The option "1 and 3 only" is correct as it accurately matches figures with their respective contributions to the Indian socio-political landscape during the British colonial period. Radhakanta Deb was indeed the first President of the British Indian Association, founded in 1851 to represent Indian interests to the British government. Surendranath Banerjee, on the other hand, founded the Indian Association in 1876, which aimed to promote the political rights of Indians and foster national consciousness. However, Gazulu Lakshminarasu Chetty, while a significant figure in the South Indian nationalist movement, is not the founder of the Madras Mahajan Sabha; it was actually founded by other leaders, leading to the mismatch in that pair. Understanding these associations is crucial for appreciating the early movements of political awakening in India, as highlighted in NCERT materials and other UPSC reference texts.