Direction: In the questions given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements, which one of the following is correct?
Assertion (A) The EXIM Bank (Export-Import Bank) was established on 1st January, 1982.
Reason (R) EXIM Bank was established for financing, facilitating and promoting foreign trade in India.
1
(A) is true, but (R) is false
2
Both (A) and (R) are true
3
(A) is false, but (R) is true
4
Both (A) and (R) are false