CPI (M) MP John Brittas urges action over SBI Maldives’ remittance restrictions
The Maldivian branches of the State Bank of India (SBI) have reduced the permissible monthly remittance ceiling from around USD 400 to USD 150, effective October 25, 2025
Communist Party of India (Marxist) Rajya Sabha MP John Brittas, on Tuesday, wrote separate letters to Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI )Governor Sanjay Malhotra, urging immediate intervention over the reduction in the monthly remittance limit for Indian nationals working in the Maldives.
The Maldivian branches of the State Bank of India (SBI) have reduced the permissible monthly remittance ceiling from around USD 400 to USD 150, effective October 25, 2025.
“The remittance facility, which initially had no ceiling, was gradually brought down over time to the current meagre limit of USD 150 per month. Notably, a large majority of the Indian expatriates in the Maldives are teachers, and the current restrictions will gravely affect their ability to support their families in India,” said Brittas in his letters.
He added that the “abrupt reduction in the remittance ceiling, coupled with the suspension of ATM withdrawals and e-commerce/POS transactions outside the Maldives using Maldivian Rufiyaa cards, will severely constrain the ability of Indian expatriates to support their families back home”.
Brittas noted that for many of these expatriates, remittances form the backbone of their household income in India, meeting essential obligations such as educational expenses, medical treatment, housing loans, and day-to-day living costs. He highlighted that the uncertainty over the duration of the restrictions has ‘only deepened their anxiety and financial distress’.
The CPI(M) MP said he had received representations from several Indian expatriates in the Maldives, highlighting their predicament, pointing out that the new cap would leave many unable to transfer adequate funds to pay their children’s education fees or service home loans. He described the situation as ‘not isolated accounts but reflect a widespread crisis confronting our fellow citizens abroad’.
In his letter to Sitharaman, Brittas appealed that the Government of India ‘urgently engages’ with the relevant stakeholders to safeguard the interests of Indian citizens. He urged that the Finance Ministry initiate discussions involving the Ministry of External Affairs, the Reserve Bank of India (RBI), the State Bank of India (SBI), and the Maldives Government to ensure that remittance channels for Indian expatriates are restored to a ‘fair and practical’ level at the earliest.
To the RBI Governor, he similarly requested that the RBI ‘urgently engages’ with relevant stakeholders, including SBI, to ‘safeguard the interests of our citizens’, by ensuring the restoration of remittance channels for Indian expatriates to a fair and practical level at the earliest.
Brittas further suggested exploring alternative mechanisms, including UPI and RuPay-based arrangements, which could provide some relief to those affected.
Concluding his appeal, Brittas said, “The plight of these expatriates, many of whom are modest earners, warrants urgent and compassionate intervention. Their inability to send home sufficient funds will be having far-reaching implications not only for their families but also for the larger economic and social ecosystem that their remittances sustain in India.”
The letters were sent with copies marked to the High Commission of India in the Maldives and the Chairman of the State Bank of India.
