Q. Consider the following statements:1. Global Trust Bank has been amalgamated with the Punjab National Bank 2. The second report of the Kelkar Committee dealing with direct and indirect         taxes has maintained its original recommendations including the abolition of       exemptions relating to housing loans.Which of the statements given above is/are correct ? 

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2