Consider the following statements regarding the Industrial Revolution in Britain: I. There was availability of banks which could loan money to set up industries. II. There was a good transport network. Which of the statements given above is/are correct?

Both statements are correct. The Industrial Revolution in Britain was supported by a well-developed banking and financial system (including the Bank of England, established in 1694) which provided loans and credit to entrepreneurs to set up industries. Britain also had a good transport network of rivers, canals, ports, and later railways, which enabled efficient movement of raw materials and finished goods, contributing significantly to industrial growth.