CPI (M) MP John Brittas urges action over SBI Maldives’ remittance restrictions | Latest News India
CPI-M Member of Parliament John Brittas has raised concerns over recent restrictions by the State Bank of India (SBI) affecting remittances to the Maldives. He emphasized that these limitations are creating difficulties for individuals and businesses that rely on cross-border transfers, impacting trade, tourism, and personal remittances. Brittas urged the central government and regulatory authorities to review the matter and ensure that necessary measures are taken to resolve the issue promptly. Highlighting the importance of smooth financial operations, he stressed that international remittance channels are crucial for maintaining economic ties between India and neighboring countries. The MP’s intervention comes amid growing frustrations from citizens and companies facing delays and procedural hurdles in sending money abroad. Authorities are expected to examine the bank’s policies and provide clear guidelines to prevent further disruptions in remittance flows to the Maldives.
The Key points
- CPI-M MP John Brittas raised concerns on SBI’s remittance limits.
- Restrictions affect transfers from India to the Maldives.
- Individuals and businesses face difficulties in sending money abroad.
- Brittas urged government intervention to resolve the issue.
- Remittance delays impact trade and tourism between the countries.
- MP emphasized smooth cross-border financial operations.
- Citizens report procedural hurdles with SBI transfers.
- Timely action is needed to prevent economic disruption.
- Authorities expected to review bank policies on foreign remittances.
- Clear guidelines could restore efficient remittance channels.
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