Business, Economy & Banking Current Affairs MCQs

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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.

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India became the second country after China to launch an Electronic Personnel License (EPL) for pilots. Union Civil Aviation Minister K Rammohan Naidu launched the EPL on 20 February 2025 at Udaan Bhawan, New Delhi. The EPL is part of the Digital India initiative and aims to improve Ease of Doing Business. It replaces the existing smart card with a digital license accessible through the eGCA Mobile App.

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The Reserve Bank of India (RBI) launched the 10th Financial Literacy Week (FLW) 2025 with the theme “Financial Literacy: Women’s Prosperity.” The event will be observed from February 24 to 28, 2025. RBI Governor Sanjay Malhotra inaugurated the event, emphasizing women’s role in inclusive and sustained economic growth. RBI planned multimedia campaigns to promote financial literacy for women. Banks were encouraged to conduct awareness activities. The initiative aligns with RBI’s goal of financial inclusion and gender equality in economic participation.

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The Ministry of Mines reclassified Barytes, Feldspar, Mica, and Quartz as major minerals through a gazette notification. Major minerals are regulated by the Central Government under the MMDR Act, 1957 and have high economic and strategic significance. These minerals are now governed by the Indian Bureau of Mines (IBM) with a lease period of up to 50 years and revenue accruing to state governments.

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Tuhin Kanta Pandey, currently Finance and Revenue Secretary, replaces Madhabi Puri Buch as SEBI Chairman after her term ends on February 28, 2025. The Appointments Committee of the Cabinet, chaired by PM Modi, approved his appointment for three years or until further orders. A 1987-batch IAS officer from Odisha cadre, Pandey served as Department of Investment and Public Asset Management (DIPAM) Secretary from 2019 and became Finance Secretary in September 2024. He played a key role in Air India’s sale and LIC’s public listing.

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Amazon launched a quantum computing chip named Ocelot. It is a prototype with limited computing power. It consists of two integrated silicon microchips. Its high-quality oscillators are made from superconducting Tantalum. It uses cat qubits, inspired by Schrödinger’s cat experiment. Ocelot can reduce quantum error correction costs by up to 90% compared to current methods.

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The RBI released its quarterly House Price Index (HPI) for the December 2024-25 quarter on February 27, 2025. The all-India HPI grew by 3.1% in Q3 2024-25, lower than 4.3% in the previous quarter and 3.8% a year ago. Data is based on transactions from 10 major cities: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. Kolkata saw the highest annual HPI growth (8.1%), while Kanpur had the lowest (0.1%). On a quarterly basis, HPI rose by 0.4%, with most major cities recording a price increase.

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Securities and Exchange Board of India (SEBI) launched a centralized database portal for corporate bonds called Bond Central. It serves as a single, authentic source of information on corporate bonds in India. It is developed by the Online Bond Platform Providers Association (OBPP Association) with collaboration from Market Infrastructure Institutions (MIIs) like stock exchanges and depositories. The portal is free to access and acts as an information repository for the public. It aims to enhance transparency and help investors make informed decisions.

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The Geological Survey of India (GSI) is celebrating its 175th year of geoscientific legacy. It was established in 1851 by Sir Thomas Oldham to locate coal deposits for the Railways. GSI provides geological expertise for policy-making, commercial, and socio-economic needs. It documents geological processes across India’s land and offshore areas. The organization conducts geological, geophysical, and geochemical surveys with advanced techniques. Its primary functions include updating geoscientific data and assessing mineral resources. GSI operates under the Ministry of Mines as an attached office.

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Union Minister Pralhad Joshi launched India’s first AI-powered solar manufacturing line at Goldi Solar’s new facility in Kosamba, Surat, Gujarat. The AI-powered facility enhances precision, scalability, and efficiency, supporting India’s net-zero transition. The plant has a planned production capacity of 14 GW and integrates industry-first AI innovations. High-speed stringers use AI automation to produce 10,000 solar cells per hour with minimal errors and waste. AI-powered Automated Optical Inspection (AOI) ensures real-time defect detection.