CPI(M) MP A.A. Rahim urges SBI to withdraw remittance limit for Indian expatriates in Maldives

CPI(M) Rajya Sabha MP A.A. Rahim has urged the State Bank of India (SBI) to withdraw the remittance limit for Indian expatriates in Maldives.

In a letter to the SBI Chairman, Mr. Rahim said many Indian citizens residing in Maldives were currently facing serious difficulties, following the recent restrictions imposed by the bank’s branches in the island nation.

“As per the notification issued by the branches, the monthly MVR-INR remittance limit has been temporarily reduced to $150 (approximately MVR 2313) per account holder, effective from October 25, 2025. In addition, ATM withdrawals and ECOM/POS transactions using Maldivian Rupee (MVR) cards outside the Maldives have been suspended,” said the letter.

“This abrupt move has caused widespread hardship among Indian workers and professionals who rely on regular remittances to support their families in India. The sudden restrictions have disrupted their financial stability and created uncertainty among a community that has long contributed significantly to both the Maldivian economy and foreign exchange inflows to India,” it said.

Mr. Rahim requested the bank to review the decision at the earliest and explore measures to mitigate its impact. “Consideration may be given to easing the remittance cap. A timely and empathetic intervention will bring immense relief to Indian citizens in the Maldives and their families in India,” he added.