Explanation:

- Statement 1: Limited and standard services by banks restrict financial inclusion since tailored or innovative products for rural and marginalized groups are often missing.

- Statement 2: Frequent machine breakdowns (like ATMs or micro-ATMs) disrupt people's access to their money, especially in remote areas.

- Statement 3: Poor electrification infrastructure can severely affect banking operations, making digital or electronic banking services unreliable.

- Statement 4: Low literacy and income levels hinder understanding and uptake of banking products by the masses.

- Option 1: Misses statement 4, but literacy and income are major barriers.

- Option 2: Misses statement 1; limited services are a real challenge.

- Option 3: Ignores tech barriers and service limitations.

- Option 4: Includes all correct challenges.