India authorises banks for gold and silver imports under DGFT regime
Bullion imports blocked without DGFT-authorised banks
Change
India authorised 15 banks to import gold and silver and linked customs clearance to valid DGFT import approvals.
Why it matters
Shipments without DGFT authorisation cannot clear customs, creating a strict approval requirement for bullion imports.
Implications
- — Imports restricted to authorised banks — access limited
- — Cargoes held without approval — clearance delays
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