On 28th December, 1885, the Indian National Congress was founded at Gokuldas Tejpal Sanskrit College in Bombay, with 72 delegates attending. Among these people, Womesh Chunder Banerjee was elected the first President. The Safety Valve Theory regarding the formation of the Indian National Congress emerged from a biography of A.0. Hume written by William Wedderburn. An early decision was that the President would not be from the same region where the session was to be held. So, only the (2) and (4) statements are true about INC