Diamond Dollar Account (DDA) Scheme

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d companies may open and maintain DDA with AD Category-I banks, subject to the following terms and conditions:- (a) The exporter should comply with the eligibility criteria stipulated in the Foreign Trade Policy of the Government of India, issued from time to time. (b) The DDA shall be opened in the name of the exporter and maintained in US Dollars only. (c) The account ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....roceeds 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 gemstones and plain gold jew....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../S To, The Branch Manager/ (name & address of AD bank/branch) Dear Sir, We are dealing in purchase/ sale of rough or cut and polished diamonds / precious metal jewellery plain, minakari and/ or studded with/ without diamond and/or other stones, with a track record of at least ^1[Three Years] in import / export of diamonds / coloured gemstones / diamond and coloured gemstones studded je....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (vi) Details of the EEFC account, if any : 4. We confirm that we are not maintaining any foreign currency account, excluding EEFC account, with banks in India or abroad. 5. We declare that we are not maintaining more than 5 DDAs including the one proposed to be opened with your branch. 6. We declare that we are neither on the caution list of exporters of Reserve Bank of India nor o....