The European Union’s latest package of sanctions on Russia has opened new avenues for Indian businesses to expand trade with Moscow, according to the Moscow-based Indian Business Alliance (IBA).On October 23, the Council of the European Union adopted its 19th round of restrictive measures targeting key Russian sectors—including energy, finance, and defense — in response to what it called “Russia’s illegal invasion of Ukraine.”In a statement, the IBA said, “The EU sanctions against Russia have had an unexpected effect — instead of weakening the Russian economy, they have spurred local production and innovation. Russian industries have responded dynamically, filling the gaps left by the withdrawal of Western companies,” as cited by PTI.The alliance added that the measures have deepened Russia’s partnerships with “friendly nations, particularly India.” As Western firms exited Russia, Indian businesses stepped in to meet growing demand. “Bilateral trade between India and Russia has now reached a record $68.7 billion, reflecting the growing momentum in bilateral relationship,” the statement, signed by IBA president Sammy Manoj Kotwani, said.The 19th sanctions package also bans exports of several goods — including sanitaryware, electric motor toys, and tricycles — to Russia. The IBA said Indian companies have been quick to capitalize on these gaps. “Indian generic drug manufacturers, who in the past have been targets of western rivals’ smear campaigns, are today ensuring stable supplies for Russian hospitals and pharmacies,” it said.Indian exporters of engineering goods and machinery have expanded shipments of equipment, components, and spare parts, while Indian consumer products have reappeared on Russian shelves. The IBA noted that Indian tea, rice, spices, and garments are increasingly replacing European brands.“This cooperation benefits both nations — Russian consumers enjoy stable access to quality products, while Indian exporters gain new and growing markets,” Kotwani said, as quoted by PTI. He added that the IBA is actively helping businesses from both countries connect, facilitating logistics, partnerships, and guidance to build mutual trust. “Together, Russia and India are transforming global challenges into new opportunities — and emerging more resilient, united, and forward-looking than ever,” he said.The EU sanctions came a day after the United States announced its own measures against Russia. On October 22, Washington imposed sanctions on Rosneft and Lukoil, Russia’s two largest crude oil producers, prohibiting all American entities and individuals from doing business with them.At the same time, the US levied a 25% tariff on India for purchasing Russian oil, in addition to existing reciprocal duties on Indian exports. Indian goods are currently subject to nearly 50% additional import tariffs in the US. New Delhi has called these duties “unfair, unjustified and unreasonable.”Meanwhile, India on Monday reviewed progress in negotiations for a proposed free trade agreement (FTA) with the European Union. Commerce and Industry Minister Piyush Goyal met with EU Commissioner for Trade and Economic Security Maros Sefcovic in Brussels to discuss the ongoing talks.

New Delhi: Many State Bank of India (SBI) customers were surprised recently to see Rs 236 deducted from their savings accounts. If you’ve noticed the same, don’t worry — it’s not a fraud or error. The deduction is for the annual maintenance charge on your SBI debit card.

Every year, SBI charges account holders a small fee for maintaining their debit cards. For regular Classic, Silver, Global, or Contactless debit cards, the annual maintenance charge (AMC) is Rs 200, plus 18 percent GST, which adds up to Rs 236. This amount is automatically debited once a year.

For customers holding premium cards such as Gold, Platinum, or Business debit cards, the fee is slightly higher, ranging between Rs 250 and Rs 350 per year before taxes. The exact amount depends on the type of card linked to your account.

If this is your first time seeing the deduction, it might be because your card was new last year, or you previously had a waiver. Some customers also miss the notification as the charge is quietly shown as “Debit Card Annual Maintenance Fee” or “Card AMC” in their account statement.

To confirm, you can check your recent transaction history through the SBI YONO app, internet banking, or your branch passbook. If the entry mentions “Debit Card AMC” or “Annual Maintenance,” the deduction is legitimate.

However, if you think you were wrongly charged — for instance, if your account type usually includes free debit card maintenance — you can contact SBI customer care or visit your home branch to clarify.

To avoid future deductions, customers can switch to salary package or digital-only accounts, which sometimes offer zero annual maintenance fees.

In short, the Rs 236 deduction from your SBI account is the annual maintenance fee plus GST — a routine charge for keeping your debit card active.