The establishment of 'Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled, by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.

1. The objective behind establishing Payment Banks in India is to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce, low-income households, small businesses, other unorganised sector entities and other users. 2. Statement 1 is correct. As per the Reserve Bank of India (RBI) guidelines for licensing of Payment Banks, eligible promoters included non-bank Pre-paid Payment Instrument (PPI) issuers, Non-Banking Finance Companies (NBFCs), corporate Business Correspondents (BCs), mobile telephone companies, supermarket chains, companies, real sector cooperatives; that are owned and controlled by residents. 3. Statement 2 is incorrect. Payment Banks are permitted to issue ATM/debit cards. However, they are explicitly prohibited from issuing credit cards. 4. Statement 3 is correct. Payment Banks are not permitted to undertake any lending activities. They cannot advance loans or issue credit cards.