Export of gold scrap allowed for authorised banks, enabling refining abroad and re-import as standard gold bars. A bank authorised by the Reserve Bank of India is permitted to export gold scrap for refining abroad and to re-import the refined product as standard gold bars; this allowance was added to the Export and Import Policy under the Central Government's powers in the Foreign Trade (Development and Regulation) Act, 1992 and issued by notification for public interest.