Which of the following is/are false?

(i) The Central Board in discharging its functions shall act on business principles, regard being had to public interest. (ii) The Central government is authorised to give any directions to the State Bank in matters of policy involving public interest. (iii) The provisions of Section 42 of the Reserve Bank of the India Act relating to cash reserve applicable to commercial banks. (iv) Every person who immediately before the appointed day is registered as a holder of shares in the Imperial Bank shall be entitled to compensation.

(i) The Central Board in discharging its functions shall act on business principles, regard being had to public interest.

(ii) Central Board to be guided by directions of Central Government  In the discharge of its functions including those relating to a subsidiary bank, the State Bank shall be guided by such directions in matters of policy involving public interest as the Central Government may, in consultation with the Governor of the Reserve Bank and the chairman of the State Bank, give to it.

(iii) Every commercial bank has to keep certain minimum cash reserves with Reserve Bank of India. Consequent upon amendment to sub-Section 42(1), the Reserve Bank, having regard to the needs of securing the monetary stability in the country, RBI can prescribe Cash Reserve Ratio (CRR) for scheduled banks without any floor rate or ceiling rate.

(iv) Compensation to be given to shareholders of Imperial Bank.  Every person who immediately before the appointed day is registered as a holder of shares in the Imperial Bank shall be entitled to compensation in accordance with the provisions contained in the First Schedule. Thus, all the statements are true.