Consider the following statements in context with the Capital to Risk Assets Ratio (CRAR) Phase-I implemented by RBI in India:

  1. CRAR Phase-I was implemented by RBI during 1992-93
  2. It takes into account the risk on account of Balance Sheets assets, non-funded items.
  3. All aspects of management of a banking organization were incorporated in it

Which among the above statements is/ are correct?

[A] Only 1 is correct
[B] Only 1 & 2 are correct
[C] Only 2 & 3 are correct
[D] All are correct

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