17 banks get govt nod to import bullion
Indian Express·2h ago·Neutral
What Happened
The Indian government Friday authorized 17 banks to import bullion for three years starting April 1, 2025. The list includes State Bank of India, HDFC Bank, and Industrial and Commercial Bank of China. Two additional banks received gold-only import authorization. The delay had reportedly halted gold imports and left over 5 tonnes of gold stuck without customs clearance.
Key Entities
Indian GovernmentDGFTRBIState Bank of IndiaHDFC BankIndustrial and Commercial Bank of ChinaUnion Bank of IndiaSberbankDeutsche BankIndian Overseas Bank