RBI Relaxes Norms for Aircraft, Helicopter Imports

New Delhi: Relaxing norms for aircraft and helicopter imports, the Reserve Bank of India on Thursday said banks can allow advance remittances for imports once the company has approval from the Directorate General of Civil Aviation (DGCA). With the latest notification, the RBI has done away with the earlier requirement whereby approval of the Civil Aviation Ministry was compulsory for advance remittances. Previously, advance remitta...