Home › Circulars › RBI/2011-12/440

Diamond Dollar Account Reporting: Monthly to Quarterly

Current · Source: Reserve Bank of India · RBI/2011-12/440 · issued 13 Mar 2012 · ~1 min read
Quick answerRBI has shifted DDA reporting from monthly to quarterly for AD Category-I banks, effective quarter ending March 2012. Reports are due by the 10th of the month after each quarter. Other DDA terms remain unchanged.
The rule, in the simplest words
How it plays out — a real example

Rajesh, the compliance officer at a Mumbai AD bank, updates his team's calendar: instead of sending DDA reports monthly, they now compile and submit quarterly by the 10th of the following month. For the quarter ending March 2012, he ensures the report reaches RBI by April 10, 2012, freeing up time for other tasks.

What changed

Previously, AD Category-I banks had to submit monthly reports on Diamond Dollar Accounts (DDAs) to RBI. Now, reporting frequency is quarterly, starting with the quarter ended March 2012. The report must be sent to the Chief General Manager-in-Charge, Foreign Exchange Department, Trade Division, RBI, Mumbai, by the 10th of the month following the quarter.

What it means for you

This reduces administrative burden on banks by cutting reporting frequency by two-thirds. It aligns with RBI's rationalization of reporting mechanisms. Banks must update internal calendars and ensure quarterly data compilation is accurate and timely.

What you must do

Who it affects

AD Category-I banks, Branches handling Diamond Dollar Accounts, Compliance and reporting teams

❓ Common questions

When does the quarterly reporting start?

From the quarter ending March 2012, with the first report due by April 10, 2012.

What details must be included in the quarterly report?

Name and address of the firm/company holding the DDA, and dates of opening/closing of the account.

Are there any changes to other DDA rules?

No, all other terms from earlier circulars remain unchanged.

📜 Read the original circular — full text as issued by RBI
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(DIR Series) Circular No. 92 March 13, 2012 To, All Category - I Authorised Dealer Banks Madam / Sir, Opening of Diamond Dollar Accounts (DDAs) – Change in periodicity of the reporting Attention of Authorized Dealer Category – I (AD Category-I) banks is invited to para 4 of A.P. (DIR Series) Circular No. 51 dated February 13, 2009 in terms of which AD Category - I banks are required to submit a monthly report to the Reserve Bank of India, 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, by the 10th of the following month to which it relates. 2. With a view to further rationalizing the reporting mechanism, it has now been decided that AD Category-I banks should submit quarterly reports instead of monthly reports to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Trade Division, Amar Building, Mumbai – 400 001, 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 with effect from the quarter ended March 2012, by the 10th of the month following the quarter to which it relates. 3. The other terms and 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. 4. 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, (Dr. Sujatha Elizabeth Prasad) Chief General Manager 2026 All Months January February March April May June July August September October November December 2025 All Months January February March April May June July August September October November December 2024 All Months January February March April May June July August September October November December 2023 All Months January February March April May June July August September October November December 2022 All Months January February March April May June July August September October November December 2021 All Months January February March April May June July August September October November December 2020 All Months January February March April May June July August September October November December 2019 All Months January February March April May June July August September October November December 2018 All Months January February March April May June July August September October November December 2017 All Months January February March April May June July August September October November December Archives 2016 All Months January February March April May June July August September October November December 2015 All Months January February March April May June July August September October November December 2014 All Months January February March April May June July August September October November December 2013 All Months January February March April May June July August September October November December 2012 All Months January February March April May June July August September October November December 2011 All Months January February March April May June July August September October November December 2010 All Months January February March April May June July August September October November December 2009 All Months January February March April May June July August September October November December 2008 All Months January February March April May June July August September October November December 2007 All Months January February March April May June July August September October November December 2006 All Months January February March April May June July August September October November December 2005 All Months January February March April May June July August September October November December 2004 All Months January February March April May June July August September October November December 2003 All Months January February March April May June July August September October November December 2002 All Months January February March April May June July August September October November December 2001 All Months January February March April May June July August September October November December 2000 All Months January February March April May June July August September October November December 1999 All Months January February March April May June July August September October November December 1998 All Months January February March April May June July August September October November December 1997 All Months January February March April May June July August September October November December 1996 All Months January February March April May June July August September October November December 1995 All Months January February March April May June July August September October November December 1994 All Months January February March April May June July August September October November December 1993 All Months January February March April May June July August September October November December 1992 All Months January February March April May June July August September October November December 1991 All Months January February March April May June July August September October November December Top Back to previous page More Links Bank Holidays Banking Glossary Citizen's Charter Complaints Contact Us COVID-19 Measures E-LMS Events FAQs Financial Education Forms IFSC/MICR Codes Important Websites Opportunities @ RBI RBI Clarifications RBI Kehta Hai RBI’s Vision and Values (1257 kb)--> Right to Information Act Tenders Follow RBI RSS Twitter YouTube Instagram Facebook LinkedIn © Reserve Bank of India. 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Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/440 · issued 13 Mar 2012. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
⚙️ Operations
  • Maintain records of DDA openings/closings and firm details for accurate quarterly submission.
📜 Compliance
  • Update internal reporting schedules to quarterly for DDA details.
  • Ensure quarterly reports reach RBI by the 10th of the month after quarter-end.
  • Verify that other DDA terms from earlier circulars remain in force.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (AD Category-I banks, Branches handling Diamond Dollar Accounts, Compliance and reporting teams), your first concrete step on “Diamond Dollar Account Reporting: Monthly to Quarterly” is: “Update internal reporting schedules to quarterly for DDA details.” (RBI issued this 13 Mar 2012).

  1. Circular: RBI/2011-12/440 -- Diamond Dollar Account Reporting: Monthly to Quarterly
  2. Issued: 13 Mar 2012
  3. Action required: Update internal reporting schedules to quarterly for DDA details.
  4. Action required: Ensure quarterly reports reach RBI by the 10th of the month after quarter-end.
  5. Action required: Maintain records of DDA openings/closings and firm details for accurate quarterly submission.
  6. Action required: Verify that other DDA terms from earlier circulars remain in force.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7057&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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