Consider the following statements regarding the guidelines for lending to MSME sector as per the RBI Master Directions:
- Banks are required to offer collateral-free loans up to ₹10 lakh for all units in the MSME sector.
- A Composite Loan limit of ₹1 crore can be sanctioned to MSMEs for working capital and term loans through a single window.
- General Credit Card (GCC) facilities for MSMEs are governed by RBI guidelines under the Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions.
Which of the above statements is/are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
3 only
5
1, 2, and 3