A Statutory Body is an institution or agency established by a specific law (statute) passed by the legislature. Unlike a constitutional body which derives its power directly from the Constitution, a statutory body derives its power from a legislative act.
The Insurance Regulatory and Development Authority (IRDA) is which type of body ?
Asked in OPSC CS Prelims 2020 · Topic: Money & Banking (Non-Banking Financial Companies (NBFCs): Types, Regulation, and Significance)
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