On Thursday (28 March), RBI released the list of banks authorized to import gold and silver during the financial year 2024-25. Banks which have been authorized by the government to import gold and silver. The names of 11 banks including HDFC Bank and ICICI Bank are included in them. Let us tell you, the list of banks authorized to import gold and silver is released by the Reserve Bank of India for every new financial year.
Will be able to import till 31 March 2025
In the information issued by the Central Bank, it was told that these banks can import gold and silver into the country from abroad till March 31, 2025. Indian Overseas Bank, Punjab National Bank and Union Bank of India – have been given permission by the Reserve Bank to import only gold for 2024-25 from April 1 this year, DGFT said.
The Directorate General of Foreign Trade (DGFT) said in a public notice that the list of banks authorized to import gold/silver has been updated. Three banks – Indian Overseas Bank, Punjab National Bank and Union Bank of India – have been authorized by the Reserve Bank to import only gold for 2024-25 from April 1 this year.
Gold worth 44 billion dollars was imported
During April-February in the current financial year, gold import increased by 38.76 percent to 44 billion dollars. However, silver imports declined by 11.53 percent to $4.62 billion during this period.
Gold price near 67000
In the country’s capital Delhi, the rate of 24 carat gold is running at Rs 67,350 per 10 grams. At the same time, the price of silver is running at Rs 77,450 per kg. Gold is currently trading near all-time high.
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