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India's services exports in December 2012 stood at $12.88 billion, up 7.1% from a month ago, Reserve Bank data showed on Friday. The total exports from services in November 2012 was at $12.03 billion, as per RBI data. Imports of services also moved up to $6.76 billion in December from $6.62 billion in the previous month. The services sector contributes about 55 per cent to the country's gross domestic product. During April-December period of financial year 2012-13, the cumulative services receipt or exports has amounted to $105 billion. Services outgo or imports stood at $59.82 billion during the first nine months of the current financial year.

RBI to train N-E cops to fight fake institutions

RBI has drawn up a comprehensive programme to train local law enforcement agencies, especially the police force, in the North Eastern states to take on fake institutions and fly-by-night operators. “We are in talk with the chief secretaries (of North eastern states). This is one of the action points which our governor has pointed out... that in consultation with chief secretaries chalk out a training programme for police personnel who do not know the nitty gritty of the legal implications," RBI regional director PK Jena told reporters on Friday. He said a meeting in this regard was held with senior government officials in Assam. Jena said the concerned state governments would depute either their police personnel or Bureau of Economic Offence (BIEO) teams for the training. RBI governor D Subbarao

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