Explanation:

The Overseas Citizens of India (OCI card)

• The MHA defines an OCI as a person who was a citizen of India on or after January 26, 1950; or was eligible to become a citizen of India on that date; or who is a child or grandchild of such a person, among other eligibility criteria.
• According to Section 7A of the OCI card rules, an applicant is not eligible for the OCI card if he, his parents or grandparents have ever been a citizen of Pakistan or Bangladesh.

Benefits 

• The OCI card gives them a visa free travel to India.
• The OCI card, among other benefits, allows multiple entry, multi-purpose life long visa to an Indian-origin foreign national to visit India. 
• Under the provisions of the OCI card, which gives the cardholder lifelong visa to India, those below 20 years and above 50 years need to renew their OCI card every time they have their passport renewed.

Limitations: OCI cardholders do not get the right to vote, cannot hold government service and buy agricultural land.
Hence both statements are correct.