A Draft Licensing Framework released by RBI for private-public partnership FEMA

Current Context: The draft licensing framework for authorised persons under FEMA, which was released by the Reserve Bank of India (RBI) on December 26, 2023.

• According to the RBI press release, the draft framework aims to rationalise and simplify the licensing process for entities that provide foreign exchange-related services, such as money changers, full-fledged money changers, and authorised dealer category II entities.
• The draft framework also proposes to introduce alternate models for facilitating foreign exchange facilities, such as digital platforms and aggregators.
• The RBI has invited comments and feedback from stakeholders on the draft framework by January 31, 2024.

Question:

Q.1 When was the draft licensing framework for authorised persons under FEMA released by the Reserve Bank of India (RBI)?
a. December 25, 2023
b. December 26, 2023
c. December 27, 2023
d. December 28, 2023