Evaluate the following statements regarding the RBI's view on inflation and economic risks as highlighted in the 2023-24 report:

1. The RBI identified climate shocks as a significant risk to the inflation outlook.

2. The report forecasts an average basis point increase in inflation to 5.4 for the fiscal year 2024-25.

3. High reliance on bulk deposits was noted as a key financial stability concern.

Which of the statement(s) given above is/are true?

1
2 Only
2
1 and 3
3
1 and 2
4
2 and 3

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