Which of the following statements about M1xchange's role in Micro, Small & Medium Enterprises (MSMEs) financing is/are correct?

1. M1xchange provides collateral based loans to MSMEs.

2. M1xchange facilitates discounting of invoices and Bills of Exchange for MSMEs.

3. M1xchange functions as a credit rating agency for MSMEs.

Select the answer using the code given below:

1. (a) 1, 2 and 3
2. (b) 2 onlyCorrect answer
3. (c) 2 and 3 only
4. (d) 1 only

Answer: (b)