The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/ describe this term? 1. It is a networking of a bank's branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts. 2. It is an effort to increase RBI's control over commercial banks through computerization. 3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank. Select the correct answer using the code given below.

1. Statement 1 accurately describes 'Core Banking Solutions' (CBS). It refers to a centralized system where a bank's branches are interconnected through a computer network. This allows customers to operate their accounts and avail banking services from any branch of the bank on the network, irrespective of where they initially opened their account. It enables 'anywhere banking'. 2. Statement 2 is incorrect. While computerization through CBS can facilitate better reporting and oversight, its primary goal is not to increase the Reserve Bank of India's (RBI) control over commercial banks. The main objectives are improved customer service, operational efficiency, and product deployment. 3. Statement 3 is incorrect. This statement describes a procedure related to bank mergers or acquisitions, often triggered by issues like high non-performing assets (NPAs). It has no direct relation to the definition of Core Banking Solutions.