Business, Economy & Banking Current Affairs MCQs

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At the recent World Audio Visual Entertainment Summit (WAVES) in Mumbai, the Prime Minister highlighted India’s growing Orange Economy driven by content, creativity and culture. The Orange Economy, also called the creative economy, covers sectors that are based on cultural and creative ideas. As per the United Nations Economic Network, it focuses on using creative assets to boost economic growth and development. It combines economic, cultural and social factors while linking with technology, intellectual property and tourism. It includes industries based on individual talent, skill and innovation that can generate jobs, income and cultural value.

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Tunnel No. 8 (T-8) is set to become India’s longest railway tunnel at 14.57 km, overtaking Tunnel No. 50 (T-50), which is 12.77 km long on the Udhampur-Srinagar-Baramulla Railway Link. It is part of the Rishikesh–Karnaprayag Broad Gauge Rail Link Project in Uttarakhand. T-8 is a twin tunnel located on the Devprayag–Janasu stretch of this 125-km rail line. The Rishikesh–Karnaprayag Broad Gauge Rail Link Project is being implemented by Rail Vikas Nigam Limited (RVNL), a Navratna Public Sector Undertaking under the Ministry of Railways.

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The International Monetary Fund (IMF) recently projected that global public debt may surpass the COVID-19 pandemic level of 98.9% of Gross Domestic Product (GDP) recorded in 2020. Sudan now has the highest debt-to-GDP ratio in the world at 252%, due to long-term conflict and economic struggles. Among developed countries, Japan ranks second with a debt-to-GDP ratio of 234.9%, mainly due to fiscal deficits and an ageing population. The United States ranks eighth with a ratio of 123%, while France and Canada follow with 116.3% and slightly lower respectively. China ranks 21st globally with a public debt ratio of 96%, which is lower than many advanced economies. India stands at 31st with a debt-to-GDP ratio of 80%, and the central government aims to reduce it to 50±1% by March 31, 2031.

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Reliance NU Suntech recently signed a 25-year Power Purchase Agreement with the Solar Energy Corporation of India Limited (SECI) to build Asia’s largest single-location integrated solar and Battery Energy Storage System (BESS) project. SECI is a Central Public Sector Undertaking (CPSU) under the Ministry of New and Renewable Energy (MNRE), dedicated to expanding Renewable Energy (RE) in India. SECI was formed in 2011 as a not-for-profit company and later became a commercial entity in 2015. It was established to support the National Solar Mission and has Miniratna Category-I status. SECI acts as the main agency for implementing solar, wind, and hybrid energy projects across India. It also helps fulfill India’s Nationally Determined Contributions (NDCs) by inviting developers through tenders for RE projects.

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India has become the third-largest vehicle manufacturer in the world as per Union Minister for Road Transport and Highways. This was highlighted at the 4th International Bioenergy Biofuels Biomass (BBB) Summit and Expo on Bioenergy Value Chain held in New Delhi. The growing demand for various types of vehicles is increasing fossil fuel consumption. There is a strong push to reduce fuel imports and increase exports to strengthen the economy. The summit also focused on promoting technologies that use the country’s biomass resources for energy.

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The Reserve Bank of India (RBI) has made it mandatory for Regulated Entities (REs) to report details of their Digital Lending Apps (DLAs) through the Centralised Information Management System (CIMS) portal. Centralised Information Management System (CIMS) is a modern data management platform introduced by the RBI to handle large-scale data processing, analysis, and sharing. It acts as a central data warehouse, using advanced tools for data mining, text analysis, and visual insights across financial and economic sectors. It improves the efficiency of regulatory reporting and reduces workload for banks and regulated firms. It helps RBI monitor the financial system better and react faster to potential risks.

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Recently, Google launched the AI First India 2025 Startup Accelerator to support AI-based startups in India. The program is designed for startups in the Seed to Series A funding stages. It focuses on emerging areas like Agentic Artificial Intelligence (AI) and Multimodal Artificial Intelligence (AI). Selected startups will get mentorship from Google experts and access to Cloud Tensor Processing Units (TPUs). They will also receive advanced AI development tools and help in using AI models like Gemini and Gemma. This initiative highlights Google’s strong commitment to building innovation and AI talent in India’s technology ecosystem.

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The Government of India has recently updated its import policy for gold and silver to match customs tariffs with trade rules. This change was officially notified by the Directorate General of Foreign Trade (DGFT). The Directorate General of Foreign Trade (DGFT) works under the Ministry of Commerce and Industry. It is responsible for creating and carrying out India’s Foreign Trade Policy (FTP). DGFT is based in New Delhi and has 24 regional offices across India. Earlier known as the Chief Controller of Imports and Exports (CCI&E), it was renamed DGFT after the 1991 economic reforms to promote trade.

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Recently, Algeria became the 9th member of the New Development Bank (NDB), expanding opportunities for emerging markets. NDB was established in 2015 by Brazil, Russia, India, China, and South Africa under the BRICS group. Its headquarters is in Shanghai, China. It is a multilateral development bank created to fund infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). So far, it has approved investment projects worth 40 billion US dollars, mainly in clean energy and related sectors. Members include Brazil, Russia, India, China, and South Africa, Bangladesh, United Arab Emirates (UAE), Egypt, and now Algeria.

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The Department of Financial Services (DFS) under the Ministry of Finance recently held a colloquium in New Delhi with heads of Debt Recovery Appellate Tribunals (DRATs) and Debt Recovery Tribunals (DRTs). Debt Recovery Tribunals (DRTs) are special courts set up under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. They mainly handle loan default cases involving amounts above ₹20 lakh from banks and financial institutions. DRTs also hear Securitisation Applications (SAs) under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. India currently has 39 DRTs, each led by a Presiding Officer.