With reference to Indian commercial banks Consider the following statements
1. The base rate system for the interest of the commercial banks was introduced in 2010.
2. The base rate system has enabled a more informed assessment of the transmission of monetary policy impulses to banks' lending 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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