Consider the following statements with respect to the Foreign Exchange Reserves of India.
1. India is the fourth-largest foreign exchange reserves holder in the world.
2. Gold constitutes the largest component of the foreign exchange reserves.
3. Under the Reserve Bank of India Act, RBI is prohibited from investing Foreign exchange reserves in debt instruments.
Which of the statements given above is/are correct?
1
1 and 2 only
2
2 and 3 only
3
1 only
4
1, 2 and 3