Consider the following statements about the Special Drawing Facility (SDF):

1. It makes provision of short-term loans by the RBI to the State Governments/UT Governments against Government Securities.

2. Interest rate charged by the RBI on it is the same as Repo Rate.

3. It can be availed by the State Governments/UT Governments only after exhausting the normal Ways and Means Advances limit.

Which of the statements given above is/are correct?

1. (a) 1, 2 and 3
2. (b) 1 onlyCorrect answer
3. (c) 1 and 3 only
4. (d) 2 and 3 only

Answer: (b)