In a public notice issued on Friday, April 17, the DGFT said 15 banks have been permitted to import both gold and silver from April 1, 2026, to March 31, 2029.
These include Axis Bank, Bank of India, Deutsche Bank, Federal Bank, HDFC Bank, Industrial and Commercial Bank of China, ICICI Bank, IndusInd Bank, Indian Overseas Bank, Kotak Mahindra Bank, Karur Vysya Bank, Punjab National Bank, RBL Bank, State Bank of India and Yes Bank.
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Separately, the DGFT said Union Bank of India and SBER Bank have been authorised to import only gold for the same period.
The notification amends Appendix 4B of the Handbook of Procedures, 2023, under the Foreign Trade Policy, 2023. The DGFT said the effect of the notification is to update the list of banks authorised to import gold and silver.
Indian banks had recently paused fresh orders for gold and silver imports, with consignments already shipped remaining stuck at customs due to the absence of a formal government notification authorising bullion imports, according to media reports.
The DGFT typically issues this list at the start of each financial year. The previous authorisation, issued in April 2025, expired on March 31, 2026, leaving banks awaiting a fresh directive.
In the interim, dealers indicated that several tonnes of gold and silver were pending customs clearance, while banks held back on placing new orders, citing uncertainty over timelines. Industry participants had flagged that continued delays could tighten domestic supply, given India’s reliance on imports to meet demand.
