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Core Purpose

Amends notification No. 50/2017-Customs by substituting Lists 34A and 34B.

Detailed Summary

The Ministry of Finance (Department of Revenue) has issued a notification dated 28th April 2025, exercising powers under Section 25(1) of the Customs Act, 1962, and Section 3(12) of the Customs Tariff Act, 1975. This notification makes further amendments to the principal notification of the Ministry of Finance (Department of Revenue) No. 50/2017-Customs, dated 30th June 2017. Specifically, in the Annexure to the Table of the said notification, List 34A and List 34B, along with their entries, are substituted. The new List 34A includes thirteen specified banks, and the new List 34B includes two specified banks. These substituted lists and entries are effective from 1st April 2025 and shall remain valid up to 31st March 2026.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-28042025-262745 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 229] NEW DELHI, MONDAY, APRIL 28, 2025/VAISAKHA 8, 1947 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th April, 2025 No. 24/2025-Customs G.S.R. 268(E). — In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 50/2017- Customs, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R 785 (E), dated the 30th June 2017, namely:- In the said notification, in the Annexure to the Table, for List 34A and List 34B, and the entries relating thereto, the following Lists and entries shall respectively be substituted, namely:- "List 34A (See S. No. 359A of the Table) – with effect from 1st April, 2025 and valid upto 31st March, 2026: +-----+-----------------------------------------------+ | 1. | Axis Bank Limited | +-----+-----------------------------------------------+ | 2. | Bank of India | +-----+-----------------------------------------------+ | 3. | Federal Bank Limited | +-----+-----------------------------------------------+ | 4. | HDFC Bank Limited | +-----+-----------------------------------------------+ | 5. | Industrial and Commercial Bank of China Limited | +-----+-----------------------------------------------+ | 6. | ICICI Bank Limited | +-----+-----------------------------------------------+ | 7. | IndusInd Bank Limited | +-----+-----------------------------------------------+ | 8. | Kotak Mahindra Bank Limited | +-----+-----------------------------------------------+ | 9. | Karur Vysya Bank Limited | +-----+-----------------------------------------------+ | 10. | Punjab National Bank | +-----+-----------------------------------------------+ | 11. | RBL Bank Limited | +-----+-----------------------------------------------+ | 12. | State Bank of India | +-----+-----------------------------------------------+ | 13. | Yes Bank Limited | +-----+-----------------------------------------------+ List 34B (See S. No. 359A of the Table)- with effect from 1st April, 2025 and valid upto 31st March, 2026 : +-----+----------------------------------+ | 1. | Indian Overseas Bank | +-----+----------------------------------+ | 2. | Union Bank of India.". | +-----+----------------------------------+ [F. No. 190354/35/2023-TRU] DHEERAJ SHARMA, Under Secy. Note: -The principal notification No. 50/2017-Customs, dated the 30th June, 2017 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017 and last amended vide notification No. 23/2025-Customs, dated the 4th April, 2025 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 218(E), dated the 4th April, 2025.

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