With reference to Infrastructure Finance Company (IFC) consider the following statements:1.These types of companies accept deposits that can be utilized for the investments in the infrastructure. 2.In order to be categorized as an IFC, 75% of the total assets of the company should be deployed in infrastructure loans.Select the correct statements using the code given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. IFC is a non-deposit accepting loan company.

Statement 2 is correct. In order to be categorized as an IFC, 75% of the total assets of the company should be deployed in infrastructure loans.