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The Reserve Bank Of India on October 14,2011 enhanced the limit for retaining foreign currency abroad to $3,000 per transaction for exporters against the existing $500. It has now been decided to increase the value per transaction from $ 500 to $3,000 for export-related remittances received through Online Payment Gateway Service Providers (OPGSPS), the RBI said in a statement. The RBI also announced 2 % interest subsidy on rupee export credit to the labor-oriented and small scale sectors.
