The Reserve Bank of India, on Tuesday, extended the 2 per cent interest subsidy scheme by another year on rupee export credit to the labour-oriented and small scale sectors to cushion them from slowdown in markets such as the U.S. and Europe.

Exporters of handicrafts, handlooms, readymade garments, processed agriculture products and carpets will be eligible for interest subvention to be available up to March 31, 2013, the central bank said.

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