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Date: 09-Feb-2024 Category: Extra Ordinary State: Union Government Country: India

Corrigendum to Public Notice no. 28/2023 dated 18.08.2023

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • This gazette notification pertains to a corrigendum to Public Notice No. 28/2023, dated 18.08.2023, issued by the Directorate General of Foreign Trade (DGFT).
  • The corrigendum modifies the headings of Table A and Table B of the original public notice, which relate to the lists of banks authorized by the Reserve Bank of India (RBI) to import gold and/or silver.
  • The modification clarifies that the lists of authorized banks are effective from April 1, 2023, and valid until March 31, 2024.

Key Changes

  • The existing headings of Table A and Table B in Public Notice No. 28/2023 have been amended.
  • The original headings stated that the lists of banks were 'VALID UPTO MARCH 31, 2024'.
  • The revised headings now state that the lists are 'WITH EFFECT FROM 01.04.2023 AND VALID UPTO 31.03.2024'.
  • Table A refers to the list of banks authorized by the RBI to import both gold and silver for FY 2023-24.
  • Table B refers to the list of banks authorized by the RBI to import only gold for FY 2023-24.

Impact Analysis

Banks Authorized for Gold/Silver Import

  • Action Item: Banks should ensure their import activities are aligned with the specified validity period to maintain compliance.

Businesses Trading in Gold/Silver

  • Action Item: Businesses should verify that they are dealing with banks authorized during the period from April 1, 2023, to March 31, 2024.

Regulatory Bodies (RBI, DGFT)

  • Action Item: Regulatory bodies should ensure effective communication and implementation of the amended policy.

Key Entities Referenced

Directorate General of Foreign Trade (DGFT): The issuing authority for the public notice and corrigendum, responsible for foreign trade policy. Reserve Bank of India (RBI): The central bank of India, responsible for authorizing banks to import gold and silver. Foreign Trade Policy 2023: The overarching policy framework under which the DGFT operates and issues notifications related to import/export. Public Notice No. 28/2023: The original notification dated 18.08.2023, which this corrigendum amends.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-10022024-251988 xxxGIDHxxx CG-DL-E-10022024-251988 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 30] नई दिल्ली, िुक्रवार, फरवरी 9, 2024/माघ 20, 1945 No. 30] NEW DELHI, FRIDAY, FEBRUARY 9, 2024/MAGHA 20, 1945 Okkf.kT; ,oa m|ksx ea=ky; (Okkf.kT; foHkkx) (fons'k O;kikj egkfuns'kky; ) 'kqf)i= नई दिल्ली, 9 फरवरी, 2024 fo"k;% fnukad 18-08-2023 dh lkoZtfud lwpuk la- 28@2023 gsrq 'kqf)i= ds laca/k esaA Qk- la- 01@94@180@261@,,e18@ihlh&4.—le;≤ ij ;Fkkla”kkfs/kr fons'k O;kikj uhfr 2023 ds iSjk 1-03 vkSj 2-04 ds rgr iznÙk “kfDr;ksa dk iz;ksx djr s gq, egkfuns”kd] fons”k O;kikj ,rn~}kjk fnukad 18-08-2023 dh lkoZtfud lwpuk 28@2023 dh rkfydk d vkSj rkfydk [k ds “kh’kZdk sa eas fUkEukuqlkj vkaf”kd la”kk/s ku djr s gSa% rkfydk d dk ekStwnk 'kh’kdZ rkfydk d dk la'kksf/kr 'kh’kdZ d-foÙkh; o’kZ 2023&24 ds fy, lkus k vkSj pkna h] nkus ks a foÙkh; o’kZ 2023&24 ds fy, lkus k vkSj pkna h] nksuksa ds ds vk;kr gsrq Hkkjrh; fjtoZ cSad }kjk izkf/k—r cSadks vk;kr gsrq Hkkjrh; fjtoZ cSad }kjk izkf/k—r cSadks dh dh lwph] 31 ekpZ] 2024 rd oS/kA lwph 01-04 2023 ls ykxw vkSj 31-03-2024 rd oS/kA Rkkfydk [k dk ekStwnk 'kh’kZd Rkkfydk [k dk l'a kksf/kr 'kh’kdZ [k-foÙkh; o’kZ 2023&24 ds fy, dsoy lksu s ds vk;kr foÙkh; o’kZ 2023&24 ds fy, dsoy lksu s ds vk;kr grs q grs q Hkkjrh; fjt+oZ cSad }kjk izkf/k—r cSdks a dh lwph 31 Hkkjrh; fjt+oZ cSad }kjk izkf/k—r cSdks a dh lwph 01-04 ekpZ] 2024 rd oS/kA 2023 ls ykxw vkSj 31-03-2024 rd oS/kA 903 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] bl 'kqf)i= dk izHkko% fnukad 18-08-2023 dh lkoZtfud lwpuk la- 28@2023 dh rkfydk d vkSj rkfydk [k ds “kh’kZdksa dk s fnukad 1 vizSy] 2023 ls ykxw djus grs q cSdkas dh lwph dk s vkaf”kd :Ik ls la”kkfs/kr fd;k x;k gSA larks"k dqekj lkjaxh Ekgkfuns'kd] fons'k O;kikj ,oa Iknsu vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) CORRIGENDUM New Delhi, the 9th February, 2024 Subject: Corrigendum to Public Notice no. 28/2023 dated 18.08.2023-reg. F. No. 01/94/180/261/AM18/PC-4.—In exercise of powers conferred under Paragraph1.03 & 2.04 of the Foreign Trade Policy 2023, as amended from time to time, the Directorate General of Foreign Trade hereby partially modifies the headings of Table A and Table B of Public Notice No. 28/2023 dated 18.08.2023 as follows: Existing heading of Table A Revised heading of Table A A. LIST OF BANKS AUTHORISED BY RESERVE A. LIST OF BANKS AUTHORISED BY RESERVE BANK OF INDIA TO IMPORT BOTH GOLD AND BANK OF INDIA TO IMPORT BOTH GOLD AND SILVER FOR FY 2023-24 VALID UPTO MARCH 31, SILVER FOR FY 2023-24 WITH EFFECT FROM 2024 01.04.2023 AND VALID UPTO 31.03.2024. Existing heading of Table B Revised heading of Table B B. LIST OF BANKS AUTHORISED BY RESERVE B. LIST OF BANKS AUTHORISED BY RESERVE BANK OF INDIA TO IMPORT ONLY GOLD FOR FY BANK OF INDIA TO IMPORT ONLY GOLD FOR FY 2023-24 VALID UPTO MARCH 31, 2024. 2023-24 WITH EFFECT FROM 01.04.2023 AND VALID UPTO 31.03.2024. Effect of this Corrigendum: The heading of Table A and Table B of Public Notice No. 28/2023 dated 18.08.2023 have been partially modified to make the list of banks effective from the 1st of April, 2023. SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex-officio Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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