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In-flight sales: IndiGo approaches RBI for use of rupees in international flights

Press Trust of India  |  New Delhi 

Budget has approached the Reserve Bank seeking relaxation in foreign exchange norms regarding use of Indian rupees for onboard sales in international flights.

Friday told the Lok Sabha that an appropriate decision on the matter would be taken by the (RBI) after due process.

is the country's largest in terms of domestic market share and also flies to more than 15 international destinations.

In a written reply, the of State for Finance said that the RBI has received an application from to effect in-flight sales in Indian rupees on its international flights.

Approval has been sought "to export notes up to Rs 1,50,000 to enable them to provide the change to passengers making purchases onboard in Indian rupees on its international flights", he said.

According to the minister, the has also sought permission to import "without any limit", notes in rupees that are collected from the passengers making in-flight purchases in domestic currencies on its overseas flights.

Currently, are free to accept Indian rupees from a passenger towards goods and services offered onboard, subject to provisions under the Foreign Exchange Management (Export and Import of Currency) Regulations.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 16:40 IST
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