Russia's Sberbank allowed to import gold into India

New Delhi: India on Friday added Russia's Sberbank to the list of banks permitted to import gold into the country.

"The name of the Sberbank has been included in the list of banks authorised to import only gold applicable with effect from June 25, 2025 till March 31, 2026," Directorate General of Foreign Trade said in a public notice.

The lndian Overseas Bank and Union Bank of India are the other two banks in the list of banks authorised by Reserve Bank of India to import only gold for FY26.


As per the Reserve Bank of India, 16 banks in total are authorised to import gold for that period

Sberbank has a full banking licence to operate in India. The bank possesses the largest share of India-Russia trade payments and is also looking to channel rupee surplus of its investors into government securities.