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    <title>Export of goods and services against repayment of State credits</title>
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    <description>Export transactions against repayment of state credits are governed by Regulation 14 of the FEMA Export and Import Regulations and by Reserve Bank instructions under the interbank arrangement; Authorised Dealers must follow RBI settlement procedures and applicable circulars and Master Direction provisions for exports financed by state credits formerly extended by the USSR and under arrangements with the Russian Federation.</description>
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