Neobank Niyo Users Bear The Brunt, As Partner SBM Bank India Comes Under RBI Radar.

The Reserve Bank of India (RBI) recently ordered the State Bank of Mauritius (SBM) India to halt all transactions using the Liberalised Remittance Scheme (LRS).

Many foreign travelers use Niyo for foreign exchange. I am very worried about the potential impact on the tens of thousands of Indians who are abroad without access to their funds.