Indian Airlines has launched a 'pay smart' scheme in association with ICICI Bank to enable its passengers avail the benefit of deferred payment system during the period April 26, 2004 to March 31, 2005.

Under the new scheme, a passenger having an ICICI credit card can buy IA economy class tickets on rupee tariff for any IA international or domestic sector and make the payment in 10 interest-free equated monthly instalments, an IA release said on Tuesday.

The first instalment would have to be paid at the counter during the purchase of the tickets, it said.

Tickets, under the scheme, can be purchased only from the IA offices in Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Mumbai, it said.