Diamond Dollar Accounts enable eligible exporters to use US Dollar current accounts for authorised diamond and jewellery trade transactions. Eligible exporter firms and companies may maintain up to five non-interest-bearing US Dollar current accounts under the Diamond Dollar Account Scheme with ... Summary
Diamond Dollar Accounts enable eligible exporters to use US Dollar current accounts for authorised diamond and jewellery trade transactions.
Eligible exporter firms and companies may maintain up to five non-interest-bearing US Dollar current accounts under the Diamond Dollar Account Scheme with AD Category-I banks. Credits are limited to specified US Dollar export receipts and trade finance, while debits cover authorised diamond, gemstone, jewellery and gold purchases, loan repayment, and transfers to rupee accounts. Exporters holding other foreign currency accounts, except EEFC accounts, are ineligible. Banks must review eligibility annually and may close accounts where eligibility is not met.
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