Consider the following statements:

  1. The bank loans to all MFIs including NBFCs working as MFIs are deemed to be the priority sector loans
  2. The highest loan amount for an individual borrower, is Rs 25,000 with an interest rate cap of 24 per cent as recommended by Malegam Committee

Which among the above statements is / are correct?

[A] 1 Only
[B] 2 Only
[C] Both 1 & 2
[D] Neither 1 nor 2
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