What is true about Repo rate?

Question

Consider the following statements regarding Repo rate:

1. It is the rate at which RBI lends money to Commercial Banks generally against Government Securities
2. It is the rate at which RBI borrows money from Commercial Banks generally against Government Securities
3. It is the rate at which Commercial Banks keep Deposits with RBI

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. 3 only
4. 1,2 and 3