Reserve Bank of India

23.03.2016

Banking

Diamond Dollar Account - Reporting Mechanism

MANU/APDR/0016/2016

The Reserve Bank of India has dispensed with quarterly and fortnightly statements previously submitted by banks giving details of the name and address of firms or companies in whose name a Diamond Dollar Account had been opened. Though regular statements are no longer required, banks must continue to maintain the database of such account holders.

Relevant

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 MANU/RFEM/0006/2016

Tags : Diamond dollar bank account statement

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