Banking · Negotiable Instruments Act

Consider the following statements regarding banker protection and statutory duties under the Negotiable Instruments Act, 1881: Statement I: Section 31 mandates that a banker must pay the cheques of the customer if funds are sufficient and properly applicable. Statement II: A banker is protected under Section 85 if they pay a cheque where the drawer's signature is forged, provided the forgery is not detectable by naked eye. Statement III: Under Section 128, a banker paying a crossed cheque in accordance with its tenor is entitled to the same position as if payment were made to the true owner. Statement IV: The 'Once a Bearer Always a Bearer' rule applies to order cheques that have been endorsed in blank. Statement V: A banker who dishonors a cheque without valid reason is liable to pay compensation to the drawer for any loss or damage caused. Which of the combinations represents the accurate set of statements?