New Delhi, Nov. 4 -- The Reserve Bank of India (RBI) has eased reporting requirements for small service exporters and importers, including simplifying export declaration procedures and raising the threshold for reporting service imports.

The central bank has amended the Foreign Exchange Management (Export and Import of Goods and Services) Regulations to reduce compliance requirements for specified transactions.

Under the revised norms, service exporters will be deemed to have submitted the Export Declaration Form (EDF) when they provide the required payment receipt information to an authorised dealer bank for crediting their accounts, PTI reported.

For exporters other than resident individuals, the exemption will apply to inward remitt...