Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

IMPORT CENTRES
Bullion imports can be cleared through 8 international airports.
North New Delhi
West Mumbai, Ahmedabad, Goa
East Kolkata
South Chennai, Bangalore, Hyderabad
They can also be cleared at 6 domestic airports having been trans-shipped directly from the international airports.
Customs duty is paid at the time the bank clears the imported bars at an international airport.
While Customs duty applies nationally, some States and cities have sometimes levied lower rates of Sales and other taxes
than others. When this has occurred, notably in Ahmedabad, and Jaipur, and recently (in 2002) in Mumbai and Gurgaon, a
disproportionate level of bullion imports can gravitate to these cities – for distribution regionally, and sometimes nationally.
BANK BRANCHES
The 10 active banks have Gold Cells in 34 cities in 16 States and UT’s.
The distribution network of bank Gold Cell branches has increased progressively from 7 in 1997 to 111 in early 2002.
Region No of cities Total Gold
covered Cell branches
South 13 39
North 9 30
West 9 31
East 3 11
Total 34 111
While the number of active branches does not necessarily equate to the quantity of bullion imported, the number of cities
served by each bank is as follows:
62
BANKS
Public Sector Banks No of Gold Cell branches
State Bank of India 31
Corporation Bank 17
Punjab National Bank 13
Indian Overseas Bank 8
Allahabad Bank 7
Bank of India 6
Total 82
Foreign Banks
Standard Chartered Bank 9
ABN-AMRO Bank 8
Bank of Nova Scotia 6
HSBC 6
Total 29
AN INTRODUCTION TO THE INDIAN GOLD MARKET