Govt updates list of banks authorised to import gold, silver during FY25
- Country:
- India
The government on Thursday updated the list of banks authorised to import gold and silver during 2024-25.
As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1.
The authorisation will be valid up to March 31 next year.
''List of banks authorised to import gold/silver...has been updated,'' the Directorate General of Foreign Trade (DGFT) said in a public notice.
Three banks -- Indian Overseas Bank, Punjab National Bank, and Union Bank of India -- have authorised by the RBI to import only gold for 2024-25 with effect from April 1 this year.
Gold imports rose 38.76 per cent to USD 44 billion during April-February this fiscal.
However, silver imports dipped 11.53 per cent to USD 4.62 billion during the period.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
HDFC Bank reports core net interest margin of 3.44 per cent on total assets.
HDFC Bank reports a significant increase in Q4 net profit, reaching Rs 17,622 crore
(Eds: Corrects to say preceding quarter) HDFC Bank's March quarter net profit rises 2.11 per cent to Rs 17,622.38 crore against Rs 17,257.87 crore in preceding Dec quarter.
HDFC Bank's March quarter net profit rises 2.11 per cent to Rs 17,622.38 crore against Rs 17,257.87 crore a year ago.
HDFC Bank Shares Dip over 1%, Market Cap Erodes by Rs 14,434 Crore