With reference to Reserve Ratios, consider the following statements:
1. The main purpose of these ratios is to control inflation in India.
2. All scheduled banks in India are required to maintain CRR with RBI.
3. CRR does not contribute to economic growth while SLR can contribute to economic growth.
Which of the statements given above is/are correct?
1
3 only
2
1 and 2 only
3
2 and 3 only
4
1, 2 and 3