The correct option is "2 and 3 only" because in India, credit rating agencies (CRAs) are actually regulated by the Securities and Exchange Board of India (SEBI), not the Reserve Bank of India (RBI). This is crucial for understanding the framework of financial regulation in the country. Additionally, ICRA is indeed a public limited company, while Brickwork Ratings is recognized as an Indian CRA, both contributing to the country's credit rating landscape and serving the capital markets effectively. Thus, statements 2 and 3 are correct, reflecting the regulatory structure and entity classification of these organizations in the Indian financial environment.