Consider the following statements regarding the Nakarattar (Tamil Nadu) banking system:
1. The Nakarattars relied on caste-based social relationships for their financial transactions.
2. A government-controlled central bank regulated their banking system to maintain public confidence.
3. Communal institutions played a crucial role in the accumulation and distribution of capital among the Nakarattars.
Which of the above statements are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1, 2, and 3