Question

The National Co-operative Development Corporation (NCDC) is

• A. a statutory corporation
• B. a registered society
• C. a council under ministry of Co-operation, Govt. of India
• D. a federation of all State Co-operative Unions

Answer 1

Answer:

A. a statutory corporation

A statutory corporation is a legal entity that is created by a special act of Parliament or state legislature. These corporations are independent and have their own functions, powers, duties, and immunities. They are accountable to the legislature that established them. 

Here are some features of statutory corporations: 

• Government funding: The government pays for all of the corporation's finances. 

• Legislative act: The legislative act that establishes the corporation determines its powers, objectives, and constraints. 

• Focus on a single subject: Statutory corporations are important to governance and focus on a single subject matter. 

• Quick decision-making: Statutory corporations have less file work and formalities than other types of organizations, which allows for quicker decision-making. 

• Complete administration control: Statutory corporations have complete control over their administration. 

Some examples of statutory corporations in India include: Air India, State Bank of India, Life Insurance Corporation of India, National Human Rights Commission (NHRC), and National Commission for Minorities (NCM).