Business, Economy & Banking Current Affairs MCQs

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Microsoft CEO Satya Nadella announced a partnership with India’s AI Mission to upskill 500,000 people and promote inclusive growth by 2026. An MoU was signed to drive AI innovation, productivity, and inclusivity across India. An AI Center of Excellence, ‘AI Catalysts,’ will support 100,000 developers and rural AI innovation through hackathons and solutions. ‘AI Productivity Labs’ at 20 institutes will provide foundational AI education to 20,000 educators. Citizen-centric AI solutions will address healthcare, education, accessibility, and agriculture. A five-year partnership with RailTel will boost digital and AI transformation in Indian Railways and public sectors.

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Indichip Semiconductors and Japan’s Yitoa Micro Technology will establish India’s first private semiconductor manufacturing facility in Andhra Pradesh. The investment exceeds ₹14,000 crore and focuses on producing silicon carbide (SiC) chips. The facility will start with a capacity of 10,000 wafers/month, scaling up to 50,000 wafers/month in 2–3 years. The project aligns with the Aatmanirbhar Bharat vision, supporting electric vehicles and renewable energy solutions. Andhra Pradesh’s semiconductor policy aims to make the state a global manufacturing hub. The initiative will create thousands of jobs, spur innovation, and boost India’s semiconductor footprint.

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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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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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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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The Union Finance Minister announced a five-year mission to boost cotton farming productivity and promote Extra-Long Staple (ELS) cotton. ELS cotton, known as the gold standard in textiles, comes from the Gossypium barbadense species, also called Egyptian or Pima cotton. It has fibre lengths of 30 mm and above, making it stronger and finer. Originating in South America, it is mainly grown in China, Egypt, Australia, and Peru. In India, it is grown in parts of Maharashtra and Tamil Nadu.

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Ministry of Skill Development and Entrepreneurship (MSDE) inaugurated the NSDC International Academy in Greater Noida, Uttar Pradesh. The academy aims to provide world-class skill development and training programs to bridge the gap between Indian youth and global employment opportunities. It offers specialized courses in foreign languages, healthcare, employability skills, and aviation. The initiative is part of the National Skill Development Corporation (NSDC).

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The National Consumer Helpline (NCH), under the Ministry of Consumer Affairs, has adopted an AI-driven system for sector-wise grievance analysis. The number of calls received has grown from 12,553 in Dec 2015 to 1,55,138 in Dec 2024. Monthly complaints registered have increased from 37,062 in 2017 to 1,12,468 in 2024. Grievance disposal time has reduced from 66.26 days in 2023 to 48 days in 2024. 1,038 companies have become convergence partners to resolve issues faster. Success stories from sectors like e-commerce, broadband, and banking show improved grievance resolution, boosting consumer trust.

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Agricultural and Processed Food Products Export Development Authority (APEDA), in collaboration with AgroStar and Kay Bee Exports, completed India’s first-ever commercial trial shipments of premium Sangola and Bhagwa pomegranates to Australia by sea. APEDA was established in 1985 under the Agricultural and Processed Food Products Export Development Authority Act. It replaced the Processed Food Export Promotion Council (PFEPC) and functions under the Ministry of Commerce and Industry. APEDA promotes and develops the export of scheduled products, requiring exporters to register. It provides financial assistance, information, and guidelines to support scheduled product exports.

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Axis Bank became the first Indian bank to implement compliance for the Digital Personal Data Protection Act (DPDP Act) 2023 in partnership with Privy by IDfy. The DPDP Act 2023 sets new standards for data protection and accountability. It requires privacy notices in 22 languages, maintaining consent records, obtaining parental consent for minors, and reporting privacy breaches. The initiative reflects Axis Bank’s commitment to customer privacy, ethics, and transparency.