Which of the following statements regarding Priority Sector Lending is/are correct?
1. The provisions of PSL apply to every Commercial Bank [including Regional Rural Bank (RRB), Small Finance Bank (SFB), Local Area Bank] and Primary (Urban) Co-operative Bank (UCB).
2. PSL includes entrepreneurship and renewable resources.
3. Non-achievement of priority sector targets and sub-targets is also taken into account while granting regulatory clearances/approvals for various purposes.
Select the correct answer using the code given below.
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1, 2 and 3