Diamond Dollar Account eligibility relaxed, permitting firms with reduced track record and lower turnover to open and maintain accounts. The Government amended Paragraph 4A.19 of the Foreign Trade Policy to relax eligibility for Diamond Dollar Accounts, reducing the required track record and lowering the average annual turnover threshold for firms and companies dealing in diamonds, coloured gemstones and specified jewellery. AD Category I banks are instructed to apply the revised eligibility criteria when opening and maintaining DDAs, while other terms and conditions remain unchanged and banks must remain guided by the Foreign Trade Policy in force.
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Diamond Dollar Account eligibility relaxed, permitting firms with reduced track record and lower turnover to open and maintain accounts.
The Government amended Paragraph 4A.19 of the Foreign Trade Policy to relax eligibility for Diamond Dollar Accounts, reducing the required track record and lowering the average annual turnover threshold for firms and companies dealing in diamonds, coloured gemstones and specified jewellery. AD Category I banks are instructed to apply the revised eligibility criteria when opening and maintaining DDAs, while other terms and conditions remain unchanged and banks must remain guided by the Foreign Trade Policy in force.
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