Business, Economy & Banking Current Affairs MCQs

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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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LIC launched the ‘One Man Office’ (OMO) initiative on February 17, 2025. It is a digital initiative to enhance LIC agents’ efficiency with 24×7 digital services. The initiative aligns with LIC’s vision of ‘Insurance for All by 2047.’ It provides online tools for policy sales, customer service, and business management. LIC aims to make its agents independent and productive through digital transformation. The initiative eliminates the need for a traditional office setup. It benefits both policyholders and LIC by integrating technology into insurance services.

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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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Former RBI Governor Shaktikanta Das has been appointed Principal Secretary-2 to Prime Minister Narendra Modi. His selection was approved by the Appointments Committee of the Cabinet. He is a 1980-batch IAS officer from the Tamil Nadu cadre. His tenure will last until the Prime Minister’s term ends or until further orders.

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Paytm launched ‘Paytm Solar Soundbox’, India’s first solar-powered payment soundbox for merchants. The device charges quickly with minimal sunlight and provides full-day power for uninterrupted payments. It is a Made in India product and an eco-friendly solution using low-cost alternative energy. It is designed for rural and remote areas with electricity shortages, ensuring digital inclusion. The initiative supports small shop owners, promotes financial inclusion, and encourages sustainable practices across India.

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The Union Minister of Ports, Shipping & Waterways launched the One Nation-One Port Process (ONOP). ONOP aims to standardize port operations across India’s major ports. The initiative removes inconsistencies in documentation, reduces inefficiencies, lowers costs, and minimizes delays. The Ministry reduced container operation documents by 33%, from 143 to 96. Bulk cargo documents were cut by 29%, from 150 to 106.

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Microsoft has launched a new AI assistant called Dragon Copilot for healthcare. It is part of Microsoft Cloud for Healthcare and helps doctors with clinical documentation. It transcribes clinical notes, drafts paperwork, and searches medical sources. It integrates with Dragon Medical One (DMO) and DAX for speech recognition. It allows voice-to-text transcription, AI-generated notes, and medical searches. It automates tasks like referral letters, visit summaries, and clinical evidence documentation.

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India’s first Exploration Licence (EL) auction and AI-powered exploration hackathon were launched in Goa to boost mineral discovery. Union Minister G. Kishan Reddy and Goa CM Pramod Sawant presided over the event, which also included a roadshow for the fifth tranche of critical mineral block auctions. The AI Hackathon 2025 focused on using AI for mineral targeting and sustainable mining innovation. 13 exploration license blocks were auctioned for minerals like Rare Earth Elements, zinc, diamonds, copper, and Platinum Group Elements. The initiative aims to accelerate mineral exploration, attract private investments, and strengthen India’s mineral self-reliance.