The government has clarified and updated rules governing gold and silver imports, issuing a fresh notification that resolves administrative delays which had slowed shipments at customs.
The Directorate General of Foreign Trade (DGFT) has released an updated list of banks authorised to import precious metals under the Foreign Trade Policy. The move comes after uncertainty over approvals at the start of the financial year led to disruptions in bullion imports.
According to the notification, around 15 banks have been authorised to import both gold and silver for a three-year period from April 1, 2026, to March 31, 2029. A few additional banks are permitted to import only gold. The updated list includes major public and private sector lenders such as State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and others.
The government’s decision is expected to immediately clear pending consignments that were stuck at customs due to the absence of formal authorisation. Industry sources had earlier reported that several tonnes of gold and silver were held up, creating temporary supply disruptions in the domestic market.
Officials said the update is part of routine amendments under the Foreign Trade Policy framework, aimed at ensuring that bullion imports are handled only through designated banking channels. The system is designed to maintain regulatory oversight while allowing smooth flow of precious metals into the country.
The delay in issuing the notification had created confusion among banks and importers, forcing some institutions to pause new import orders. With the latest clarification, banks are now expected to resume normal operations and clear existing shipments.
Market participants believe the move will stabilise supply conditions in the bullion market, especially ahead of seasonal demand periods such as festivals and weddings, when gold consumption typically rises.
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