Consider the following statements with respect to Non-Banking Financial Company (NBFC):

1. NBFC can accept demand deposits.

2. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself.

Which of the statements given above is/are correct?

1
1 only
2
2 only
3
Both 1 and 2
4
More than one of the above
5
None of the above

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