Yes, once you receive a payment in your Mulya account, you can hold the funds in foreign currency for up to one year from the date of receipt.
During this period, the money will remain in foreign currency and will be converted to INR only when you submit a withdrawal request. Additionally, you can carry over this amount from one financial year to the next, with no restrictions on withdrawals during the change of financial year, which can help you manage your taxes more effectively.
What Happens if the Money is Kept for More Than One Year?
After 11 months, we will send you frequent notifications via your registered email ID and phone number, reminding you to withdraw the funds. Please note that we cannot settle the amount automatically, as we require transaction details for the settlement.
If you do not withdraw the funds within one year, they will be confiscated by our banking partners.