Commerce Ministry Authorises Russia's Sber Bank for Gold Imports in FY26

• Commerce Ministry added Russia's Sber Bank to the list of authorised gold importers for FY26.
• The Directorate General of Foreign Trade (DGFT) issued a public notice for this amendment to Appendix 4B of the Handbook of Procedures, 2023.
• Sber Bank's authorisation is valid from June 25, 2025, to March 31, 2026, strictly for domestic consumption.
• Previously, only Indian Overseas Bank and Union Bank of India were permitted to import gold in the current financial year.
• This move aims to diversify import channels and enhance supply flexibility while maintaining regulatory oversight.

Why It Matters: Sber Bank's inclusion diversifies India's gold import channels, enhancing supply flexibility for FY26.