Direction In the question given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements, which one of the following is correct?
Assertion (A) All the mutual funds must get registered with SEBI.
Reason (R) Securities Exchange Board of India (SEBI) is the regulatory body for all the mutual funds.
1
Both (A) and (R) are true and (R) is the correct explanation of (A)
2
Both (A) and (R) are true, but (R) is not the correct explanation of (A)
3
(A) is true, but (R) is false
4
(R) is true, but (A) is false