RBI Clears Path For Gold And Silver Imports, 15 Banks Onboard

India’s central bank has granted approval to 15 leading banks to import gold and silver for a three-year period. The decision is expected to strengthen India’s bullion trade, ensure steady supply for domestic demand, and enhance the country’s position in the global precious metals market.

Bank Authorization

The list of permitted banks includes major public and private sector institutions such as State Bank of India, Axis Bank, Bank of India, and HDFC Bank. Their participation will streamline imports and improve accessibility for jewelers, traders, and industrial users.

Market Impact

Industry experts believe the move will stabilize prices, reduce volatility, and support India’s jewelry and manufacturing sectors. With gold and silver being integral to both cultural traditions and industrial applications, the authorization is seen as a strategic step toward economic resilience.

Key Highlights

• RBI permits 15 banks to import gold and silver
• Approval valid from April 1, 2026, to March 31, 2029
• Includes SBI, Axis Bank, Bank of India, HDFC Bank
• Expected to stabilize bullion supply and prices
• Boost to jewelry and industrial sectors

Sources: RBI Release, Economic Times, Business Standard, Moneycontrol