The Reserve Bank of India issued the sixth amendment to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015, extending the period referenced in the application format for opening Diamond Dollar Account(s) from 2 years to three years. The change is made in Schedule II of the principal regulations, within the annex titled “Application for Opening Diamond Dollar Account/s”, by substituting “2 years” with “three years”. The amendment takes effect from the date of its publication in the Official Gazette.
Reserve Bank of India 2025-04-29
Reserve Bank of India amends foreign currency account rules to extend Diamond Dollar Account application validity to three years
The Reserve Bank of India amended the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015, extending the period for opening Diamond Dollar Accounts from two to three years. This change is reflected in Schedule II of the principal regulations and is effective from its publication date in the Official Gazette.