With reference to 'IFC Masala Bonds', sometimes seen in the news, which of the statements given below is/are correct? 1. The International Finance Corporation, which offers these bonds, is an arm of the World Bank. 2. They are the rupee-denominated bonds and are a source of debt financing for the public and private sector. Select the correct answer using the code given below.
a
1 only
b
2 only
c
Both 1 and 2
d
Neither 1 nor 2
International FinanceMasala Bonds & IFCIFC Masala BondsInternational Finance CorporationWorld BankRupee-denominated bondsDebt financingPublic sectorPrivate sectorExternal commercial borrowings