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      Question

      The Directorate General of Foreign Trade authorized 17

      banks to import gold and silver until March 2029. How many banks are permitted to import both gold and silver, and how many can import only gold?
      A 14 banks both; 3 banks only gold Correct Answer Incorrect Answer
      B 15 banks both; 2 banks only gold Correct Answer Incorrect Answer
      C 16 banks both; 1 bank only gold Correct Answer Incorrect Answer
      D 13 banks both; 4 banks only gold Correct Answer Incorrect Answer
      E 12 banks both; 5 banks only gold Correct Answer Incorrect Answer

      Solution

      DGFT updated the list authorising 15 banks to import both gold and silver and 2 banks (Union Bank of India and SBER Bank) to import only gold. The authorisation is effective from April 1, 2026 and valid till March 31, 2029, granted through amendments in Appendix 4 of the Handbook of Procedures, 2023 under FTP 2023.

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