Issue of Bank Guarantee in Favour of Foreign Airlines/IATA

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..... of Authorised Dealer (AD) banks is invited to Regulation 4 of the Foreign Exchange Management (Guarantees) Regulations, 2000 notified vide Notification No.FEMA.8/2000-RB dated May 3, 2000, in terms of which, AD banks are allowed to give guarantees in certain cases as stated therein. 2. Presently, Indian agents of foreign airline companies who are members of International Air Transport Associatio .....

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..... the invocation of the guarantee. 4. Necessary amendments to the Foreign Exchange Management (Guarantees) Regulations, 2000 are being issued separately. 5. Authorised Dealer Banks may bring the contents of this circular to the notice of their constituents and customers. 6. The direction contained in this circular has been issued under Sections 10(4) and 11(1) of the Foreign Exchange Managem .....

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