Correct answer: (c) Both 1 and 2
Explanation
- A
1 only
Statement 1 only. IFC is the World Bank Group’s private-sector arm, but Masala bonds are also rupee paper used for debt finance. 1 alone is incomplete.
- B
2 only
Statement 2 only. Rupee denomination and debt-finance use are right, yet the IFC–World Bank link is also correct. Dropping 1 is not the key.
- C
Both 1 and 2
Both 1 and 2. The International Finance Corporation belongs to the World Bank Group. Masala bonds are rupee-denominated bonds issued offshore; IFC’s issues opened a template for Indian public and private borrowers to raise rupee funds without immediate currency mismatch on the issuer side in the same way as dollar debt. That stored letter is the official key.
- D
Neither 1 nor 2
Neither. Both statements match the 2015–16 Masala-bond story, so ‘neither’ is not the key.
Summary. Official key is (c) both 1 and 2. IFC is the World Bank Group’s private-arm lender. Masala bonds are offshore rupee bonds and a debt-raising route. Honour the stored letter (c).
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