Advance Remittance for Import of aircrafts /helicopters / other aviation related purchases

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..... 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 operator .....

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..... for operating Scheduled or Non-Scheduled Air Transport Services (including Air Taxi Services). In other words, the approval from MoCA will not be required. 3. All other terms & conditions mentioned in the A. P. (DIR Series) Circular No.77 dated June 29, 2007 remain unchanged. 4. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers. 5. T .....

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