Which of the following points is/are "correct" with respect to the draft 'Licensing Framework for Authorised Persons' released by the Reserve Bank of India?
A) The Reserve Bank of India released a draft 'Licensing Framework for Authorised Persons (APs)' under the Foreign Exchange Management Act, 1999.
B) In this framework, RBI proposed to introduce a scheme, i.e. FCS, based on a principal-agency model, where AD Category-1 or AD Category-II acts as the principal for Forex Correspondents, entering into agency agreements under the FCS.
C) It is proposed to allow AD Category-II entities to additionally facilitate trade-related transactions up to a value of Rs 15 lakh (per transaction).
1
Only A
2
Only C
3
Both A and B
4
Both A and C
5
All A, B and C