The Corporation was established by an Act of Parliament which received the assent of the President on 18th June, 1956. The Act came into force on 1st July 1956 and the Corporation began to function w.e.f 1st September, 1956. The Corporation is an autonomous body and has necessarily to run on sound business principles. The Corporation has been fully carrying out the role assigned to it and justifying the confidence of the public by offering adequate security at reasonable cost, dependable service, economic management and favourable returns to the nation at large.
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