In the context of Indian economy, which of the following is/are the purpose/purposes of 'Statutory Reserve Requirements'? 1. To enable the Central Bank to control the amount of advances the banks can create 2. To make the people's deposits with banks safe and liquid 3. To prevent the commercial banks from making excessive profits 4. To force the banks to have sufficient vault cash to meet their day-to-day requirements Select the correct answer using the code given below.

1. Statutory Reserve Requirements (SRR) in the Indian economy primarily refer to the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR), which are tools used by the Central Bank (Reserve Bank of India, RBI). 2. Statement 1 is correct. A key purpose of SRR, particularly CRR, is to enable the Central Bank to control the amount of advances the banks can create. By changing these reserve ratios, the RBI influences the amount of funds banks have available for lending, thus controlling credit creation and money supply in the economy. This is a primary monetary policy objective. 3. Statement 2: While SLR mandates holding safe and liquid assets (like government securities), which contributes to the safety of deposits, and CRR held with RBI also adds safety, the *primary* stated purpose of SRR as a monetary tool is often considered credit control rather than just ensuring deposit safety, although they are related. 4. Statement 3: Preventing commercial banks from making excessive profits is not the direct or intended purpose of SRR. Profitability is influenced, but not the target. 5. Statement 4: SRR (CRR held with RBI, SLR in specified assets) is distinct from the operational requirement for banks to hold sufficient vault cash for day-to-day requirements, which banks manage based on their business needs. Considering the primary role of SRR as a monetary policy instrument, statement 1 is the most accurate representation of its core purpose.