In the Money market which of the following statement's is/are incorrect?
1. The call money market deals in short-term finance repayable on demand, with a maturity period varying from one day to 14 days.
2. Treasury bills are instruments of short-term borrowing by the Government of India, issued as promissory notes under discount.
3. A reduction in the repo rate helps banks to get money at a cheaper rate.
4. Money market mutual funds invest money in specifically, high-quality and very short maturity based money market instruments.