Consider the following statements Statement I Katchatheevu is an uninhabited island of Bangladesh in...........

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Consider the following statements

Statement-I: Katchatheevu is an uninhabited island of Bangladesh in the Indian Ocean.
Statement-II: Katchatheevu Island was transferred from India to Bangladesh in 1974 by an agreement signed by the then Prime Ministers of both countries.

Select the correct statement.

Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I.

Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I.

Both Statement-1 and Statement-II are incorrect.

Statement-1 is incorrect but Statement-II is correct.

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Explanation:

Recently, the Tamil Nadu Chief Minister revived the debate over the Katchatheevu, a longstanding point of contention between India and Sri Lanka, particularly with regard to fishing rights and sovereignty over the uninhabited island.

Historical Background

Katchatheevu is a 285-acre uninhabited speck in the Palk Strait, between India and Sri Lanka, an island located about 14 nautical miles off Rameswaram,India.
In 1974, Prime Ministers Indira Gandhi of India and Sirima R.D. Bandaranaike of Sri Lanka signed an agreement that recognized Katchatheevu as part of Sri Lanka's territory, resulting in a change of ownership. Hence, statement I and Statement II are incorrect.
The agreement also allowed Indian fishermen to fish around the island, dry their nets on it, and permitted Indian pilgrims to visit the Catholic shrine located on the island.

Fishing Rights and Livelihood

Fisherfolk from both India and Sri Lanka have historically used Katchatheevu for fishing. Though this feature was acknowledged in the 1974 agreement, the supplemental pact was signed in 1976.
The 1976 agreement was aimed at defining maritime boundaries and exclusive economic zones for both countries, while also imposing restrictions on fishing vessels and fishermen from either nation, prohibiting fishing in each other's waters without explicit permission from either of the two countries.

Hence option 3rd is correct.