Consider the following statements about electronic records: 1. An electronic record must always be retained in the exact original format in which it was generated. 2. Retained electronic records must remain accessible so as to be usable for subsequent reference. 3. Retained electronic records must preserve details enabling identification of origin, destination, date and time of dispatch or receipt. Which of the above statements are correct according to the IT Act, 2000?

Section 7 of the IT Act, 2000 governs retention of electronic records. The Act does not mandate that an electronic record must always be retained in the exact original format in which it was generated. What the law requires is functional equivalence. First, the record must remain accessible and usable for subsequent reference. Second, it must be retained in a format that accurately represents the information originally generated, sent or received. Third, the record must preserve details such as the origin, destination, date and time of dispatch or receipt. Statement 1 is incorrect because the exact original format is not compulsory. Statements 2 and 3 correctly reflect statutory requirements, making option B correct.