DGFT Authorizes 17 Banks to Import Gold & Silver Until March 2029
In April 2026, the Directorate General of Foreign Trade (DGFT), under the Department of Commerce(DoC), Ministry of Commerce & Industry (MoC&I), updated the list of authorised banks, permitting 15 banks to import both gold and silver and 2 banks to import only gold.
In April 2026, the Directorate General of Foreign Trade (DGFT), under the Department of Commerce(DoC), Ministry of Commerce & Industry (MoC&I), updated the list of authorised banks, permitting 15 banks to import both gold and silver and 2 banks to import only gold.
- As per DGFT, the authorisation will come into effect from April 01, 2026 and will remain valid till March 31, 2029.
Key Details:
Key Amendment: As per DGFT official notification, this authorisation was granted through amendments made in Appendix 4 of the Handbook of Procedures, 2023 under the Foreign Trade Policy (FTP), 2023.
List of Banks:
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- Imports Both: Indian Overseas Bank (IOB); Bank of India(BoI); Punjab National Bank (PNB); RBL Bank Limited; State Bank of India (SBI); Axis Bank Limited; Federal Bank Limited; HDFC Bank Limited; ICICI Bank Limited; IndusInd Bank Limited; Kotak Mahindra Bank Limited (KMBL); Karur Vysya Bank Limited (KVB); Yes Bank Limited;Deutsche Bank; Industrial and Commercial Bank of China Limited.
- Import Only: Union Bank of India (UBI) and SBER Bank, a Russian state-publicly listed company.
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