Consider the following statements regarding Regional Rural Banks (RRBs):
1. The shareholding pattern of RRBs among the Central Government, Sponsor Bank, and State Government is 40:40:20, respectively.
2. Regional Rural Banks are regulated by the RBI and supervised by the National Bank for Agriculture and Rural Development (NABARD).
3. The RBI has set a Priority Sector Lending (PSL) target of 75% of total outstanding advances for RRBs as against 40% for Scheduled Commercial Banks.
How many of the above statements are correct?
1
Only one
2
Only two
3
All three
4
None