Key Banks Expanded: RBI Authorizes 15 Institutions for Gold and Silver Imports
The Government of India, through the Ministry of Commerce & Industry, has issued a significant public notice detailing amendments to the list of authorized banks for importing precious metals. The update, effective from April 1, 2026, modifies the regulatory landscape for India’s gold and silver trade finance sector.The Directorate General of Foreign Trade (DGFT) announced the changes via a notice dated April 17, 2026. The amendments are crucial for trade participants needing to understand the updated banking network for bullion imports.
Expanded List for Gold and Silver Imports
Under Appendix 4B of the Handbook of Procedures, 2023, the DGFT has released an expanded list of financial institutions authorized to import both gold and silver. This new list is valid from 01.04.2026 up to 31.03.2029.The newly authorized institutions include major domestic and international players. Axis Bank Limited, Bank of India, Deutsche Bank, Federal Bank Limited, and HDFC Bank Limited feature on the list.
Furthermore, the notice names several key public and private sector banks. ICICI Bank Limited, Indusind Bank Limited, Indian Overseas Bank, Kotak Mahindra Bank Limited, Karur Vysya Bank Limited, Punjab National Bank, RBL Bank Limited, State Bank of India, and Yes Bank Limited are also cleared for both metals' import.
Dedicated Banking Access for Gold Imports Only
For transactions involving only gold, the regulatory structure maintains a distinct list of authorized banks. This separate authorization ensures dedicated operational handling for gold-specific imports.The two banks approved solely for importing gold are Union Bank of India and SBER Bank.
The inclusion of these separate lists clarifies the operational guidelines for different types of bullion trade. Market participants must refer to the notice for confirmation regarding their specific import needs.
Regulatory Framework and Trading Implications
This amendment modifies the operational framework outlined under the Foreign Trade Policy (FTP), 2023. The directive is a direct exercise of powers conferred under the FTP, 2023.The notice emphasizes that the revised list is intended to standardize and simplify the import process for physical gold and silver. These changes will govern the trade until March 31, 2029.
The public notice confirms that the listing of authorized banks for gold/silver import under Appendix 4B of the Handbook of Procedures, 2023, has been updated to reflect the current trade guidelines. Market players are advised to review the Gazette of India for full compliance details.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.