RBI Powers to Allow Gold Import Limited to Banks, DGFT Takes Powers to Nominate Other Agencies

· Minister Goyal Personally Approves Notification

[DGFT Notification No. 22 /2015-2020 dated 2 September, 2021]

Subject: Incorporation of Explanation in Notification No.36/2015-2020 dated 18^th December, 2019

S.O. (E): In exercise of powers conferred by Section 3 read with Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby incorporates following explanation in the notification No.36/2015-2020 dated 18th December, 2019, as under:

Explanation: The expression "Gold in any form" includes gold in any form above 22 carats under Chapter 71 of lTC (HS), 2017, Schedule - I (Import Policy). Such imports can be made only by nominated agencies as notified by RBI (in case of banks) and DGFT (in case of others).

This issues with the approval of Minister of Commerce & Industry.

(F.No. 0l/89/180/36/AM- 11/PC-2 [A]/Part-II/e-1717)