4. With respect to the commercial banks and the Non-banking Financial institutions (NBFCs), consider the following statements:
- 1.Commercial banks can accept demand deposits while NBFCs cannot accept demand deposits.
- 2.Commercial banks form a part of the payment and settlement system while NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself.
- 3.Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
Which of the statement(s) given above is/are correct?