List 34A, 34B Amendments – Customs Notification 50/2017

In a move aligned with the public interest and aimed at streamlining customs duty exemption procedures, the Central Government has issued a further amendment to Notification No. 50/2017-Customs, originally published on 30th June, 2017.

This latest amendment, made in exercise of powers conferred under Section 25(1) of the Customs Act, 1962 and Section 3(12) of the Customs Tariff Act, 1975, revises List 34A and List 34B as part of the Annexure to the notification’s Table. These changes come into effect from 1st April, 2025 and will remain valid until 31st March, 2026.

Updated Lists under Notification No. 50/2017-Customs

List 34A

(See S. No. 359A of the Table)
Effective from 1st April, 2025 to 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)
Effective from 1st April, 2025 to 31st March, 2026

1. Indian Overseas Bank

2. Union Bank of India

Background & Legal Reference

• The principal notification, i.e., Notification No. 50/2017-Customs, was originally published via G.S.R. 785(E) on 30th June, 2017.

• The most recent amendment prior to this was vide Notification No. 23/2025-Customs, dated 4th April, 2025, published under G.S.R. 218(E).

Purpose of the Amendment

This substitution of Lists 34A and 34B is intended to regulate and clarify the designated banking institutions involved in specific import/export-related schemes, especially those linked with concessional customs duty provisions.

By defining a clear, time-bound list of authorized banks, the government ensures better compliance and monitoring, thereby supporting smoother trade and financial processes under relevant customs exemptions.

 Notification Reference: Customs
 Notification No. 24/2025-Customs
 28/04/2025