Consider the following statements regarding Payment Banks:
1. Payment Banks can carry out all banking operations, including advancing loans and issuing credit cards.
2. They were set up based on the recommendations of the Nachiket Mor Committee.
3. Payment Banks can establish subsidiaries to engage in non-banking financial activities.
Which of the statements given above is/are correct?
1
1 and 2 only
2
2 only
3
1 and 3 only
4
1, 2, and 3