DGFT Authorises 15 Banks For Gold, Silver Imports Till 2029

New Delhi, Apr 18 (KNN) The Directorate General of Foreign Trade (DGFT) under Ministry of Commerce and Industry has issued a notification listing banks authorised to import gold and silver, easing disruptions that had temporarily halted bullion imports due to delays in the annual order.

The notification permits 15 banks, including State Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Yes Bank, to import both gold and silver fr0m April 1, 2026 to March 31, 2029.

Additionally, Union Bank of India and Sberbank have been authorised to import only gold, reported Business Standard.

Disruption Led to Supply Constraints
The order updates Appendix 4B of the Handbook of Procedures, 2023, in line with authorisations by the Reserve Bank of India.

The move follows a temporary disruption during which over 5 metric tonnes of gold and around 8 metric tonnes of silver were held up at customs due to the absence of a valid import authorisation list, with banks pausing fresh import orders.

Imports Set to Normalise Market Supply
With the notification in place, banks are expected to resume imports and clear pending consignments, helping normalise domestic supply.

As one of the world’s largest consumers of bullion, India relies heavily on imports, and disruptions can impact jewellers, traders and price stability. The latest order is expected to ease supply-side pressures and restore regular import flows.

(KNN Bureau)