Consider the following statements : The functions of commercial banks in India include 1. Purchase and sale of shares and securities on behalf of customers. 2. Acting as executors and trustees of wills. Which of the statements given above is/are correct?

1. The question asks about the functions of commercial banks in India. 2. Statement 1: Includes Purchase and sale of shares and securities on behalf of customers. Commercial banks often provide brokerage services, buying and selling securities for their clients through their investment or subsidiary arms. This is a recognized agency function. This statement is correct. 3. Statement 2: Includes Acting as executors and trustees of wills. Banks, particularly through their trust departments, can be appointed to act as executors (administering the estate of a deceased person as per their will) and trustees (managing assets held in trust). This is another recognized function. This statement is correct. 4. Since both statements describe valid functions performed by commercial banks (often through specialized departments or subsidiaries), the answer is (C) Both 1 and 2.