Consider the following statements: 

  1. MIBOR (Mumbai Interbank Offer Rate) was launched as overnight money market rate by Bombay Stock Exchange
  2. MIBOR is used as bench mark rate for Interest Rate Swaps, Forward Rate Agreements, Floating Rate Debentures and Term Deposits

Which among the above statements hold correct?

[A] Only 1
[B] Only 2
[C] Neither of the two
[D] Both of them
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