Current Affairs · RTGS and NEFT Look-Up Facility Framework

Consider the following statements regarding the implementation and operational framework of the RTGS and NEFT Look-Up Facility: 1. Banks participating in RTGS and NEFT must implement the facility across all participating bank branches and digital modes. 2. The facility allows remitters to verify the beneficiary's account name using the account number and IFSC code before initiating a fund transfer. 3. To manage infrastructural costs, banks are mandated to levy a mandatory high fee on customers utilizing this verification service. 4. The facility is exclusively available to corporate clients during inter-bank settlements. Which of the statements given above are correct?