New Delhi, Oct. 27 -- Individual service exporters remain uncertain about compliance with the RBI's new Foreign Exchange Management Regulations, more than three weeks after their implementation, due to a lack of formal clarification on the Export Declaration Form (EDF) requirement.

Authorised dealer banks have adopted differing approaches to foreign remittances received by individuals, while most are yet to publish mandatory standard operating procedures (SOPs).

Professionals, including service providers and chartered accountants, have questioned whether individuals must file the detailed EDF.

Although the regulations require exporters to submit the form, RBI Governor Sanjay Malhotra indicated that transactions of a 'personal nature' w...