Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) – RBI fixes 180 days
It has been decided to prescribe a uniform period for surrender of received / realised / unspent / unused foreign exchange by resident individuals. Accordingly, it will be in order for any resident individual to surrender received / realised / unspent / unused foreign exchange to an authorised person within a period of 180 days from the date of receipt / realisation / purchase / acquisition / date of return of the traveler, as the case may be.
RBI CIRCULAR NO. 58/RBI., Dated: May 18, 2007