Answer: (b)

Explanation:
The Peninsular Block of India is an ancient, stable part of the Indian shield composed mainly of hard crystalline rocks. Because of its long geological stability and uplift–subsidence history, certain characteristic features are associated with it.

Statement 1 is correct: Parts of the western coast show evidence of tectonic submergence, leading to the formation of features like rias and the narrow, submerged continental margin along the western coast. This is linked to the rifting and faulting processes associated with the Peninsular Block during the break-up of Gondwana and later tectonic adjustments.

Statement 2 is correct. The Peninsular Block contains several residual and relict hill ranges, formed due to long periods of erosion and denudation. The Veliconda Hills and Mahendragiri Hills are examples of such ancient erosional remnants.

Statement 3 is incorrect: Deep, V-shaped valleys are typically associated with youthful, fast-eroding river systems in mountainous regions (like the Himalayas), not the Peninsular Block. Peninsular rivers generally form broad, shallow valleys due to the region's hard rock structure and long erosional history.