With reference to the Indian economy, consider the following statements: 1. 'Commercial Paper' is a short-term unsecured promissory note. 2. 'Certificate of Deposit' is a long-term instrument issued by the Reserve Bank of India to a corporation. 3. 'Call Money' is a short-term finance used for interbank transactions. 4. 'Zero-Coupon Bonds' are the interest bearing short-term bonds issued by the Scheduled Commercial Banks to corporations. Which of the statements given above is/are correct?

1. Commercial Paper — Correct. It is a short-term unsecured promissory note issued by companies and other eligible entities for working capital needs.

2. Certificate of Deposit — Incorrect. A CD is a short-term negotiable money market instrument issued by scheduled commercial banks and select financial institutions, not a long-term instrument issued by RBI to a corporation.

3. Call Money — Correct. It is very short-term finance (generally overnight) used mainly for interbank transactions.

4. Zero-Coupon Bonds — Incorrect. These are issued at a discount and redeemed at face value, so they are not interest-bearing; also the description about SCBs issuing short-term bonds to corporations is wrong.

Hence, statements 1 and 3 only are correct.