Statement 1: It is correct. The development of the Bhakti cult first began in South India in the 7th-8th century in order to bridge the gap between the Shaivas and the Vaishnavas. It stood for intense personal devotion and complete self-surrender to God. The roots of the Bhakti Movement can be traced to the Upanishads, the Puranas and the Bhagavad Gita. Shankaracharya is reputed to have been the first and principal exponent of this reform movement.
Statement 2: It is correct. The Bhakti movement became popular among the common masses as its teachings were preached in the form of hymns in various popular languages. In this accessible form, Bhakti ideas were spread among wide strata of the population and the hymns frequently became folk songs. Amongst the leaders of the Bhakti movement, Ramananda, Kabir, Ramanuja, Sri Chaitanya, Nanak, etc. were prominent.