3. With respect to the differences between the commercial banks and the Non-Banking Financial Company (NBFC), which of the statements are correct?
- 1.Commercial banks can accept demand deposits whereas the NBFCs cannot accept demand deposits.
- 2.Commercial Banks form a part of the payment and settlement system and issue cheques drawn on it, while NFCCs cannot do so.
- 3.Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of commercial banks.
Select the correct answer using the code given below: