The Ministry of Finance (Department of Revenue) has issued Notification No. 24/2025-Customs, introducing key amendments to the long-standing Notification No. 50/2017-Customs, originally dated June 30, 2017. Acting under the powers granted by the Customs Act, 1962 and the Customs Tariff Act, 1975, the Central Government has updated the list of authorized banks designated for customs duty transactions, with changes effective from April 1, 2025 and valid up to March 31, 2026.
According to the new notification, List 34A and List 34B under the Annexure to the Table have been revised.
Official copy of the notification is as follows
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 28th April, 2025
No. 24/2025-Customs
G.S.R. 268(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 50/2017- Customs, published in the Gazette of India , Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R 785 (E), dated the 30th June 2017, namely:-
In the said notification, in the Annexure to the Table, for List 34A and List 34B, and the entries relating thereto,
the following Lists and entries shall respectively be substituted, namely:-
"List 34A (See S. No. 359A of the Table) – with effect from 1st April, 2025 and valid upto 31st March, 2026:
1. Axis Bank Limited
2. Bank of India
3. Federal Bank Limited
4. HDFC Bank Limited
5. Industrial and Commercial Bank of China Limited
6. ICICI Bank Limited
7. IndusInd Bank Limited
8. Kotak Mahindra Bank Limited
9. Karur Vysya Bank Limited
10. Punjab National Bank
11. RBL Bank Limited
12. State Bank of India
13. Yes Bank Limited
List 34B (See S. No. 359A of the Table)- with effect from 1st April, 2025 and valid upto 31st March, 2026:
1. Indian Overseas Bank
2. Union Bank of India.".
[F. No. 190354/35/2023-TRU]
DHEERAJ SHARMA, Under Secy.
Note: The principal notification No. 50/2017-Customs, dated the 30th June, 2017 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017 and last amended vide notification No. 23/2025-Customs, dated the 4th April, 2025 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 218(E), dated the 4th April, 2025.
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