Malé, October 20, 2025 — The High Commission of India in Malé has expressed concern over the difficulties faced by Indian nationals in the Maldives following the State Bank of India’s (SBI) decision to reduce the outward remittance limit from USD 400 to USD 150 per month, effective October 25, 2025.
According to a statement issued by the High Commission, the measure—introduced due to a temporary shortage of US dollars—has significantly impacted Indian expatriates who receive their salaries in Maldivian Rufiyaa (MVR).
The mission said it is actively engaging with the Maldives’ Ministry of Foreign Affairs, the Maldives Monetary Authority (MMA), and other relevant agencies to help alleviate the challenges. It also confirmed close coordination with the State Bank of India to find solutions and ease the remittance process for affected individuals.
“Given the seriousness of the issue, the High Commission has been in constant touch with Maldivian authorities as well as the concerned entities in India to resolve the matter at the earliest,” the statement noted.
In addition to immediate measures, the High Commission highlighted ongoing discussions on long-term financial cooperation, including the possible establishment of an INR-MVR remittance mechanism, onboarding of India’s Unified Payments Interface (UPI) in the Maldives, and wider acceptance of RuPay cards. The opening of INR accounts in Maldivian banks is also being explored to facilitate smoother outward transfers.
While efforts continue, the High Commission has advised Indian expatriates to plan their remittances carefully, encourage employers to pay salaries in USD where possible, stay informed on SBI’s USD limits, and follow official announcements for updates.
“The High Commission fully understands the inconveniences caused to our diaspora community and their families in India,” the statement added. “We remain committed to addressing these challenges and keeping the community informed of further developments.”
The High Commission thanked the Indian community for their patience, understanding, and cooperation as discussions with Maldivian authorities continue.
