IFSCA recognizes mobile equipment used for ground handling, servicing or field maintenance of aircraft as financial product

The International Financial Services Centres Authority (IFSCA) vide notification dated April 13, 2022 has revised the definition of Financial Products under the International Financial Services Centres Authority Act, 2019 to include in the scope of the definition:

Any piece of mobile equipment, whether or not powered or self-propelled, purpose designed built and used for ground handling, servicing or field maintenance of aircraft on the ramp area of an airport and equipment used for providing services necessary for ramp handling.