Page 25 - Bullion World Issue 6 October 2021

Bullion World | Issue 06 | October 2021

Silver Bullion

Importers

Canalising agencies
permitted to import silver
bullion

The best time to buy a
CombiBarTM was 10 years ago. Others
Nominated banks Nominated PSUs (Star and Premier Trading Houses &
The second best time is now.
(16 banks) 90% (four PSUs) 5-8% EoU* and specially permitted agencies
2-5%

Nominate Banks
Axis Bank MMTC Limited, Since 2017 Star & Premier Trade
STC Limited, Houses and EoU can only import for
Bank of Baroda
PEC Limited & own consumption. Diamond India
Bank of India
HEC Limited Limited is a specially permitted
Federal Bank Ltd.
agency to support SEZs and EoUs
HDFC Bank Ltd.
ICICI Bank Ltd.
Indian Overseas Bank
Imports of silver bullion regulated by RBI
IndusInd Bank Ltd.
Industrial and Commercial Tariff and customs duty administered by DGFT
Bank of China Ltd.
Karur Vysya Bank Ltd. Tariff is revised every fortnight. Like-wise customs notifies
Kotak Mahindra Bank Ltd. USD INR value.
Punjab National Bank
RBL (1800 tons), Yes Bank (1500 tons), HDFC Bank (1500
RBL Bank Ltd.
tons) are leading players.
State Bank of India
Union Bank of India MMTC Limited is the leader in PSU
Yes Bank Ltd.

Nominated agencies can do only consignment business. They cannot buy or sell or trade
in their own books. This restricts Indian bank’s ability to offer product structures. Also,
there is no Silver Metal Loan (a concessional lending

25