The Commerce Ministry has issued a fresh notification on gold and silver imports and authorised a new list of banks to handle imports.
The notification came into effect from April 1, 2026, and will remain valid until March 31, 2029. It has been issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry.
15 banks have been approved by the Reserve Bank of India to import both gold and silver:
- Axis Bank Limited
- Bank of India
- Deutsche Bank
- Federal Bank Limited
- HDFC Bank Limited
- Industrial and Commercial Bank of China Limited
- ICICI Bank Limited
- IndusInd Bank Limited
- Indian Overseas Bank
- Kotak Mahindra Bank Limited
- Karur Vysya Bank Limited
- Punjab National Bank
- RBL Bank Limited
- State Bank of India
- Yes Bank Limited
Banks authorised to import only gold
These two banks have been authorised to import only gold:
- Union Bank of India
- SBER Bank
The move comes after reports suggested delays in bullion imports as banks were awaiting a fresh government authorisation order. The development comes ahead of Akshaya Tritiya, considered the most important non-wedding buying season for Indian markets.
Akshaya Tritiya, or Akha Teej, is a highly auspicious Hindu and Jain festival celebrated in April/May (Vaishakha month), symbolizing eternal prosperity, success, and good fortune.
In 2026, it is celebrated on April 19, with the Tritiya Tithi starting at 10:49 AM and lasting until 07:27 AM on April 20, with the best puja time being 10:49 AM to 12:20 PM. It is considered ideal for buying gold, starting new ventures, and acts of charity.
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Buying gold and silver in Akshay Tritiya is believed to bring wealth and good fortune.
