CBIC Announces Revised Bank Lists 34A & 34B under the Customs Act, Starting from April 1, 2025:

CBIC Announces Revised Bank Lists 34A & 34B under the Customs Act, Starting from April 1, 2025 The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 24/2025-Customs, dated April 28, 2025, to make changes to an earlier notification—Notification No. 50/2017-Customs. As per this new notification, Lists 34A and 34B in the annexure of the earlier notification have been updated. List 34A now includes 13 banks, such as Axis Bank Limited, HDFC Bank Limited, Yes Bank Limited and 10 other banks. List 34B now includes Indian Overseas Bank and Union Bank of India. These changes will be valid from April 1, 2025, to March 31, 2026. This change has been made by the Central Government using the powers given under Section 25(1) of the Customs Act, 1962, and Section 3(12) of the Customs Tariff Act, 1975. The government made these changes in the public interest. As a result, the old entries in Lists 34A and 34B in the annexure to Notification No. 50/2017-Customs have now been replaced with the updated lists, which are linked to Serial No. 359A of the table in the notification. Let me know if you’d like the full list of the 13 banks in List 34A.

• Axis Bank Limited
• Bank of India
• Federal Bank Limited
• HDFC Bank Limited
• Industrial and Commercial Bank of China Limited
• ICICI Bank Limited
• IndusInd Bank Limited
• Kotak Mahindra Bank Limited
• Karur Vysya Bank Limited
• Punjab National Bank
• RBL Bank Limited
• State Bank of India
• Yes Bank Limited

This list now includes the following 2 banks-Effective from April 1, 2025, to March 31, 2026

• Indian Overseas Bank
• Union Bank of India

For more information, refer to the notice PDF below