Which of the following statements is/are correct regarding the "Master Direction on the Treatment of Wilful Defaulters and Large Defaulters" issued by the Reserve Bank of India (RBI)?

1. Banks and NBFCs are required to examine the 'wilful default' aspect in all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above.
2. The process of classifying a borrower as a wilful defaulter must be completed within 6 months of the account being classified as NPA.
3. The RBI has mandated that the bar on additional credit facilities to wilful defaulters would be effective for 5 years after the name of the wilful defaulter has been removed from the List of Wilful Defaulters (LWD).