RBI Regulation: Maximum 9 months
Under Reserve Bank of India regulations, you can hold foreign currency in your Global Collections Account for a maximum of 9 months from the date of receipt.
Why does this limit exist?
The RBI's Foreign Exchange Management Act (FEMA) requires Indian residents to convert foreign currency earnings to INR within a reasonable timeframe. This applies specifically to GCA as it holds foreign currency.
Timeline of notifications
• At 7 months: Email notification sent, dashboard reminder displayed
• At 8.5 months: Final reminder via email and SMS
• At 9 months: Must withdraw funds; account may be restricted for new deposits until compliance
Best practice: Withdraw funds regularly to avoid restrictions