Statement 1 is incorrect. Post-independence, the first set of gallantry awards were instituted on 26th January, 1950, but there were six awards instituted, not three. These included the Param Vir Chakra, Maha Vir Chakra, Vir Chakra (for bravery in the face of the enemy), and Ashoka Chakra Class I, Ashoka Chakra Class II, and Ashoka Chakra Class III (for bravery other than in the face of the enemy). Statement 2 is incorrect. While Ashoka Chakra Class I, II, and III were indeed instituted on that date, they were three out of the six awards, specifically the peacetime series. Calling them "the first three gallantry awards" is misleading, as the wartime awards (PVC, MVC, VrC) were equally "first" (instituted on the same date) and are primarily associated with the term "gallantry" in combat contexts.