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 a source of debt financing for the public and private sector.

Select the correct answer using the code given below

I.A.S. (Pre) 2016