Banks Authorized to Import Gold or Silver in India

In the olden days, banks were allowed only to deal with money. They were not allowed to deal with gold and silver. Nowadays this is not the case since the market of gold and silver is very good and is producing more gain for investors, sellers, and consumers. So, both the public sectors and private sector banks are showing interest in importing gold and silver.

The Reserve Bank of India allows the banks to import gold and silver. They hold complete control over the banks. Recently, the reserve bank allowed four more banks to import gold and silver. The headquarters of Allahabad bank in Kolkata,

West Bengal is authorized to import gold and silver. The Anna Salai branch of Indian overseas bank is authorized to import gold and silver. In Mangalore, near pandeshwar the corporation bank authorized to import gold and silver.

The Canara bank’s branch in Bangalore, State bank of India banks branch in Mumbai and Union bank’s branch in Nariman point are also authorized to import gold and silver.

Some of the private banks are also allowed to import gold and silver. The Kotak Mahindra Bank, ICICI Bank, Dena Bank, HDFC Bank, and Syndicate Bank are some of the authorized private banks.

Banks Authorized to Import Gold or Silver

NameAddressStateTelephoneFax No.
Allahabad BankHead Office, 2 N.S. Road Kolkata – 700001West Bengal033-22319144 033-22107425 
Bank of Nova Scotia 82 “C” Wing, Mittal Tower, 8th Floor, Nariman Point, Mumbai – 400 021 Maharashtra (91-22) 22836765(91-22) 6655 1056 
Bank of IndiaStar House, C – 5, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Maharashtra 022-66684444 
Canara BankHead Office, M & CRM Wing, No.112, Head Office, BangaloreKarnataka080 – 22239295
Corporation BankCorporate Office, Mangladevi Temple Road, Pandeshwar, Mangalore 575 001 Karnataka91 – 824 – 2426416 
91 -824 -2440964
Dena BankDena Corporate Centre, C-10, G-Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051Maharashtra (022) 26545758
HDFC Bank Ltd.Ramon House, 169, Backbay Reclamation, H T Parekh Marg, Churchgate, Mumbai – 400 020 Maharashtra 91 (22) 66316000
91 (22) 22048834
ICICI Bank Ltd.9th Floor, South Towers, ICICI Towers, Bandra Kurla Complex Bandra (E), MumbaiMaharashtra 91-022-653 7914 
Indian Overseas BankHead Office, Central Office 762, Anna Salai, P.B.No.3765 Chennai-600 002 Tamil Nadu044-28519445
IndusInd Bank Ltd.701/801 Solitaire Corporate Park, 167, Guru Hargovindji Marg, Andheri – (E), Mumbai – 400 093 Maharashtra 022 6641 2200022 6641 2224
Oriental Bank of CommerceHarsha Bhawan, E- Block, Connaught Place, New Delhi – 110001 Delhi91-11-2341712191-11-23310013 
Punjab National BankStreet 7, Bhikaji Cama Place, New Delhi 110066 Delhi91-11-26102303
State Bank of IndiaCorporate Centre, Madame Cama Road, Mumbai – 400 021 Maharashtra 
Union Bank of India 239 Vidhan Bhavan Marg, Central Office, Nariman Point, Mumbai -21 Maharashtra (022) 22892000
Axis Bank Limited131, Maker Tower – F, Cuffe Parade, Colaba, Mumbai – 400 005.Maharashtra (022) 6707 4407(022) 2218 6944
Indian BankPB No.1384, 66, Rajaji Salai, Chennai 600 001 Tamil Nadu044-25233231044-25231278
Kotak Mahindra Bank Ltd.Bakhtawar, II nd Floor, 229, Nariman Point, Mumbai 400021 Maharashtra 
Syndicate BankHead Office, Post Box No.1, Manipal 576 104, Udupi Karnataka 0820 2571181 0820-2570266      
Federal Bank Ltd.Federal Towers, Aluva – 683 101 Kerala91-484-2623620 91-484-2622672 

Bank in India

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