Business, Economy & Banking Current Affairs MCQs

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The government has initiated a review of the Wholesale Price Index (WPI) to update its base year from 2011-12 to 2022-23. This change aims to reflect structural economic changes and enhance the accuracy of inflation measurement and GDP calculations. The 18-member committee, led by NITI Aayog member Ramesh Chand, will also explore transitioning to a Producer Price Index (PPI) to include services, which constitute over half of India’s economic output, thus aligning with international practices.

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State Bank of India launched two new deposit schemes, Har Ghar Lakhpati and SBI Patrons, to provide better financial options. SBI Patrons is a fixed deposit scheme specifically for senior citizens aged 80 and above. It offers higher interest rates, acknowledging the loyalty of senior customers. Both new and existing term deposit customers can avail the SBI Patrons scheme. Depositors under this scheme earn an additional 10 basis points higher interest than standard rates for senior citizens.

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India’s first commercial utility-scale battery energy storage system (BESS) will go live in March 2025. It is located in Kilokri, a village in south Delhi. The BESS is a 20 MW/40 MWh battery cluster that is part of the BSES Rajdhani Power Limited (BRPL) Kilokri substation. The system is expected to provide four hours of power every day, two hours each during the day and at night. The BESS project is a collaboration between BRPL, IndiGrid, and the Global Energy Alliance for People and Planet (GEAPP). The project is a significant milestone in India’s efforts to integrate renewable energy and modernize its power infrastructure.

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The INROAD (Indian Natural Rubber Operations for Assisted Development) project, backed by ₹100 crore, enhances natural rubber quality in Northeast India and parts of West Bengal. It aims to develop skills among rubber growers and establish model infrastructure. Supported by major tyre companies – Apollo, Ceat, JK, and MRF – it showcases agriculture-industry collaboration. The project is overseen by the Rubber Board of India, it involves direct engagement from tyre manufacturers. In four years, 1,25,272 hectares of rubber plantations have been established across 94 districts. The project uses digital platforms to train farmers in effective rubber tapping and processing for quality improvement.

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The International Monetary Fund (IMF) retained India’s growth projection at 6.5% for FY26 and FY27, citing it as “in line with potential.” Growth in India slowed due to an unexpected deceleration in industrial activity, with 5.4% growth reported for the September quarter. The World Bank maintained its higher growth projection for India at 6.7% for FY26 and FY27, predicting it to remain the fastest-growing major economy. The World Bank highlighted growth driven by the services sector, strengthened manufacturing, improved logistics, and tax reforms. NSO’s First Advance Estimates project FY25 growth to slow to 6.4%, below RBI’s 6.6% forecast for FY25.

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India is now the seventh-largest coffee producer globally, with exports reaching $1.29 billion in the last financial year, nearly double the $719 million in 2020-21, according to the Commerce and Industry Ministry. In the first half of this month, over 9,300 tonnes of coffee were exported, with top buyers being Italy, Belgium, and Russia. India primarily exports unroasted beans, but there is increasing demand for roasted and instant coffee. Karnataka leads coffee production, followed by Kerala and Tamil Nadu. Domestic consumption has risen from 84,000 tonnes in 2012 to 91,000 tonnes in 2023, driven by café culture and higher incomes.

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The Ministry of Micro, Small, and Medium Enterprises (MSME) has launched the MSME Trade Enablement and Marketing (TEAM) initiative to help small businesses adopt digital commerce. It has a budget of ₹277.35 crore for three years and aims to onboard 5 lakh MSMEs onto Open Network for Digital Commerce (ONDC). The initiative focuses on inclusivity, targeting 50% women-led enterprises. MSMEs will get digital storefronts, payment solutions, and logistics support via ONDC. More than 150 workshops will educate MSMEs, especially women-led and SC/ST-led businesses. A dedicated portal will offer training, financial aid, and grievance support. The initiative aligns with India’s digital transformation goals and complements schemes like PM Vishwakarma and Digital MSME.

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SEBI plans to launch a “when-listed” platform for trading shares of companies after their initial public offering (IPO) but before listing on stock exchanges. This aims to reduce grey market activity, which is unregulated and influences IPO listings. Currently, shares are listed T+3 days after an IPO, with allotment on T+1. Between allotment and listing, trading occurs in the grey market, an unofficial, unregulated market where shares are traded based on supply and demand. Investors often check the grey market premium before deciding to invest in an IPO.

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SEBI launched a web-based portal called Integrated SEBI Portal for Technical Glitches (iSPOT) for submitting root cause analysis (RCA) reports on technical glitches. It serves as a centralized repository to streamline reporting by stock exchanges and market infrastructure institutions (MIIs). iSPOT aims to improve data quality, track past glitches, and generate system reports for better compliance monitoring.

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The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, approved the revision of ethanol procurement prices for Oil Marketing Companies (OMCS) for the Ethanol Supply Year 2024-25 (Nov 1, 2024 – Oct 31, 2025). The Ethanol Blended Petrol (EBP) Programme aims to reduce pollution, conserve foreign exchange, and support the sugar industry in clearing cane price arrears for farmers. The EBP programme, launched in 2003 by the Ministry of Petroleum and Natural Gas, promotes the use of environment-friendly alternative fuels.