https://www.taxtmi.com/circulars?id=5544 AD Category I banks are authorised to open and maintain Diamond Dollar Accounts in US dollars as non interest current accounts for exporters meeting Foreign Trade Policy eligibility; banks must verify track record and turnover, review eligibility annually, and close non compliant accounts. Account balances attract CRR and SLR; intra DDA transfers by the holder are prohibited; firms may hold only the prescribed number of DDAs. Permissible credits include US dollar finance and export realisations; permissible debits include payments for import/purchase of diamonds, gemstones and jewellery, repayment of USD loans and transfers to rupee accounts. Monthly reporting to the Reserve Bank is required. en-us Fri, 13 Feb 2009 00:00:00 +0530 Fri, 30 Oct 2009 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5544 AD Category I banks are authorised to open and maintain Diamond Dollar Accounts in US dollars as non interest current accounts for exporters meeting Foreign Trade Policy eligibility; banks must verify track record and turnover, review eligibility annually, and close non compliant accounts. Account balances attract CRR and SLR; intra DDA transfers by the holder are prohibited; firms may hold only the prescribed number of DDAs. Permissible credits include US dollar finance and export realisations; permissible debits include payments for import/purchase of diamonds, gemstones and jewellery, repayment of USD loans and transfers to rupee accounts. Monthly reporting to the Reserve Bank is required. Circulars FEMA Fri, 13 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5544