5. 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.

1. 1 only

2. 2 only

3. Both 1 and 2

4. Neither 1 nor 2

Correct Answer :

Both 1 and 2