https://www.taxtmi.com/acts?id=18606 The Diamond Dollar Account Scheme permits eligible exporter firms and companies to open US dollar current accounts with AD Category I banks subject to eligibility under the Foreign Trade Policy, prohibition on interest, CRR/SLR applicability, prohibition on intra account transfers, and a limit on the number of accounts. Permissible credits are export realizations and US dollar export finance; permissible debits cover payments for diamonds, gemstones, specified jewellery, imported gold, loan repayments and transfers to rupee accounts. Banks must vet eligibility annually and report openings/closings monthly to the Reserve Bank of India. en-us Mon, 19 May 2014 16:43:40 +0530 Wed, 25 Jun 2025 15:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=18606 The Diamond Dollar Account Scheme permits eligible exporter firms and companies to open US dollar current accounts with AD Category I banks subject to eligibility under the Foreign Trade Policy, prohibition on interest, CRR/SLR applicability, prohibition on intra account transfers, and a limit on the number of accounts. Permissible credits are export realizations and US dollar export finance; permissible debits cover payments for diamonds, gemstones, specified jewellery, imported gold, loan repayments and transfers to rupee accounts. Banks must vet eligibility annually and report openings/closings monthly to the Reserve Bank of India. Act-Rules FEMA Mon, 19 May 2014 16:43:40 +0530 https://www.taxtmi.com/acts?id=18606