Maldives and Indian Authorities Engage to Address Reduced SBI Remittance Limits
The Indian High Commission in the Maldives has revealed that it is working with the Maldivian government to address difficulties faced by Indian citizens following a reduction in the limit on money transfers abroad by the State Bank of India (SBI) in the Maldives.
USD Remittances: Important information for Indian nationals/expatriates residing in the Maldives@MEAIndia@IndianDiplomacy @MoFAmv pic.twitter.com/hB7z9fJM98
— India in Maldives (@HCIMaldives) October 16, 2025advertisement
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The bank recently informed its customers that, due to a shortage of US dollars, the remittance limit has been lowered from USD 400 to USD 150 (MVR 2,313), effective from 25 October 2025. This reduction is expected to create significant challenges for Indian citizens working in the Maldives who are paid in Maldivian Rufiyaa (MVR).
The High Commission has begun discussions with the Maldivian government and relevant Indian authorities to find a solution to the issue as quickly as possible. These discussions include exploring recently introduced services between the two countries, such as the UPI service, RuPay card, and the possibility of opening accounts in Indian Rupees (INR) in the Maldives.
The High Commission has advised Indian citizens residing in the Maldives to plan their remittances carefully, request payment in US Dollars where possible, and regularly review updates from SBI and Indian authorities until the matter is resolved.
