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Friday, November 27, 2015

India Eases Helo Import Process

India has eased financial restrictions on importing helicopters and other aircraft for scheduled and non-scheduled service, according to that nation’s central bank. Previously, a bank could not clear advance payments of $50 million or less for aircraft being imported until it ascertained that India’s Ministry of Civil Aviation, Director General of Civil Aviation (and other agencies specified by the country’s foreign trade policy) had approved the import deal. On Nov. 26, the Reserve Bank of India (which supervises financial institutions in the country) said its policy has been revised and banks no longer need to get the civil aviation ministry’s advanced approval. The change comes as India works to implement a new civil aviation policy; Nov. 30 is its deadline for comments on that policy.

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