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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Airline per-aircraft security deposit remittances allowed up to USD 1,000,000 by Authorised Dealer banks subject to conditions</h1> Authorised Dealer banks are permitted to allow airline companies (excluding Government/Public Sector entities) to remit up to USD 1,000,000 per aircraft as a security deposit for operating-lease lease rentals without a standby letter of credit or foreign/AD guarantee, subject to AD satisfaction of bona fides, requisite civil aviation approvals, board-approved advance-remittance policy (or board waiver), and deposit maturity not extending beyond final lease rental/return date with any balance repatriated; for Government/Public Sector airlines ADs may permit remittances exceeding USD 100,000 per aircraft under the same conditions plus a specific Ministry of Finance waiver. Authority: RBI.
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