Diamond Dollar Account (DDA) – Reporting Mechanism

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..... (e) of the Master Direction on Reporting under Foreign Exchange Management Act, 1999 , as updated from time to time, in terms of which AD Category-I banks have been advised to submit quarterly reports giving details of the name and address of the firm/company in whose name the Diamond Dollar Account is opened, along with the date of opening / closing the Diamond Dollar Account to Chief General Ma .....

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..... , which have been notified vide Notification No. FEMA 10 (R) /2015-RB dated January 21, 2016 . The Master Direction No 16 on Export of Goods and Services and Master Direction No 18 on Reporting under Foreign Exchange Management Act, 1999 are being updated to reflect the changes. 4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the .....

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