Comprehension Passage
Direction: Which of the following phrases given below should replace the phrase printed in bold to make the sentence grammatically correct. If you think that the sentence is correct as it is, choose the option, "No correction required" from the options as your answer. 

Of late, both India and China have been seeing a slowdown in the credit market.  

1
Off late
2
Of lately
3
Of recently
4
No correction required

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