Business, Economy & Banking Current Affairs MCQs

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National Bank for Agriculture and Rural Development (NABARD), with Gates Foundation and Dalberg Advisors, launched the National Climate Stack Innovation Challenge to strengthen India’s rural climate resilience. The initiative aims to build a National Climate Stack, integrating fragmented climate datasets into a unified digital platform. It will develop 10–15 year climate hazard forecasting frameworks for risks like heatwaves, floods, droughts, and cyclones affecting agriculture. The project will also create practical dashboards for agriculture, rural finance, and public planning decisions.

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India became the largest supplier of cotton products (apparel and home textiles) to the United States in 2025, replacing China, according to the United States Department of Agriculture (USDA). US imports of cotton products remained stable at 3.3 million tonnes, close to the 15-year average. Imports from China fell to about 0.5 million tonnes, while India exported around 0.6 million tonnes to the US. High US tariffs on China (10–125%) and diversification of supply chains reduced dependence on China. India benefits from vertically integrated textile supply chains, helping meet traceability standards. The Uyghur Forced Labor Prevention Act (UFLPA) and geopolitical risks also reduced US sourcing from China.

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Ministry of Statistics and Programme Implementation (MoSPI) released a new Gross Domestic Product (GDP) data series with base year 2022–23, replacing 2011–12. GDP data is crucial for economic policymaking, fiscal planning, investment decisions, and overall macroeconomic analysis in India. The new series includes updated methodologies and improved data collection techniques. Despite improvements, concerns remain over large statistical discrepancies in the data. Questions have also been raised about the accuracy and credibility of real GDP growth estimates.

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PRARAMBH 2026 (Policy Reform and Responsible Action for Mission Viksit Bharat) was launched by the Ministry of Finance as a nationwide awareness campaign on the Income Tax Act, 2025. The initiative aims to familiarise citizens with provisions of the new tax law, which will come into effect from 1 April 2026, through a multi-channel outreach including print, TV, radio, digital and social media. It offers taxpayer-centric resources such as guidance notes, brochures, tutorial videos, FAQs, and public engagement activities like the MyGov Quiz. The campaign adopts a multilingual approach, with materials released in 10 regional languages along with English and Hindi for wider accessibility.

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Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2025 results released for January–December 2025 period. It is conducted by National Statistical Office (NSO) under Ministry of Statistics and Programme Implementation (MoSPI). The purpose is to provide inputs for Gross Domestic Product (GDP) estimation and National Accounts. It covers unincorporated non-agricultural sector, including manufacturing, trade, and services. Tracks key indicators like employment, Gross Value Added (GVA), wages, and digital usage. It helps in understanding the informal economy and Micro, Small and Medium Enterprises (MSMEs) sector.

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Central Consumer Protection Authority (CCPA) has directed hotels and restaurants not to charge extra costs like LPG or fuel charges. It was established under Consumer Protection Act, 2019, which replaced the 1986 Act and came into force in 2020. It works under Ministry of Consumer Affairs, Food and Public Distribution. CCPA protects and enforces consumer rights at a collective level. It prevents unfair trade practices and misleading advertisements.

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The Reserve Bank of India has released the “Payments Vision 2028” roadmap with the theme “Shaping India’s Payment Frontier” to guide the future of digital payments. The vision outlines 15 key initiatives and marks a shift beyond the earlier “4Es” (Everyone, Everywhere, Every time) toward consumer trust, system resilience, and global expansion. It proposes a shared liability framework, where both the sender’s and receiver’s banks will jointly bear responsibility for unauthorised digital transactions. It aims to bring e-commerce marketplaces and payment aggregators under direct RBI regulation, strengthening oversight of digital payments.

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Skill India Digital Hub (SIDH) has been integrated with the e-Shram Portal to provide skilling opportunities to registered workers across all States. Through this integration, e-Shram beneficiaries can directly access training courses and upskilling programmes available on SIDH. SIDH enables issuance of digitally verifiable and tamper-proof credentials, improving trust, portability, and recognition of skills. The platform is integrated with Bhashini, allowing translation into 22 regional languages, promoting inclusivity.

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The National Statistics Office under Ministry of Statistics and Programme Implementation launched the first-ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) in April 2026. The survey covers all States and Union Territories with reference period FY 2024–25 and aims to build a comprehensive database of the incorporated services sector. It uses the GSTN database as the sampling frame and will survey around 1.21 lakh enterprises. ASISSE focuses on corporate entities registered under the Companies Act (1956/2013) and the Limited Liability Partnership Act, 2008. It covers key service sectors such as trade, transport, hospitality, IT, education, and health, which together form a major part of India’s economy.

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The Reserve Bank of India has launched a pilot Benchmark Issuance Strategy (BIS) to streamline state government borrowings starting from FY 2026–27. The strategy will be implemented across nine states, namely Andhra Pradesh, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, and Uttar Pradesh. Under this strategy, states will issue State Development Loans in predefined benchmark tenor buckets based on a pre-announced borrowing calendar. The BIS aims to bring greater structure, predictability, and standardisation to state borrowings in the debt market.