With Reference to the Presidential Election in India, Consider the Following

With reference to the Presidential election in India, consider the following statements:
1) The nomination paper of a candidate for the Presidential election should be signed by at least 50 electors as proposers and another 50 as seconders.
2) The prescribed security deposit in the Presidential election is Rs.25,000. Which of these statements is/are correct?

A) 1 only
B) 2 only
C) Both 1 and 2
D) Neither 1 nor 2