Choose incorrect statement regarding Masala bonds ........

Explanation:

Masala Bonds: They are bonds issued outside India by an Indian entity or corporate. These bonds are issued in Indian currency than local currency.  Indian corporates usually issue Masala Bonds to raise funds from foreign investors. As it is pegged into Indian currency, if the rupee rates fall, investors bear the risk. As Masala bonds are issued directly in Indian rupees, the investor needs to bear the exchange rate risks. Rupee rate falls will not affect the issuer of Masala Bonds. In simpler words, as Masala Bonds are rupee-denominated bonds, the risk goes directly to the investor.The first Masala bond was issued in 2014 by IFC for the infrastructure projects in India.