7 months ago
2
CPI(M) Rajya Sabha MP A.A. Rahim has urged the State Bank of India (SBI) to retreat the remittance bounds for Indian expatriates successful Maldives.
In a missive to the SBI Chairman, Mr. Rahim said galore Indian citizens residing successful Maldives were presently facing superior difficulties, pursuing the caller restrictions imposed by the bank’s branches successful the land nation.
“As per the notification issued by the branches, the monthly MVR-INR remittance bounds has been temporarily reduced to $150 (approximately MVR 2313) per relationship holder, effectual from October 25, 2025. In addition, ATM withdrawals and ECOM/POS transactions utilizing Maldivian Rupee (MVR) cards extracurricular the Maldives person been suspended,” said the letter.
“This abrupt determination has caused wide hardship among Indian workers and professionals who trust connected regular remittances to enactment their families successful India. The abrupt restrictions person disrupted their fiscal stableness and created uncertainty among a assemblage that has agelong contributed importantly to some the Maldivian system and overseas speech inflows to India,” it said.
Mr. Rahim requested the slope to reappraisal the determination astatine the earliest and research measures to mitigate its impact. “Consideration whitethorn beryllium fixed to easing the remittance cap. A timely and empathetic involution volition bring immense alleviation to Indian citizens successful the Maldives and their families successful India,” helium added.
