One of the major advantages of buying Iran crude is the additional credit period of 90 days that the country gives to India, compared to 30 days by other countries.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
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The government on Thursday slashed the landing and user charges at airports, especially for aircraft with less than 80 seats and helicopters to make air travel affordable and increase connectivity to smaller areas.
In what could brighten India's prospects in exports of equipment and technology in power, railways, automobiles, and pharmaceuticals, Exim Bank has extended the largest ever line of credit to Iran of $200 million for financing the exports to Iran.
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