In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select the correct answer using the code given below:

In India, Corporate Bonds and Government Securities (G-Secs) can be traded by a wide range of participants. Insurance companies are major institutional investors and routinely invest in corporate bonds and G-Secs as part of their investment portfolio under IRDAI norms. Pension funds, including the National Pension System (NPS) and EPFO, are statutorily allowed to invest in both corporate bonds and government securities. Retail investors can also participate — RBI launched the Retail Direct Scheme in November 2021 enabling individual investors to directly buy G-Secs, and they can also buy corporate bonds through the stock exchanges. Hence all three categories can trade in these instruments.