation?

Is PNB a statutory corporation?

Punjab National Bank, as distinguished from the Punjab National Bank Ltd., is not a company incorporated pursuant to the provisions of the Companies Act, but is a body created by statute, namely, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. It is wholly owned by the Central Government.

Is Canara Bank a statutory corporation?

Canara Bank is the fourth largest nationalised bank in India. It is under the ownership of the Ministry of Finance, Government of India.

Is PSU a statutory body?

as has been held in a case relating to the Council of Scientific and Industrial Research, which is a registered society and non-statutory body.”

Is milma a public sector company?

The Kerala Co-operative Milk Marketing Federation (KCMMF), doing business as Milma, as a state government cooperative society in 1980 with its head office in Thiruvananthapuram….Kerala Co-operative Milk Marketing Federation.

Is SBI a statutory corporation?

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.

Why is SBI a statutory corporation?

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra….State Bank of India.

Is BSNL a statutory corporation?

Bharat Sanchar Nigam Limited (d/b/a BSNL) is a government owned telecommunications service provider headquartered in New Delhi, India….Bharat Sanchar Nigam Limited.

Is Railway a statutory corporation?

Indian Railways (IR) is a statutory body under the ownership of Ministry of Railways, Government of India that operates India’s national railway system. It manages the fourth largest national railway system in the world by size, with a total route length of 67,956 km (42,226 mi) as of 31 March 2022.

How many board corporations are there in Kerala?

List of state PSUs in Kerala

What are the corporations in Kerala?

Municipal Corporations

Which is example of statutory corporation?

Reserve Bank of India, State Bank of India, Life Insurance Corporation, Unit Trust of India, Employees State Insurance Corporation, Oil and Natural Gas Corporation etc. are some examples of statutory corporations.

Is RBI a statutory corporation?

The Reserve Bank of India (RBI) is the central bank of India whose primary function is to manage and govern the financial system of the country. It is a statutory body established in the year 1935 under the Reserve Bank of India Act, 1934.

How many enterprises are there in Kerala under Department of industries?

Most of state PSUs units are under Department of Industries & Commerce (85 enterprises). The largest enterprises (Based on 2005 figures) Kerala State Beverages Corporation.

Who is a statutory corporation answerable to?

A statutory corporation is answerable either to parliament legislature or state assembly whosever creates it. Parliament has no right to interfere in the working of statutory corporations. It can only discuss policy matters & overall performance of corporations.

What is the Board of directors of statutory corporations?

Professional management: Board of directors of statutory corporation consists of business experts & the representatives of various groups such as labor, consumers nominated by the government.

What are the merits of statutory corporations?

Merits of Statutory Corporations. The main advantages of the statutory corporation are: Initiative & flexibility: Operations & management of a statutory corporation is done independently, without any government’s interference, with its own initiative & flexibility.