Option 1: The statement that the permanent secretariat of the Organisation of Islamic Cooperation (OIC) is located in Jeddah is correct. The OIC`s permanent secretariat is indeed headquartered in Jeddah, Saudi Arabia.
Option 2: The statement that the OIC endeavours to safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony among various people of the world is correct. This is one of the main objectives of the OIC, as stated in its charter.
Option 3: The statement that the OIC is the largest intergovernmental organization in the world is incorrect. While the OIC is a significant organization, it is not the largest intergovernmental organization in terms of membership. Other intergovernmental organizations like the United Nations (UN) have more member countries.
Option 4: The statement that the OIC has consultative and cooperative relations with the UN is correct. The OIC maintains relations with the UN and other international organizations through its observer status and participates in various forums and meetings.
In summary, the correct answer is option 3, as the OIC is not the largest intergovernmental organization in the world.