Remittance for Import of aircrafts/helicopters/other aviation related purchases
Dated November 26th, 2015 | Copy of | Circular No.30 26/11/2015 | To, All Authorised Dealer Category-I Banks Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to clause 3(f) of A. P. (DIR Series) Circular No.77 dated June 29, 2007, in terms of which AD Category I banks could allow advance remittance, without bank guarantee or an unconditional, irrevocable standby letter of credit up to USD 50 million, in the case of import of aircrafts/helicopters/other aviation related purchases by scheduled air transport operators permitted by the Director General of Civil Aviation (DGCA), after ensuring that the requisite approval of the Ministry of Civil Aviation (MoCA)/ DGCA / other agencies in terms of the extant Foreign Trade Policy, had been obtained by ...
Govt clears multi-billion dollar Indo-US deal for military helicopters
Source: PTI Ahead of Indian Prime Minister Narendra Modi's visit to the US, the Cabinet Committee on Security (CCS) on Tuesday cleared a multi-billion dollar deal for 22 Apache attack helicopters and 15 Chinook heavy-lift choppers with American aviation giant Boeing. “The deal for Apache and Chinook (helicopters) has been cleared,” government sources said. The CCS met after a Cabinet meeting, they said. Many in the defence sector had expected the deal, valued to be over $2.5 billion and pending since 2013 following finalisation of cost negotiations, to be signed during the visit of US Defence Secretary Ashton Carter in June this year. The deal for Apache is “a hybrid one”, with one contract to be signed with Boeing for the ...
