RBI Cracks Down: Strict New Gold-Silver Import Rules for Traders—Effective Oct 1, 2026

Published on: 17 Jan 2026 at 03:55 PM

Published by: Gill Bikram

RBI Cracks Down: Strict New Gold-Silver Import Rules for Traders—Effective Oct 1, 2026

The Reserve Bank of India (RBI) issued stringent guidelines for precious metals imports, targeting gold and silver to bolster economic security and curb illegal money flows.

🚫 No More Advance Payments

Ban: Importers can’t send advance payments to foreign bullion sellers from Oct 1.
Earlier Practice: Traders often remitted forex upfront, but goods sometimes never arrived.
New Rule: Complete prohibition to prevent misuse.

🔍 Why the Tough Measures?

Anti-Money Laundering: Stops fake imports used to siphon forex abroad.
FEMA Compliance: Enhances transparency in foreign exchange management.
Reserve Protection: Safeguards India’s forex reserves from abuse.

⚠️ Penalties for Violations

Immediate repatriation of remitted funds if imports don’t materialize.
Strict conditions like international bank guarantees for defaulters.

✅ Relief for Other Traders

Banks’ Flexibility: For non-bullion imports, banks can set advance payment limits.
Third-Party Payments: Easier transactions with group foreign entities.