Congress MP Shashi Tharoor has flagged a burgeoning financial crisis affecting thousands of Indian workers in the Maldives, urging immediate intervention from the External Affairs and Finance ministries. The crisis stems from severe restrictions on dollar remittances imposed by the State Bank of India (SBI) in the island nation, which is grappling with a foreign exchange shortage.
In a letter to External Affairs Minister S. Jaishankar dated December 19, 2025, Tharoor highlighted that Indian expatriates, particularly from Kerala, are facing extreme hardship. SBI Maldives has reportedly capped monthly remittances at a mere USD 150 (approximately ₹13,500) and blocked international ATM access, leaving workers unable to meet their financial obligations back home.
Financial Distress for Families
Tharoor noted that the sharp curb is having a devastating impact, as most workers have monthly commitments ranging between ₹50,000 and ₹60,000. These expenses typically cover housing loans, children’s education, and family maintenance. The current remittance limit, he argued, is unviable and is pushing families towards deprivation.
While acknowledging the Maldives’ economic challenges, the Thiruvananthapuram MP asserted that the burden should not be disproportionately placed on Indian workers who are a crucial part of the Maldivian service sector. He warned that the situation is causing acute distress and threatening the stability of households in India.
Diplomatic and Financial Solutions Urged
In his communication with the MEA, Tharoor has pushed for urgent diplomatic negotiations with the Maldives Monetary Authority (MMA) and the Maldivian government. He proposed securing a special exemption for Indian nationals and restoring the remittance limit to a “minimum survival threshold” of at least USD 750.
Separately, in a letter to Finance Minister Nirmala Sitharaman, Tharoor has requested that SBI be directed to operationalise a direct Rupee–Rufiyaa remittance mechanism. Such a channel would bypass the dollar shortage, offering a long-term solution. However, he stressed that until this becomes functional, diplomatic intervention is the only immediate path to relief for the stranded workers.
Tharoor also took to the social media platform X to publicise the issue, stating that Indian workers are a vital asset to the country’s soft power and should not be left to suffer. The matter has now brought the wider impact of the Maldives’ economic situation on the Indian expatriate community into sharp focus, with growing calls for a swift resolution.
