Current · Source: Reserve Bank of India · RBI/2011-12/484 · issued 03 Apr 2012 · ~2 min read
Quick answerRBI has replaced the monthly gold import statement with two new formats: a half-yearly statement (March/September) and a monthly statement, both due by the 10th of the following period. This rationalizes reporting for nominated banks, EOUs, and SEZs in the gem and jewellery sector.
The rule, in the simplest words
Submit a half-yearly statement (end-March/end-September) showing gold imports by nominated banks/agencies/EOUs/SEZs in the gem and jewellery sector, with payment mode details.
Submit a monthly statement showing gold imports by nominated agencies (other than nominated banks)/EOUs/SEZs in the gem and jewellery sector, with cumulative financial year data.
Both statements must be submitted by the 10th of the following month/half-year, even if there is a 'nil' position.
How it plays out — a real example
At the end of March, Rohan, a forex & trade-finance officer in Indore, prepares the half-yearly statement for his bank, detailing the quantity and value of gold imported by nominated banks/agencies/EOUs/SEZs in the gem and jewellery sector, with payment mode breakdown. He ensures that the statement is submitted to RBI's Trade Division by the 10th of April, even though there is no 'nil' position to report. Rohan also verifies that the cumulative monthly data for the financial year is accurately captured in the monthly statement, which is submitted separately.
What changed
RBI replaced the single monthly statement on gold imports (from EOUs, SEZs, and nominated agencies) with two separate statements: a half-yearly statement (end-March/end-September) covering all importers with payment mode details, and a monthly statement for non-bank nominated agencies, EOUs, and SEZs. Both statements must be submitted even if nil, and can be emailed.
What it means for you
Banks must now track and report gold imports under two distinct timelines and formats, increasing operational complexity. The half-yearly statement requires payment mode breakdown (e.g., suppliers credit, consignment), while the monthly statement focuses on cumulative financial year data. This rationalization aims to improve data granularity for RBI's monitoring of gold imports.
What you must do
Update internal reporting systems to generate the half-yearly statement (Annex A) and monthly statement (Annex B) as per new formats.
Ensure both statements are submitted to RBI's Trade Division by the 10th of the following month/half-year, even for nil positions.
Train staff on the new payment mode categories (delivery, suppliers credit, consignment, unfixed price) for the half-yearly report.
Verify that cumulative monthly data for the financial year is accurately captured in the monthly statement.
Who it affects
All Category-I Authorised Dealer banks, Nominated banks and agencies importing gold, Export Oriented Units (EOUs) in gem and jewellery sector, Units in SEZs/EPZs in gem and jewellery sector
❓ Common questions
What is the deadline for submitting the new gold import statements?
Both the half-yearly and monthly statements must reach RBI's Trade Division by the 10th of the following month or half-year. For example, the half-yearly statement for March-end is due by April 10.
Do we need to submit these statements even if there are no gold imports?
Yes, both statements must be submitted even if there is a 'Nil' position. This ensures RBI has a complete record of all reporting periods.
Can we submit these statements via email?
Yes, RBI has allowed submission by email in addition to physical submission. Check with your regional RBI office for the specific email address.
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/484
A. P. (DIR Series) Circular No.103
April 03, 2012
To
All Category – I Authorised Dealer Banks
Madam / Sir,
Data on import of Gold – Statements – Modification
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Para 4(v) of A.P. (DIR Series) Circular No.2 dated July 9, 2004 , in terms of whichAD Category – I banks are required to submit to FED, CO, RBI a monthly statement regarding the number of transactions and value in USD million and Rupees in crores of gold imported by (i) Export Oriented Units (EOUs), (ii) Units in SEZ/EPZ, and (iii) Nominated Agencies/Banks.
2. It has been decided to further rationalize the entire reporting system on import of gold. Accordingly, A.D. Category-I banks shall henceforth submit the following statements to the Chief General Manager, Reserve Bank of India, Foreign Exchange Department, Central Office, Trade Division, Amar Building, Fort, Mumbai-400001:
(i) Statement on half yearly basis (end March / end September) showing the quantity and value of gold imported by the nominated banks/ agencies/ EOUs/ SEZs in Gem & Jewellery sector, mode of payment-wise, as per Annex 'A' ;
(ii) Statement on monthly basis showing the quantity and value of gold imports by the nominated agencies (other than the nominated banks)/ EOUs/ SEZs in Gem & Jewellery sector during the month under report as well as the cumulative position as at the end of the said month beginning from the 1st month of the Financial Year, as per Annex 'B' .
Both the statements shall be submitted, even if there is 'Nil' position and they should reach the aforesaid office of RBI by the 10th of the following month / half year to which it relates. The statements may also be submitted by e-mail .
3. The other terms & conditions mentioned in the A.P. (DIR Series) Circular No. 2 dated July 9, 2004 remain unchanged.
4. The directions contained in this circular have been issued under sections 10 (4) and 11 (2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Dr. Sujatha Elizabeth Prasad)
Chief General Manager-in-Charge
Annex - 'A'
Statement on Import of Gold for the half year ended.
Name of the Bank:
Mode of payment
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/484 · issued 03 Apr 2012. The plain-English explanation above is BankPulse’s own independent summary.
Update internal reporting systems to generate the half-yearly statement (Annex A) and monthly statement (Annex B) as per new formats.
📜 Compliance
Ensure both statements are submitted to RBI's Trade Division by the 10th of the following month/half-year, even for nil positions.
Train staff on the new payment mode categories (delivery, suppliers credit, consignment, unfixed price) for the half-yearly report.
Verify that cumulative monthly data for the financial year is accurately captured in the monthly statement.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (All Category-I Authorised Dealer banks, Nominated banks and agencies importing gold, Export Oriented Units (EOUs) in gem and jewellery sector, Units in SEZs/EPZs in gem and jewellery sector), your first concrete step on “RBI Revamps Gold Import Reporting for AD Banks” is: “Update internal reporting systems to generate the half-yearly statement (Annex A) and monthly statement (Annex B) as per new formats.” (RBI issued this 03 Apr 2012).
Circular: RBI/2011-12/484 -- RBI Revamps Gold Import Reporting for AD Banks
Issued: 03 Apr 2012
Action required: Update internal reporting systems to generate the half-yearly statement (Annex A) and monthly statement (Annex B) as per new formats.
Action required: Ensure both statements are submitted to RBI's Trade Division by the 10th of the following month/half-year, even for nil positions.
Action required: Train staff on the new payment mode categories (delivery, suppliers credit, consignment, unfixed price) for the half-yearly report.
Action required: Verify that cumulative monthly data for the financial year is accurately captured in the monthly statement.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7108&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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