Which of the following statements is/are correct?
1. NIFTY is based upon 50 firms in India.
2. NIFTY is governed and regulated by the Reserve Bank of India.
3. NIFTY does not trade in mutual funds.
Select the correct answer using the code given below :

Options

A. 1 only
B. 2
C. 3 only
D. 1 and 3