Business, Economy & Banking Current Affairs MCQs

Notes:
On 15th June 2025, Union Minister of Commerce and Industry Shri Piyush Goyal chaired a review meeting at the Tobacco Board, Guntur, Andhra Pradesh. The meeting assessed the progress of industrial nodes led by the National Industrial Corridor Development Corporation (NICDC) in the state. National Industrial Corridor Development Corporation (NICDC) is a Government of India initiative under the Ministry of Commerce and Industry. It aims to develop smart industrial cities to boost manufacturing, investment, jobs, and India’s global competitiveness.

Notes:
Google opened its first Safety Engineering Centre in the Asia-Pacific region and fourth globally in Hyderabad on June 19, 2025. Telangana Chief Minister A Revanth Reddy officially inaugurated the Google Safety Engineering Centre (GSEC). The launch follows Google’s “Safety Charter for India’s AI-led Transformation” unveiled in Delhi on June 17. GSEC will work on protecting users from online fraud and securing enterprise and government systems. It will act as a strategic hub for responsible Artificial Intelligence (AI) and safety solutions.

Notes:
India has the fourth highest potential globally to generate solar power from abandoned coal mines, according to the Global Energy Monitor (GEM). Telangana, Odisha, Madhya Pradesh, and Chhattisgarh are among the top 20 global regions with the highest land availability from closed mines and could together generate over 22 GW. Abandoned coal mines pose risks like methane leakage, which has 28 times more warming potential than carbon dioxide, and can lead to environmental damage and fatal accidents.

Notes:
India Post Payments Bank (IPPB), fully owned by the Government of India under the Department of Posts, Ministry of Communications, has won the prestigious Digital Payments Award 2024–25 from the Department of Financial Services (DFS), Ministry of Finance. India Post Payments Bank (IPPB) secured the first position among all Payments Banks in the Performance Index for Financial Year 2024–25 and received a ‘Special Mention’ for 2023–24. It was launched on September 1, 2018. IPPB aims to provide accessible, affordable, and trusted banking to every Indian, especially the unbanked and underbanked.

Notes:
The Ministry of Statistics and Programme Implementation (MoSPI) will conduct India’s first-ever Household Income Survey in 2026, as announced recently. A Technical Expert Group (TEG) led by economist Surjit Bhalla has been formed to guide survey methods, estimation techniques, and best global practices. The survey will measure household income and assess how technology adoption affects wages, aiming to fill key data gaps. Past attempts since the 1950s failed due to unreliable data, with income estimates often lower than consumption and savings combined.

Notes:
Recently, the Reserve Bank of India (RBI) involved major public and private sector banks to develop the Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure (DPI). The Digital Payment Intelligence Platform (DPIP) is an initiative of the Reserve Bank of India (RBI). It aims to improve fraud risk management by allowing real-time sharing and collection of intelligence to stop fraudulent digital transactions. The Reserve Bank Innovation Hub (RBIH) is building a prototype with 5–10 banks. DPIP will use advanced technologies to control payment-related frauds.

Notes:
Recently, the Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, launched Sagarmala Finance Corporation Limited (SMFCL), India’s first Non-Banking Financial Company (NBFC) for the maritime sector. SMFCL was earlier known as Sagarmala Development Company Limited. It was formally registered with the Reserve Bank of India (RBI) on June 19, 2025. SMFCL aims to bridge financing gaps and provide sector-specific funding to ports, shipping companies, Micro Small and Medium Enterprises (MSMEs), startups, and maritime institutes.

Notes:
Recently, Gujarat became the third Indian state to cross 1 crore registered investors, as per National Stock Exchange (NSE) data. Maharashtra and Uttar Pradesh had already crossed this mark. These three states together form 36 per cent of India’s total investor base, showing their big role in equity markets. As of May 2025, India has nearly 11.5 crore registered investors. North and East India saw growth of 24 per cent and 23 per cent in the past year, while South grew 22 per cent and West 17 per cent.

Notes:
Recently, the Ambassador of Japan to India led a high-level business delegation to the Dholera Special Investment Region (SIR). The visit aimed to explore strategic cooperation in semiconductors and smart city development. Dholera SIR, India’s first greenfield smart industrial city, is located in Gujarat. The city focuses on advanced manufacturing, digital governance, and sustainable urban living. It is a key part of India’s vision to boost high-tech investments, particularly in the semiconductor sector

Notes:
Recently, CTBC Bank, the largest private bank in Taiwan, applied to set up an IFSC Banking Unit (IBU) in GIFT City, India. This move strengthens GIFT City’s global appeal as a financial hub. The International Financial Services Centres Authority (IFSCA) is the regulator for IFSC operations in India. IFSCA was established under the IFSCA Act, 2019 as a statutory authority. It regulates financial products, services, and institutions within India’s IFSC. IFSCA is headquartered at GIFT City, Gandhinagar, Gujarat. GIFT IFSC is currently India’s only International Financial Services Centre.