The Reserve Bank of India on 4 January 2011 permitted seven more banks including four associate banks of State Bank of India to import precious metals, gold and silver. The seven banks that obtained permission from RBI were- South Indian Bank, Karur Vysya, State Bank of Hyderabad, State Bank of Bikaner, State Bank of Travancore, State Bank of Mysore and Punjab and Sind Bank. With the addition of seven banks by RBI the number of banks allowed to import the precious metals moved to 30.
RBI Permitted Seven Banks to Import Precious Metals
By Jagranjosh
Mar 10, 2011, 15:27 IST
RBI permitted seven more banks including four associate banks of State Bank of India to import precious metals.
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