Understanding Diamond Dollar Accounts (DDAs) in the Indian Banking System

Diamond Dollar Accounts (DDAs) are specialized current accounts denominated in US dollars, maintained with banks in India. These accounts are exclusively available to firms and companies engaged in the import and export of rough or cut and polished diamonds, coloured gemstones, and precious metal jewellery, whether plain, enameled (minakari), or studded with diamonds or other…

What is a 2-in-1 Account?

A 2-in-1 account refers to a financial product that integrates a Demat (Dematerialized) account with a trading account, thereby streamlining the process of buying and selling securities. This consolidated arrangement allows investors to deposit funds, manage securities, and execute trades through a single platform, enhancing convenience and operational efficiency. In banking terminology, the term “2-in-1…