Directions : Study the following information carefully and answer the below questions

Statement: Some banks have begun charging a minimum amount of 150 per transaction for cash deposits and withdrawals beyond free four transactions in a month. The new charges will be applied to all savings as well as salary accounts. The banks have also restricted cash transactions at Rs 25,000 per day deposited by the third party in one account. Daily transactions in terms of non-home branches up to Rs 25,000 are non-chargeable. Senior citizens and children will not be charged any amount.

Are the steps taken by the bank justified? Choose the appropriate option(s).

Arguments:

I. Yes, the step taken by the banks will increase digital transactions in the country.

II. No, the people living below the poverty level in the country will face a lot of difficulties in meeting their daily needs.

III. Yes, the step taken by the bank will help wipe out black money from the country.

IV. No, all the customer of private banks will transfer their account to some other banks which do not levy any charges on cash transactions.