Consider the following statements about the Non-Banking Financial Companies (NBFCs) in India: 1. NBFCs cannot accept demand deposits. 2. All the NBFCs operating in India have to be registered with the RBI. 3. NBFCs form part of the payment and settlement system and can issue cheque drawn on itself. 4. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not available to the depositors of deposit taking NBFCs.

Statement 1 is correct: NBFCs cannot accept demand deposits (deposits payable on demand like savings/current accounts) — this is one of the key distinctions from banks. Statement 4 is correct: DICGC deposit insurance (up to ₹5 lakh) is available only to bank depositors, not to depositors of NBFCs. Statement 2 is incorrect because not ALL NBFCs need to be registered with RBI — some NBFCs are regulated by other regulators (e.g., insurance companies by IRDAI, merchant banking companies, venture capital fund companies, stock broking companies, etc. are exempted from RBI registration). Statement 3 is incorrect: NBFCs do NOT form part of the payment and settlement system and CANNOT issue cheques drawn on themselves — this is a fundamental difference from banks. Hence only statements 1 and 4 are correct.