Amendment In Regulations 4, 6 and Schedule II.

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.... the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2011.  (ii)  They shall be deemed to have come into force with effect from February 13, 2009@. 2. Amendment of the Regulations.- In the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, dated May 3, 2000 as amended from time to time, viz. :  (a)  in regulation 4 the word "Schedule" shall be amended to read as "Schedule-I",  (b)  in regulation 6 after sub-regulation (4) the following sub-regulation shall be added namely :- "(4) An Authorized Dealer Category-I Banks in India may allow firms and companies who comp....

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....EFC accounts, with banks in India or abroad, are not eligible to open Diamond Dollar Accounts.  (h)  The transactions in the DDA would be as under : 2. Permissible credits :-   (i)  Amount of pre-shipment and post-shipment finance availed in US Dollars.  (ii)  Realisation of export proceeds from shipments of rough, cut, polished diamonds and diamond studded jewellery. (iii)  Realisation in US Dollars from local sale of rough, cut and polished diamonds. 3. Permissible debits :-   (i)  Payment for import/purchase of rough diamonds from overseas/ local sources.  (ii)  Payment for purchase of cut and polished diamonds, coloured....

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....other stones, with a track record of at least 2 years in import/export of diamonds/coloured gemstones/diamond and coloured gemstones studded jewellery/plain gold jewellery, and having an average annual turnover of Rs. 3 crore or above during preceding three licensing years. 2. We wish to open a current account/s under the Diamond Dollar Account Scheme with your bank in accordance with the provisions of (mention the relevant paragraph) of the Foreign Trade Policy (period, e.g., 2009-2014) of the Government of India read with the Handbook of Procedures (mention the relevant Volume No.) issued by Ministry of Commerce and Industry, Government of India. 3. The relevant particulars are furnished below :   (i)  Name of....