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Answer the question on the basis of the information given below:

One of the functions of the RBI is to mobilize funds for the Govt of India by issuing securities. The following table shows details of funds mobilized during the period July $2002$-July $2003.$ Notice that on each date there were two rounds of issues, each with a different maturity.

Which of the following is true?

  1. The second round issues have the higher maturity than the first round for all dates.
  2. The second round issues of any dates has a lower maturity only when the first round notified amount exceeds that of the first round.
  3. On at least one occasion, the second round issue having lower maturity received a higher number of competitive bids.
  4. None of the above three is true.
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