In the electrolysis of aqueous NaCl solution, side reactions taking place are:

(I) $2{\mathrm{OH}}^{-}+{\mathrm{Cl}}_2⟶C{l}^{-}+{\mathrm{OCl}}^{-}+{\mathrm{H}}_2\mathrm{O}$

(II) $2\mathrm{Na}+2{\mathrm{H}}_2\mathrm{O}⟶2\mathrm{NaOH}+{\mathrm{H}}_2$

(III) $4{\mathrm{OH}}^{-}⟶{\mathrm{O}}_2+2{\mathrm{H}}_2+4e^{-}$

Select the correct alternate :