India and Russia double rupee-ruble payments in 2024
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Increase in payments and deposits
According to Sberbank, Russia's largest bank, India and Russia have doubled their payments in national currencies (rupee-ruble) last year despite US and EU sanctions. Indian corporate rupee deposits have increased sixfold in 2024.
Increase in transaction volume
From January to June 2024, the volume of payments has doubled compared to the same period in 2023 and transactions grew by 80%. Sberbank continues to facilitate these payments despite sanctions imposed by Russia after its invasion of Ukraine in 2022.
Impact of Modi's visit
Prime Minister Narendra Modi's recent visit to Moscow is expected to further boost economic cooperation. Economists suggest that Chinese businesses without the rupee and the yuan take advantage of the void left by Western companies.
Business opportunities
Experts advise Indian businesses to tap into sectors such as auto components, chemicals and electronics. Indian businessmen in Russia urge quick action to compete with China in $240 billion bilateral trade.
Centre warns - Beware of fake e-notices from government offices
Steps suggested for verification
The Cyber ​​Crime Unit of the Union Home Ministry has advised people to verify the authenticity of suspicious e-notices from government offices received through email.
They advise to check the internet for the name of the official mentioned in the notice and contact the concerned department to confirm its legitimacy.
Warning on fake emails
The Indian Cyber ​​Crime Coordination Centre (I4C) has issued a public advertisement warning about 'fake emails' appearing as government e-notices.
They have advised to check whether the email has come from a legitimate government website ending in 'gov.in', verify the officials named in the email through internet search and contact the mentioned department to verify the email.
Previous advisory
Earlier this month, the Union Finance Ministry had warned about fraudulent emails using the name, signature, seal and logo of Delhi Police Cyber ​​Crime and Economic Offences, Central Economic Intelligence Bureau (CEIB), Intelligence Bureau and Delhi Cyber ​​Cell.
Reporting cyber frauds
The Home Ministry and I4C stressed on reporting suspicious emails and other cyber frauds immediately on www.cybercrime.gov.in or by calling the cyber crime helpline 1930.
Myanmar coalition agrees four-day ceasefire with junta
Temporary ceasefire in northern Shan state
On Sunday, Myanmar's coalition of ethnic minority armed groups announced a four-day ceasefire with the junta in northern Shan state. This comes after clashes in which the coalition captured territory from the military along a strategic highway to China.
Renewed offensive against junta
Fierce fighting has been going on in the region since late last month, when the Three Brotherhood Alliance resumed an offensive against junta troops along a road to China's Yunnan province.
The offensive has disrupted a previous ceasefire brokered by Beijing in January that temporarily halted the coalition's advances.
The coalition comprises the Arakan Army (AA), the Myanmar National Democratic Alliance Army (MNDAA) and the Ta'ang National Liberation Army (TNLA).
Ceasefire agreement and borders
TNLA Major General Tar Bhon Kyaw has confirmed that a ceasefire scheduled for July 14-18 was agreed upon as a sign of cooperation with China.
However, the ceasefire does not cover the neighboring Mandalay region, where fighting continues between the coalition, other military opponents and junta troops.
