New Delhi, April 17 -- The Directorate General of Foreign Trade (DGFT) on Friday authorised 17 banks to import precious metals for the period from 1 April to March 2029, according to an official order.

Of these, Union Bank of India and Russia- headquartered SBER Bank are authorised to import only gold, while 15 others, including Axis Bank Ltd, State Bank of India, Indian Overseas Bank, and HDFC Bank Ltd, are authorised to import both gold and silver, the order showed. Bank of India, Deutsche Bank, Federal Bank Ltd and Industrial and Commercial Bank of China Ltd are also on the list.

In FY26, Indian Overseas Bank was authorised to import only gold, which has now been expanded to both precious metals, the order showed. SBER Bank was inclu...