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"No fixed geographical location" is a distinctive feature of:

Solution

✅ Correct Option: 1,2

NCERT describes the money market as having no physical location. It also states that the Primary Market, also called the New Issues Market, has no fixed geographical location. This makes Option 3 conceptually feasible as well because 'Primary Market' and 'New Issues Market' refer to the same market. However, strictly following NTA's official answer key, Options 1 and 2 are accepted.

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