RBI Authorises 2 new banks for import of Gold and silver
According to the Appendix 4B of the Handbook of Procedures, there were 14 Banks authorised by the Reserve Bank of India which were allowed to Import Gold and Silver both and 2 banks authorised by the Reserve Bank of India which were only allowed to Import Gold. It has now been amended by the DGFT, allowing 15 banks authorised by the Reserve Bank of India to Import Gold and Silver both and only 1 bank authorised by the Reserve Bank of India to Import Gold. This is to be valid until 31st March, 2024. The list of banks are as follows:
A. LIST OF BANKS WITH ADDRESSES AUTHORISED BY RESERVE BANK OF INDIA TO IMPORT BOTH GOLD AND SILVER
|
Sr. No. |
Bank Name |
Status |
Sr. No. |
Bank Name |
Status (For FY 23-24) |
|
1 |
Bank of India |
Not Amended |
1 |
Axis Bank Limited |
Amended (Valid till 31.03.24) |
|
2 |
Bank of Nova Scotia |
Not Amended |
2 |
Bank of India |
Amended (Valid till 31.03.24) |
|
3 |
Corporation Bank |
Not Amended |
3 |
Federal Bank Limited |
Amended (Valid till 31.03.24) |
|
4 |
The HDFC Bank Ltd |
Not Amended |
4 |
HDFC Bank Limited |
Amended (Valid till 31.03.24) |
|
5 |
ICICI Bank Ltd. |
Not Amended |
5 |
Industrial and Commercial Bank of China Limited |
Amended (Valid till 31.03.24) |
|
6 |
Indian Overseas Bank |
Not Amended |
6 |
ICICI Bank Limited |
Amended (Valid till 31.03.24) |
|
7 |
Induslnd Bank Ltd. |
Not Amended |
7 |
IndusInd Bank Limited |
Amended (Valid till 31.03.24) |
|
8 |
Kotak Mahindra Bank Ltd. |
Not Amended |
8 |
Indian Overseas Bank |
Amended (Valid till 31.03.24) |
|
9 |
Punjab National Bank |
Not Amended |
9 |
Kotak Mahindra Bank Limited |
Amended (Valid till 31.03.24) |
|
10 |
State Bank of India |
Not Amended |
10 |
Karur Vysya Bank Limited |
Amended (Valid till 31.03.24) |
|
11 |
Union Bank of India |
Not Amended |
11 |
Punjab National Bank |
Amended (Valid till 31.03.24) |
|
12 |
Yes Bank Limited |
Not Amended |
12 |
RBL Bank Limited |
Amended (Valid till 31.03.24) |
|
13 |
RBL Bank |
Not Amended |
13 |
State Bank of India |
Amended (Valid till 31.03.24) |
|
14 |
Industrial and Commercial Bank of |
Not Amended |
14 |
Union Bank of India |
Amended (Valid till 31.03.24) |
|
|
|
|
15 |
Yes Bank Limited |
Amended (Valid till 31.03.24) |
B. LIST OF BANKS WITH ADDRESSES AUTHORISED BY RESERVE BANK OF INDIA TO IMPORT ONLY GOLD
|
Sr. No. |
Bank Name |
Status |
Sr. No. |
Bank Name |
Status (For FY 23-24) |
|
1 |
Bank of Baroda |
Not Amended |
1 |
Bank of Baroda |
Amended (Valid till 31.03.24) |
|
2 |
The Federal Bank Ltd. |
Not Amended |
|
|
|
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