The ministry is in discussions with MMA to facilitate smoother remittance processes for Indian employees in Maldives. The Indian High Commission in Maldives has also raised these concerns with the Maldivian authorities.
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India's Ministry of External Affairs has stated that it is in discussions to address challenges faced by Indian nationals in the Maldives regarding the remittance of their salaries to the country.
Responding to a question raised by a member of the lower house of India's Parliament, Lok Sabha, India's Ministry of External Affairs said the restrictions on dollar remittances from the Maldives had come to the ministry's attention. The ministry said that the issue arises from limits imposed by the Maldives Monetary Authority (MMA) on dollar supplies in local banks. While this issue affects remittances to all countries, the ministry clarified that Indian citizens earning salaries in dollars are unaffected.
The ministry is in discussions with MMA to facilitate smoother remittance processes for Indian employees in Maldives. The Indian High Commission in Maldives has also raised these concerns with the Maldivian authorities.
The Maldives is currently grappling with a dollar shortage, with usable reserves having dropped to USD 32 million last month, marking the lowest level in three years.
MMA also secured a USD 400 million currency swap facility through the Reserve Bank of India (RBI) late last month to boost foreign exchange reserves. Official reserves were at USD 615 million at the end of October.
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