Reporting periodicity for Diamond Dollar Accounts: shifted to quarterly submission, preserving prior conditions under FEMA authority. AD Category I banks must submit details of firms/companies holding Diamond Dollar Accounts, with opening and closing dates, on a quarterly basis to the Chief General Manager in Charge, Foreign Exchange Department, Trade Division, Reserve Bank of India, by the 10th of the month following the quarter; other terms in prior circulars remain unchanged and the directions are issued under the Foreign Exchange Management Act.
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Provisions expressly mentioned in the judgment/order text.
Reporting periodicity for Diamond Dollar Accounts: shifted to quarterly submission, preserving prior conditions under FEMA authority.
AD Category I banks must submit details of firms/companies holding Diamond Dollar Accounts, with opening and closing dates, on a quarterly basis to the Chief General Manager in Charge, Foreign Exchange Department, Trade Division, Reserve Bank of India, by the 10th of the month following the quarter; other terms in prior circulars remain unchanged and the directions are issued under the Foreign Exchange Management Act.
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