Which of the following statements about "Customer Identification Procedure (CIP)" are correct?
1. CIP must be performed during account-based relationship initiation.
2. CIP is mandatory for transactions below ₹50,000.
3. CIP is required if there are doubts about the authenticity of customer identification.
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
All of the above
5
None of the above