Consider the following statements about the Reserve Requirements
1. Reserve requirement can be used as an instrument of monetary policy.
2. Required reserve ratio is used as a tool to Influence the country's borrowing and interest rates.
Which of the statements given above is/are correct?

A) Only 1
B) Only 2

C) Both 1 and 2
D) Neither 1 nor 2

Correct answer:
C) Both 1 and 2


Please provide the error details in above question

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