Consider the following statements:<br/>1. The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities.<br/>2. Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments.<br/>3. Treasury bills are issued at a discount from the par value.<br/><br/>Which of the statements given above is/are correct?

1. Incorrect. RBI acts as banker and debt manager for both the Government of India and State Governments; it manages and services State Development Loans (SDLs) too.

2. Correct. Treasury Bills (T-bills) are short-term instruments issued only by the Government of India; State Governments do not issue treasury bills.

3. Correct. T-bills are zero-coupon instruments issued at a discount to face/par value and redeemed at par.

Hence, statements 2 and 3 only are correct.