Compensation for damages on foreign routes to be raised

Special Drawing Rights (SDR) is an international reserve asset created by the IMF in 1969 to supplement member countries’ official reserves.

By: ENS Economic Bureau | New Delhi | Published:March 19, 2015 1:35 am

The Centre on Tuesday approved a proposal to increase compensation for passengers sustaining damage due to death or bodily injury in international flights by 13 per cent. The proposal will now be sent to Parliament for clearance.

As per the proposal cleared by the Cabinet, compensation for passengers sustaining damage due to death or on account of bodily injury will increase to SDR 1,13,100 from SDR 1,00,000; compensation for delay in carriage of each passenger will increase to SDR 4,694 from SDR 4,150; compensation for destruction, loss, damage or delay with respect of baggage for each passenger will increase to SDR 1,131 from SDR 1,000 and compensation for destrcution, loss or delay in relation to the carriage of cargo will increase to SDR 19 from SDR 17.

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Special Drawing Rights (SDR) is an international reserve asset created by the IMF in 1969 to supplement member countries’ official reserves. Its value is based on a absket of four key international currencies, and SDRs can be exchanged for freely usuable currencies. The cabinet on Tuesday approved the proposal to amend the Carriage by Air Act, 1972, by inserting a new provision which would now enable it to revise the liability limits of airlines as per the Montreal Convention.

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