Given below are two statements:

Statement (I): The National Accreditation Board, as per NEP report of 2016, must oversee the entire process of accreditation, set standards and define guidelines for the purpose.

Statement (II): It can license the private agencies (preferable non-profit ones), who will do the actual evaluation of academic institutions.

In light of the above statements, choose the most appropriate answer from the options given below.

1
Both Statement (I) and Statement (II) are true.
2
Both Statement (I) and Statement (II) are false.
3
Statement (I) is true but Statement (II) is false.
4
Statement (I) is false but Statement (II) is true.

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