Business, Economy & Banking Current Affairs MCQs

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India has proposed a revamp of Corporate Average Fuel Efficiency (CAFE) 3 norms with a new draft released for public consultation. CAFE norms regulate fuel consumption and CO₂ emissions from passenger vehicles under 3,500 kg. They apply to petrol, diesel, LPG, CNG, hybrid, and electric vehicles. In India, CAFE norms were implemented in two phases: Phase 1 (2017–18) and Phase 2 (2022–23). The objective is to improve fuel efficiency, reduce emissions, and promote cleaner vehicles. The Bureau of Energy Efficiency (BEE), a statutory body under the Ministry of Power, Government of India, introduced the Corporate Average Fuel Efficiency (CAFE) norms in India.

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Union Finance Minister Nirmala Sitharaman launched the nationwide ‘Aapki Punji Aapka Adhikar’ campaign from Gandhinagar, Gujarat. The campaign aims to ensure speedy settlement of unclaimed financial assets across banks, insurance companies, pension funds, stock, and mutual fund companies. It focuses on returning deposits to legitimate claimants and bridging the gap between financial institutions and citizens. Currently, ₹1,82,000 crore of unclaimed assets lie with financial institutions nationwide. Certificates were awarded to claimants confirming the retrieval of their unclaimed assets. The initiative promotes financial empowerment and awareness among citizens.

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Microfinance loan delinquencies rose sharply in 2024-25 according to Sa-Dhan, the microfinance self-regulatory body. Loans overdue by more than thirty days increased to six point two percent from two point one percent in 2023-24. Loans overdue by more than ninety days rose to four point eight percent from one point six percent in 2023-24. Bihar had the highest outstanding loans of fifty-seven thousand seven hundred twelve crore rupees and the worst delinquency with seven point two percent overdue by more than thirty days and four point six percent overdue by more than ninety days. Rural borrowers faced the highest repayment challenges with six point four percent loans overdue by more than thirty days and three point seven percent overdue by more than ninety days. Semi-urban and urban borrowers had slightly lower delinquency rates.

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The World Trade Organization (WTO) recently praised India’s liberalised Authorised Economic Operator (AEO) programme for boosting participation of Micro, Small, and Medium Enterprises (MSMEs) in international trade. The AEO programme operates under the World Customs Organisation (WCO) SAFE Framework of Standards to secure and facilitate global trade. WCO adopted the SAFE Framework in June 2005 to strengthen international supply chain security. AEO is one of the three pillars of the SAFE Framework and promotes customs–trade partnership. It was launched by the Central Board of Indirect Taxes and Customs (CBIC) as a pilot in 2011 and revised in 2016. It is implemented by the Directorate of International Customs under CBIC.

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The Sevilla Forum on Debt was launched on October 22, 2025, at the 16th United Nations Conference on Trade and Development (UNCTAD16) in Geneva. It is a Spanish-led initiative supported by UNCTAD and the UN Department of Economic and Social Affairs (DESA). The Forum provides an open, inclusive platform for dialogue and action on sovereign debt reform. The Forum stems from the Fourth International Conference on Financing for Development (FfD4) and aligns with the Sevilla Platform for Action and Sevilla Commitment. Spain will host the Forum as a bridge between borrowers and creditors, tracking implementation of debt initiatives. Global debt reached 102 trillion in 2024; developing countries owe 31 trillion and pay $921 billion in interest

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The Reserve Bank of India (RBI) has launched HaRBInger 2025 – Innovation for Transformation, its fourth global hackathon. It aims to use emerging technologies to create innovative, secure, and user-friendly financial solutions. The main goal is to protect customer identity and build trust in the financial system. The theme for HaRBInger 2025 is “Secure Banking: Powered by Identity, Integrity, and Inclusivity.”

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The Indian Institute of Packaging (IIP) has recently opened its new Bengaluru Centre. IIP is an autonomous body under the Ministry of Commerce and Industry, Government of India. It was established in 1966 with its headquarters in Mumbai. Its main goal is to boost exports through innovative package design and improved packaging standards. It provides testing, consultancy, R&D, and training in packaging. Training is given to artisans, weavers, exporters, and stakeholders for modern and aesthetic packaging.

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Recently, Hindustan Zinc Ltd (HZL) received a licence to explore and mine a tungsten block in Andhra Pradesh. Tungsten is a chemical element with the symbol W and atomic number 74. It is a naturally occurring transition metal found in minerals like wolframite and scheelite, not as a pure metal. It has the highest melting point of all metals at 3410 °C and the lowest vapor pressure at that temperature. It also has the highest tensile strength above 1650 °C and remains solid at room temperature.

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The Central Bank of the United Arab Emirates (CBUAE) has officially declared the Digital Dirham as full legal tender in 2025. The new law makes the Digital Dirham equal to physical cash, with mandatory acceptance for all payments and debt settlements. It is issued under the authority of the UAE Federal Government, marking a major step in strengthening the UAE’s digital economy leadership. The Digital Dirham is a Central Bank Digital Currency (CBDC), fully backed, regulated, and secured by the CBUAE. It offers a safe, low-risk alternative to commercial bank money and private digital assets.

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Recently, India’s electronics sector gained momentum through the Electronics Development Fund (EDF) launched on 15 February 2016. EDF promotes innovation in electronics, nano-electronics, and Information Technology (IT). It works as a Fund of Funds, investing in Daughter Funds like angel and venture funds that support technology startups. Electronics Development Fund’s (EDF’s) anchor investor is Ministry of Electronics and Information Technology (MeitY).