Which of the following statements is/are true with respect to Moral Suasion?

1. It implies to pressure exerted by the RBI on the Indian banking system without any strict action for compliance of the rules.

2. It helps in restraining credit during inflationary periods. 

3. Under moral suasion central banks can issue directives, guidelines and suggestions for commercial banks regarding reducing credit supply for speculative purposes.

4.It includes psychological means and informal means of selective credit control.