Public Notice No. 40/2025-26-Customs, Dated 19-12-2025
1. Regulatory Background
The Director General of Foreign Trade (DGFT), exercising powers under paragraphs 1.03 and 2.04 of the Foreign Trade Policy (FTP), 2023, has issued a Public Notice amending Appendix 4B of the Handbook of Procedures (HBP), 2023.
The amendment expands the list of banks authorised by the Reserve Bank of India (RBI) to import gold during FY 2025–26.
2. Inclusion of SBER Bank
Pursuant to the amendment:
- SBER Bank has been included in the list of RBI-authorised banks permitted to import only gold.
- The authorisation is valid from 25 June 2025 to 31 March 2026.
This inclusion enables SBER Bank to participate in regulated gold imports within the defined policy framework.
3. Scope and Conditions of Authorisation
The authorisation granted to SBER Bank is subject to the following conditions:
- Product scope – Import of gold only
- Purpose – Domestic consumption only
- Validity period – 25-06-2025 to 31-03-2026
- Policy framework – FTP 2023 and HBP 2023
No other precious metals or purposes are covered under this authorisation.
4. Updated List of Authorised Banks (Appendix 4B)
With the amendment, Appendix 4B now lists the following banks authorised to import gold for FY 2025–26:
- Indian Overseas Bank
- Union Bank of India
- SBER Bank
Only these banks are eligible to undertake gold imports under the specified policy conditions.
5. Regulatory Intent
The amendment aims to:
- Ensure controlled and transparent import of gold
- Align authorised import channels with RBI oversight
- Facilitate adequate supply for domestic consumption
- Provide clarity and certainty to bullion market participants
6. Compliance Takeaways
Banks and market participants should:
- Ensure gold imports are routed only through the authorised banks
- Adhere strictly to validity timelines and domestic-use conditions
- Update internal trade, compliance, and customs documentation in line with the amended Appendix 4B
- Monitor any further DGFT/RBI updates impacting precious-metal imports
Non-compliance may result in denial of import benefits, customs objections, or policy violations.
7. Key Takeaway
DGFT has added SBER Bank to the RBI-authorised list of banks permitted to import gold for domestic consumption for FY 2025–26, valid from 25 June 2025 to 31 March 2026, alongside Indian Overseas Bank and Union Bank of India.
