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Core Purpose

Public Notice amending Appendix 4B of the Handbook of Procedures, 2023 to update the list of banks authorised by the Reserve Bank of India to import gold and silver for FY 2024-25.

Detailed Summary

The Directorate General of Foreign Trade, Ministry of Commerce and Industry, Department of Commerce, by Public Notice No. 54/2023 dated 28th March 2024 (F. No. 01/94/180/261/AM18/PC-4), in exercise of powers under Paragraphs 1.03 and 2.04 of the Foreign Trade Policy (FTP), 2023, amended Parts A and B of Appendix 4B of the Handbook of Procedures, 2023, updating the lists of banks authorised by the Reserve Bank of India to import gold and silver for financial year 2024-25, effective 1st April 2024 to 31st March 2025. Part A lists eleven banks authorised to import both gold and silver: Axis Bank Limited, Federal Bank Limited, HDFC Bank Limited, Industrial and Commercial Bank of China Limited, ICICI Bank Limited, IndusInd Bank Limited, Kotak Mahindra Bank Limited, Karur Vysya Bank Limited, RBL Bank Limited, State Bank of India, and Yes Bank Limited. Part B lists three banks authorised to import gold only: Indian Overseas Bank, Punjab National Bank, and Union Bank of India. The notice was signed by Santosh Kumar Sarangi, Director General of Foreign Trade and Ex-officio Additional Secretary.

Full Text

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