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of <h1>India Proposes New Gold Import Scheme for NRIs to Enhance Safety and Ease Collection at Select Locations.</h1> The Government of India has proposed modifications to the Gold Import Scheme to eliminate the need for NRIs to physically carry gold, addressing safety concerns during late-night and early-morning flight arrivals. Under the new scheme, the State Bank of India (SBI) and MMTC will import gold on a consignment basis, storing it in private customs bonded warehouses outside customs areas at international airports or designated city branches. Initially, the scheme will be implemented in Bombay, Delhi, and Trivandrum. Passengers must file a gold declaration upon arrival, which will be treated as a bill of entry. Eligibility and customs duty will be assessed, and upon payment, passengers can collect their gold. The scheme's operational details are being finalized.
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