Business, Economy & Banking Current Affairs MCQs

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Department for Promotion of Industry and Internal Trade data shows that Singapore was the top source of FDI (Foreign Direct Investment) equity inflows into India during April–December FY26, contributing 17.6 billion (37%). The United States (16%) and Mauritius (10%) were the next major contributors, followed by Japan and the UAE. India received a total of 47.87 billion in FDI equity inflows during this period. The top sectors attracting FDI were Computer Software & Hardware (22%) and Services (Financial, Banking, R&D) at 18%. Among states, Maharashtra received the highest inflows, followed by Karnataka.

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The Employees Provident Fund Organisation is launching the E-PRAAPTI Portal (EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts). The portal aims to identify, track, and activate inoperative EPF accounts. It uses Aadhaar-based authentication for secure access to old accounts. It enables linking of old EPF accounts with the Unique Account Number (UAN). In the initial phase, access will be member ID-based for easier rollout. Later, it will also help users retrieve accounts even without member ID details.

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National Stock Exchange (NSE) launched Electronic Gold Receipts (EGRs) as a new trading segment. Electronic Gold Receipts (EGRs) are dematerialised securities representing ownership of physical gold, held in Demat (Dematerialised) accounts. The underlying gold is stored in Securities and Exchange Board of India (SEBI)-regulated vaults. A SEBI-registered Vault Manager (VM) ensures safe storage and standardisation. Each EGR is backed by actual gold, ensuring authenticity. Physical gold is deposited and converted into EGR units, which are tradable on exchanges. Investors can reconvert EGRs into physical gold.

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The Reserve Bank of India reshuffled portfolios among deputy governors after the appointment of Rohit Jain for a three-year term. Rohit Jain succeeded T. Rabi Sankar and took charge of key departments like corporate strategy, IT, fintech, foreign exchange, and risk monitoring. Currency management and payment systems were reassigned to Shirish Chandra Murmu.
Swaminathan J became the senior-most deputy governor and took over the secretary’s department along with supervision-related functions. Poonam Gupta retained her existing portfolios including monetary policy and economic research. The reshuffle aims to streamline responsibilities and improve coordination within RBI operations.

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The Reserve Bank of India informed the Supreme Court that 30 banks have been integrated into the UDGAM portal to help legal heirs trace funds of deceased account holders. UDGAM stands for “Unclaimed Deposits-Gateway to Access inforMation” and is an online portal developed by the Reserve Bank of India. The portal was developed in collaboration with Reserve Bank Information Technology Private Limited (ReBIT), Indian Financial Technology and Allied Services (IFTAS), and selected banks. UDGAM enables registered users to search unclaimed deposits and accounts across multiple banks through a single centralized platform.

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The Department of Financial Services approved Viability Plan 2.0 for Regional Rural Banks to improve financial sustainability and operational efficiency. The plan will be implemented for three years from 2025–26 to 2027–28 under the Ministry of Finance. It aims to strengthen governance reforms, improve profitability, enhance operational excellence, and ensure long-term competitiveness of Regional Rural Banks. Viability Plan 1.0 was introduced in Financial Year 2022–23 focusing on credit expansion, Non-Performing Asset reduction, digital adoption, and cost rationalization. Viability Plan 2.0 includes 30 performance parameters to monitor the functioning of all 28 Regional Rural Banks.

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The Department of Financial Services under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a coverage capacity of USD 1.5 billion. The initiative includes a sovereign guarantee of ₹12,980 crore to ensure uninterrupted maritime insurance amid global geopolitical tensions, especially in the Middle East. BMIP covers maritime risks such as Hull and Machinery, Cargo, Protection and Indemnity (P&I), and War Risk for Indian vessels and cargo operations linked to India. The pool aims to strengthen India’s maritime risk protection framework and enhance sovereign control over maritime trade and insurance.

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India has become the second-largest trading partner of Bangladesh, overtaking the United States. According to the Bangladesh Bureau of Statistics, India accounted for 8.47% of Bangladesh’s total trade in February, valued at Tk 123.28 billion. The United States followed closely with an 8.46% share worth Tk 123.17 billion. The development reflects Bangladesh’s increasing economic dependence on regional trade and imports from neighbouring countries.

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RAINMUMBAI is India’s first SEBI-approved exchange-traded weather derivatives contract launched by National Commodity and Derivatives Exchange. The contract is designed to help businesses hedge losses caused by unpredictable weather and monsoon variability. Unlike traditional insurance, weather derivatives are settled using actual weather data rather than physical damage assessments, enabling faster payouts. The product was developed in collaboration with Indian Institute of Technology Bombay using Mumbai rainfall data. Rainfall data will be provided by the India Meteorological Department from Santacruz and Colaba stations.

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Reserve Bank of India constituted an 8-member expert committee named Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE). The committee will study the impact of quantum technology on the financial sector and recommend measures to strengthen banking security systems. Q-SAFE will examine risks posed by quantum computing to existing cryptographic standards protecting financial transactions and digital infrastructure. The panel will review the financial sector’s cryptographic inventory using a Cryptography Bill of Materials (CBOM).