The Directorate General of Foreign Trade (DGFT) has amended the Handbook of Procedures, 2023, to include Indian Overseas Bank, Union Bank of India and SBER Bank in the list of banks authorised to import gold for the financial year 2025–26. 

The amendment was notified through Public Notice No. 40/2025-26, issued by the Ministry of Commerce and Industry.

The inclusion has been made under Part B of Appendix 4B of the Handbook of Procedures, which specifies banks authorised by the Reserve Bank of India to import gold. As per the notification, SBER Bank is permitted to import gold exclusively for domestic consumption, with the authorisation taking effect from June 25, 2025, and remaining valid until March 31, 2026.

The amendment has been carried out in exercise of powers conferred under paragraphs 1.03 and 2.04 of the Foreign Trade Policy (FTP), 2023, as amended from time to time.

With this update, the list of authorised banks for gold import during FY 2025–26 includes Indian Overseas Bank, Union Bank of India, and now SBER Bank, subject to the specific conditions mentioned in the notification.

According to the DGFT, the move is aimed at streamlining gold imports within the regulatory framework of the FTP, while ensuring tighter control over imports meant solely for domestic consumption.

The public notice was issued from Vanijya Bhawan, New Delhi, and has been published in the Gazette of India (Extraordinary). The amendment is expected to have implications for bullion trade and authorised banking channels involved in gold imports during the remainder of the financial year.

Notification Details

Public Notice No. 40 of 2025-26

Date: 19/12/2025

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