Directorate General of Foreign Trade (DGFT) Authorises Banks to Import Gold and Silver

Exam-focused facts from the 20 April 2026 current affairs briefing.

Key facts

The Directorate General of Foreign Trade (DGFT) has authorised 15 banks to import both gold and silver and two banks to import only gold for a period of three years.
The authorisation is effective from April 1, 2026, and remains valid until March 31, 2029.
The Reserve Bank of India (RBI) issued the list of nominated banks on April 6.
Banks authorised to import both gold and silver include Axis Bank, Bank of India, Federal Bank, HDFC Bank, Industrial and Commercial Bank of China, Deutsche Bank, Indian Overseas Bank, and Punjab National Bank.
Union Bank of India and Sberbank are authorised to import only gold.
Due to a delay in the notification, more than 5 metric tonnes of gold and around 8 metric tonnes of silver were stalled for customs clearance.