Business, Economy & Banking Current Affairs MCQs

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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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Bhutan recently launched the world’s first national-level cryptocurrency tourism payment system in partnership with Binance Pay and DrukPay Kunzang Bank (DK Bank). Tourists can now use their Binance accounts to pay for services like airfares, visas, hotels, and even local fruits using cryptocurrencies. The system is built into the Binance app and supports over 100 digital currencies, including Binance Coin (BNB), Bitcoin (BTC), and USD Coin (USDC). Payments are made in real-time using QR codes, and settlements are done instantly in Bhutanese currency through DK Bank. This helps local artisans and small businesses, especially in remote areas, accept digital payments easily and boosts financial inclusion.

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The Investor Education and Protection Fund Authority (IEPFA) and the Securities and Exchange Board of India (SEBI) launched the “Niveshak Shivir” initiative to help investors reclaim unclaimed dividends and shares. This nationwide program offers direct support to investors, making it easier to recover unclaimed assets. IEPFA provides a digital tool for tracking shares and filing claims. The initiative includes on-ground helpdesks for investors to interact with company representatives. It aims to reduce reliance on intermediaries, increase transparency, and improve financial literacy. The program also speeds up the resolution of investor grievances.

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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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As per the latest World Economic Outlook by the International Monetary Fund (IMF), India has overtaken Japan to become the world’s fourth-largest economy with a nominal Gross Domestic Product (GDP) of around USD 4.18 trillion. This was confirmed by the Chief Executive Officer (CEO) of NITI Aayog, B.V.R. Subrahmanyam, during the 10th NITI Aayog Governing Council Meeting. Only the United States, China, and Germany are currently ahead of India in global rankings. IMF projects India will become the third-largest economy by 2028 with a GDP of USD 5.584 trillion. India remains the fastest-growing major economy, expected to grow above 6% over the next two years.

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Flipkart has become the first major Indian e-commerce company to receive a Non-Banking Financial Company (NBFC) licence from the Reserve Bank of India (RBI). This marks the first time RBI has allowed a large e-commerce platform to operate its own NBFC. Unlike traditional NBFCs, Flipkart can lend money directly but cannot accept public deposits. Earlier, most e-commerce platforms offered loans through partnerships with banks or NBFCs. With this licence, Flipkart can now lend independently, which offers better control and higher profits. This development highlights RBI’s evolving regulatory stance on digital commerce and fintech integration.

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The Reserve Bank of India (RBI) released its latest Urban Consumer Confidence Survey (UCCS) in May 2025. The UCCS showed that urban consumers had stable views about the current economic situation but were hopeful about the future. The UCCS is a bi-monthly survey by RBI to study urban household opinions on economy, employment, income, inflation, and spending. In May 2025, the survey covered 6,090 people from 19 cities. For the first time, RBI renamed it as UCCS, to separate it from the new Rural Consumer Confidence Survey.

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The Union Finance Minister recently chaired the 6th meeting of the Governing Council of the National Investment and Infrastructure Fund (NIIF) in New Delhi to review fund performance, strategic partnerships, and new fund launches. The National Investment and Infrastructure Fund (NIIF) is a government-anchored investment platform that mobilizes long-term capital for infrastructure and key sectors in India. NIIF was announced in the Union Budget 2015–16 and established in 2015. Its headquarters is in Mumbai, Maharashtra.

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Recently, Indian Farmers Fertilizer Cooperative Limited (IFFCO) announced plans to set up its first overseas nano fertiliser plant in Brazil. IFFCO had earlier launched the world’s first Nano Liquid Urea in 2021 and Nano Di-Ammonium Phosphate (Nano-DAP) in 2023. Nano fertilizers are plant nutrients enclosed in nanomaterials that are 100 nanometres or smaller in size. These fertilizers allow controlled release and slow diffusion of nutrients into the soil.

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Recently, to tackle climate change risks, India is focusing on environmental disclosure frameworks like Business Responsibility and Sustainability Reporting (BRSR). BRSR is a mandatory reporting requirement for the top 1,000 listed companies in India. It was introduced by the Securities and Exchange Board of India (SEBI). The aim of BRSR is to promote sustainable business practices among companies. It requires companies to share information about their Environmental, Social, and Governance (ESG) performance in a transparent way.