RBI/2011-12/378
A. P. (DIR Series) Circular No.73
January 31, 2012
To
All Category – I Authorised Dealer Banks
Madam / Sir,
Opening of Diamond Dollar Accounts (DDAs)
Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to
A.P. (DIR Series) Circular No. 51 dated February 13, 2009 delegating powers to
AD Category–I banks to open and maintain DDAs by eligible firms and companies
subject to certain terms and conditions.
- It has now been decided that AD Category - I banks should submit a statement
giving the data on the DDA balances maintained by them on a fortnightly basis as
per format annexed, within seven days of close of the fortnight to which it
relates, to the Chief General Manager-in-Charge, Foreign Exchange Department,
Reserve Bank of India, Trade Division, 5th Floor, Amar Building, Mumbai –
400001.
- The other terms & conditions mentioned in the A.P. (DIR Series) Circular No.
51 dated February 13, 2009 and
A.P. (DIR Series) Circular No. 13 dated October
29, 2009 shall remain unchanged.
- AD Category - I banks may bring the contents of this circular to the notice
of their constituents and customers concerned.
- The directions contained in this circular have been issued under Sections
10(4) and 11(2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
are without prejudice to permissions / approvals, if any, required under any
other law.
Yours faithfully,
(Rashmi Fauzdar)
Chief General Manager
ANNEX
[Annex to A.P. (DIR Series) Circular No.73
dated January 31, 2012]
Statement showing balances in Diamond Dollar Account on daily basis
during the fortnight ended .........................
Name of the Bank :
A.D. Code No. :
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Balances
(in USD Million) |
Balances
(in Rupee equivalent in Crore) |
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Signature of Authorised official
Stamp
Date :