Diamond Dollar Account Upgraded to Three years from Two years

· Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Sixth Amendment) Regulations, 2025

[Notification No. FEMA 10 (R)(6)/2025-RB dated April 29, 2025]

Notification No. FEMA 10(R)/2015-RB dated January 21, 2016

In exercise of the powers conferred by section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015 [Notification No. FEMA 10(R)/2015-RB dated January 21, 2016] (hereinafter referred to as ‘the principal regulations’) namely:

1. Short title and commencement: -

(i) These regulations shall be called the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Sixth Amendment) Regulations, 2025.

(ii) They shall come into force with effect from the date of their publication in the Official Gazette.

2. Amendment to Schedule II:

In the Principal Regulations, in Schedule II, in the Annex titled ‘Application for Opening Diamond Dollar Account/s’, in the first paragraph, for the words and figures “2 years”, the words “three years” shall be substituted.