The Directorate General of Foreign Trade (DGFT) has updated the list of banks authorised by the Reserve Bank of India to import bullion, allowing 17 lenders to import gold and silver until March 31, 2029.
According to the public notice issued by the commerce ministry, the revised authorisation will take effect from April 1, 2026. Of the 17 banks, 15 have been permitted to import both gold and silver, while two banks can import only gold.
The banks authorised to import both gold and silver include Axis Bank, Bank of India, Deutsche Bank, Federal Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India and Yes Bank, among others.
Union Bank of India and SBER Bank have been authorised to import only gold.
“In exercise of the powers conferred under paragraph 1.03 & 2.04 of the Foreign Trade Policy (FTP), 2023, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendments in Part A and B under Appendix 4B of Handbook of Procedure, 2023,” the DGFT said in the notification.
Earlier, Reuters reported that Indian banks had paused gold and silver import orders amid delays in the government issuing a fresh notification, leaving bullion consignments stuck at customs.
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