With reference to the Banking Laws (Amendment) Act, 2025, consider the following statements: 1. The Act redefines the threshold for ‘substantial interest’ in banks from ₹5 lakh to ₹2 crore. 2. In cooperative banks, the maximum tenure for directors (other than chairperson and whole-time directors) has been raised from 8 years to 10 years, in line with the 97th Constitutional Amendment. 3. Public Sector Banks (PSBs) are now allowed to transfer unclaimed shares and interest to the Investor Education and Protection Fund (IEP

• F , aligning with Companies Act provisions. Which of the above statements is/are correct?