Consider the following statements about the recommendations of the Khan Committee:

1. The Khan Committee was set up by the Ministry of Finance to harmonize the roles of the Development Finance Institutions (DFIs) and banks.

2. The Committee argued that DFIs should be given banking licences eventually and until then they should be allowed to establish 100 per cent banking subsidiaries, while they continue to play their present role.

Which of the statements given above is/are correct?