Business, Economy & Banking Current Affairs MCQs

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The Rubber Board launched two initiatives, iSNR (Indian Sustainable Natural Rubber) and INR Konnect. iSNR ensures compliance with the EU Deforestation Regulation (EUDR) by streamlining the rubber supply chain for EU markets. It provides traceability certificates verifying the origin of rubber products and their compliance with EUDR standards. This initiative aims to make Indian natural rubber competitive and responsible globally, promoting sustainable production and industry growth. INR Konnect is a web-based platform connecting untapped rubber growers with adopters to improve plantation productivity. It certifies participants, offers training in sustainable practices, and maintains a database of certified tappers.

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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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Punjab National Bank (PNB) becomes the first Indian bank to integrate Clari5’s National Cybercrime Reporting Portal (NCRP) solution. The solution was developed with the Indian Cyber Crime Coordination Centre (I4C) to automate cybercrime complaint processing. It works across all retail banking channels like Internet and Mobile Banking, ATMs, UPI, and NEFT/RTGS. Features include automated lien marking, intelligent account freezes, and customizable whitelisting to protect customers. Rivi Varghese, CEO of Clari5, praised PNB’s leadership, calling the integration a new benchmark for Indian banking innovation.

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The Directorate General of Foreign Trade (DGFT) launched the enhanced Certificate of Origin (eCoO) 2.0 System to simplify export certification and boost trade efficiency. It features multi-user access, allowing exporters to authorize multiple users under one Importer Exporter Code (IEC). Aadhaar-based e-signing is now supported, along with digital signature tokens for greater flexibility. The system includes an integrated dashboard for easy access to eCoO services, Free Trade Agreement (FTA) info, and trade events. Over 7,000 eCoOs are processed daily, connecting 125 issuing agencies across the country.

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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.

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The Finance Minister announced that National Bank for Financing Infrastructure and Development (NaBFID) will establish a partial credit enhancement facility for corporate bonds in the infrastructure sector. NaBFID is a specialized Development Finance Institution (DFI) supporting infrastructure development in India. It was established in 2021 under the National Bank for Financing Infrastructure and Development Act, 2021. Its objectives include filling gaps in long-term infrastructure financing, developing bond and derivatives markets, and boosting economic growth. NaBFID is regulated and supervised by the RBI as an All-India Financial Institution (AIFI). It focuses on long-term credit solutions for infrastructure projects in India.

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Tata Steel has become the first Indian company to develop hydrogen-compliant pipes for transporting hydrogen. This is a major step in supporting India’s clean energy transition and aligns with the National Hydrogen Mission. These pipes meet all critical requirements for safe hydrogen transportation. This innovation strengthens Tata Steel’s role in sustainable energy and infrastructure development. It supports the global push for clean energy solutions and reinforces India’s commitment to hydrogen as a future energy source.

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Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund 2.0 aims to revive stalled real estate projects by providing financial support. The Union Budget 2025-26 has allocated ₹15,000 crore to complete one lakh housing units. Real estate developers and National Real Estate Development Council (NAREDCO) had long requested the fund’s second tranche. SWAMIH Fund I, launched earlier, was created to complete stressed and stalled housing projects. It is sponsored by the Ministry of Finance. It is a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI.

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India is now the world’s second-largest mobile manufacturing country after China, followed by Vietnam. 99.2% of mobile phones sold in India are made domestically. Mobile phones account for 43% of India’s total electronics production. The electronics sector grew rapidly, reaching a valuation of USD 155 billion in FY23. Electronics production nearly doubled from USD 48 billion in FY17 to USD 101 billion in FY23. Electronics is now India’s fifth-largest export commodity. Despite growth, India holds less than 1% of the global electronics export share.