Consider the following statements:
Statement I: In India, the RTGS and NEFT payment systems are owned and operated by National Payment Corporation of India.
Statement II: National Payment Corporation of India is an entity promoted by banks.
Which of the following is correct in respect of the above statements?
1
Both statement I and statement II are correct and statement II is the correct explanation for statement I
2
Both statement I and statement II are correct and statement II is not the correct explanation for statement I
3
Statement I is incorrect but statement II is correct
4
More than one of the above
5
None of the above