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of <h1>RBI Circular Permits Airline Companies to Make Advance Remittances Up to USD 50M for Aircraft Imports Without Bank Guarantee.</h1> The circular issued by the Reserve Bank of India (RBI) allows airline companies, authorized by the Directorate General of Civil Aviation, to make advance remittances up to USD 50 million for importing aircraft, helicopters, and other aviation-related purchases without a bank guarantee. Authorized Dealer Category - I banks must ensure the legitimacy of transactions, conduct due diligence, and comply with Know Your Customer (KYC) norms. Remittances must align with sale contract terms, and physical import must occur within specified timeframes. Deviations require prior RBI approval. These directions are under the Foreign Exchange Management Act, 1999.
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