 "airline flight aviation")
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance.
It has also raised concern over slow progress in developing aircraft leasing in India.
According to a senior government official, the civil aviation ministry has laid emphasis on Indian banks adopting globally aligned practices by undertaking asset-backed aircraft financing, supported by a stronger security framework enabled through the passage of the Cape Town Convention Bill. (The Cape Town Convention is a global treaty that guarantees the rights of lessors to repossess leased
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