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of <h1>RBI Amends Investment Rules: Foreign Airlines Can Invest Up to 49% in Indian Air Transport with Approval.</h1> The corrigendum to Notification No. FEMA. 362/2016-RB, issued by the Reserve Bank of India's Foreign Exchange Department, amends investment regulations in the air transport sector. It specifies that foreign airlines can invest up to 49% in Indian companies operating scheduled and non-scheduled air transport services, subject to government approval and compliance with SEBI regulations. The investment limit includes FDI and FII/FPI investments. Scheduled Operator's Permits require companies to be Indian-registered, with substantial ownership and control by Indian nationals. The policy excludes Air India Limited and allows 100% FDI for NRIs under certain conditions. Other notification contents remain unchanged.
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