Consider the following statements. 1. UTI is established by an Act of Parliament in 1964. So, UTI does not come under the SEBI regulations for mutual funds. 2. Mutual fund organisations can invest their mobilised funds abroad. Which of the statement(s) given above is/are correct?

The correct answer is: C. Both 1 and 2

UTI was established by an Act of Parliament in 1964, and is therefore a statutory body. SEBI regulations for mutual funds apply to all mutual funds, including UTI, except for those provisions that are specifically exempted for UTI by the SEBI Act.

Mutual fund organisations can invest their mobilised funds abroad, subject to certain conditions. These conditions are laid down in the SEBI regulations for mutual funds.

Statement 1 is correct because UTI is a statutory body. Statement 2 is correct because mutual fund organisations can invest their mobilised funds abroad, subject to certain conditions. Therefore, both statements are correct.

Here is a brief explanation of each option:

• Option A: Only 1 is correct. This option is incorrect because Statement 2 is also correct.
• Option B: Only 2 is correct. This option is incorrect because Statement 1 is also correct.
• Option C: Both 1 and 2 are correct. This option is correct because both statements are correct.
• Option D: Neither 1 nor 2 is correct. This option is incorrect because both statements are correct.