RBI HIKES LIMIT ON GIFTS TO RS. 5 LAKH

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The Reserve Bank has hiked the limit for export of goods by way of gift to Rs. 5 Lakh per annum with immediate effect. As per current norms, export of goods by way of gift was permissible subject to declaration by the exporter that goods was for goods valued at not more than Rs. One lakh , RBI said.

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