TMI BlogAmendment In Regulations 4, 6 and Schedule II.X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 comply with the eligibility criteria stipulate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 gemstones and plain gold jewellery from local sources. ( iii ) Payment for import/purchase of gold from overseas/nominated agencies and repayment of US Dollars loans availed from the bank. ( iv ) Transfer to rupee accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 the Firm/Company : ( ii ) Address of the Registered Office : ( iii ) Principal business : ( iv ) IE Code No. : ( v ) Annual Turnover of the last two years (enclose certificate of CA) : ( vi ) Details of the EEFC account, if any : 4. We confi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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