List of Banks authorized to import Gold and Silver in India (As on Jan 08, 2011).If you want to buy gold for an investment, then buying gold coins/bars is good option compared to jewellery.

Checkout list of government authorised to Import Gold and Silver.

1. Allahabad Bank
2. Andhra Bank
3. Axis Bank Ltd
4. Bank of Baroda
5. Bank of India
6. Bank of Nova Scotia
7. Canara Bank
8. Central Bank of India
9. Corporation Bank
10. Federal Bank Ltd
11. HDFC Bank Ltd
12. ICICI Bank Ltd
13. Indian Bank
14. Indian Overseas Bank
15. IndusInd Bank Ltd
16. Karur Vysya Bank Ltd
17. Kotak Mahindra Bank Ltd
18. Oriental Bank of Commerce
19. Punjab and Sind Bank
20. Punjab National Bank
21. South Indian Bank Ltd
22. Standard Chartered Bank
23. State Bank of Bikaner and Jaipur
24. State Bank of Hyderabad
25. State Bank of India
26. State Bank of Mysore
27. State Bank of Patiala
28. State Bank of Travancore
29. Syndicate Bank
30. Union Bank of India

Availability of gold coins

Gold Coins are available at Bank branches, please contact respective bank branches for more information.

[Source: www.rbi.org.in ]