With reference to $`$IFC Masala Bonds$,$ which of the statements given below is$/$are correct?

$1.$ The International Finance Corporation, which offered these bonds, is an arm of the World Bank.

$2.$ They are rupee$-$denominated bonds and are a source of debt financing for the public and private sector

a$.$

$1$ only

b$.$

$2$ only

c$.$

Both $1$ and $2$

d$.$

Neither $1$ nor $2$