In India, which of the following can trade in the corporate bonds and government securities? 1. Insurance companies 2. Pension funds 3. Retail investors. Select the correct answer using the code given below:

All three — insurance companies, pension funds, and retail investors — can trade in corporate bonds and government securities in India. Insurance companies and pension funds are major institutional investors in these markets as part of their long-term investment strategies. Retail investors can also access G-Secs through the RBI Retail Direct platform launched in 2021, and corporate bonds through stock exchange platforms. SEBI has also made provisions to enable retail participation in debt markets.