Business, Economy & Banking Current Affairs MCQs

Notes:
Rajasthan launched the Rajasthan Investment Promotion Scheme (RIPS) 2024 to attract private investment with expanded financial incentives. RIPS 2024 improves upon RIPS 2022 by covering more sectors and offering increased financial benefits. It includes new sunrise sectors like Aero & Space, Defence, Drones, Semiconductors, Agri-Tech, and Waste Recycling. The first three mega projects in these sectors receive a 25% additional sunrise booster and a 10% extra incentive over asset creation.

Notes:
NTPC has created a catalyst to produce methanol from gases emitted by fossil-fired power plants. This development was achieved in collaboration with the Indian Institute of Petroleum. CO2 mitigation is a major challenge for fossil-fired power plants. The focus is on capturing CO2 from flue gas and converting it into valuable fuels and chemicals. The catalyst produces methanol with a purity of over 99%.

Notes:
Union Finance Minister Nirmala Sitharaman launched the National MSME Cluster Outreach Programme. The program is a joint effort by the Department of Financial Services and SIDBI. It aims to support Micro, Small, and Medium Enterprises (MSMEs) across India. The initiative will enhance financial access and resources for MSMEs, fostering their growth. The program also seeks to strengthen MSME clusters and address their specific needs.

Notes:
Hindalco Industries was ranked the world’s most sustainable aluminum company for the fifth year in the 2024 S&P Global Corporate Sustainability Assessment with 87 points. Hindalco scored in the 100th percentile for climate strategy, waste management, resource use, community engagement, and employee development. It achieved a 19.54% reduction in greenhouse gas emissions from its FY 2011-12 baseline. In FY24, Hindalco recycled 85% of its operational waste, aiming for zero waste to landfill by 2030, with three units already certified. The company targets sourcing 30% of its energy from renewable sources by 2030.

Notes:
New Zealand has been recognized as the ‘most sustainable trade economy’ for the third consecutive edition of the Sustainable Trade Index 2024. This index evaluates global economies based on their economic growth, societal advancement, and environmental resilience. The report emphasizes the importance of building resilience in trade systems, especially in the context of post-pandemic recovery and ongoing global challenges such as climate change and geopolitical tensions.

Notes:
India is projected to lead the G20 in 2024 with a 7% GDP growth rate, reflecting its robust and fast-growing economy. Indonesia ranks second with 5%, followed by China at 4.8%. Russia (3.6%) and Brazil (3%) rank fourth and fifth, with the African region also at 3%. The US is at 2.8%, while Canada (1.3%) and Australia (1.2%) show slower growth. France, the EU, and the UK are at 1.1%, Italy at 0.7%, and Japan at 0.3%. Germany has zero growth, the lowest among advanced countries. The G20 Summit in Brazil focuses on hunger, poverty, inequality, sustainable development, and governance reforms.

Notes:
Prime Minister Narendra Modi inaugurated a 100 TPD cattle dung-based Compressed Bio-Gas (CBG) plant in Gwalior. The plant is located in Adarsh Gaushala, Laltipara, Gwalior, operated by the Gwalior Municipal Corporation. Adarsh Gaushala is home to over 10,000 cattle and is India’s first modern, self-sufficient gaushala. The plant converts cattle dung and organic waste, like vegetable and fruit scraps, into biogas. It is the first CBG plant in Madhya Pradesh, promoting the “Waste to Wealth” initiative and sustainability.

Notes:
National Fertilizers Limited (NFL) has entered the nano liquid urea production market. Nano Urea, developed and patented by Indian Farmers Fertiliser Cooperative Limited (IFFCO), provides nitrogen to plants through nanotechnology. It is the only nano fertilizer approved by the Indian government and included in the Fertilizer Control Order. Nano Urea has a particle size of 20-50 nm, offering more surface area and nitrogen particles than conventional urea. It is energy-efficient, eco-friendly, and reduces nitrogen loss to the atmosphere.

Notes:
The Advertising Standards Council of India (ASCI) released its Half-Yearly Complaints Report for 2024-25, highlighting a significant number of misleading ads, especially in real estate and offshore betting. ASCI, established in 1985, is a non-profit, voluntary self-regulatory body that ensures ads follow its Code for Self-Regulation, promoting legal, decent, honest, and truthful advertisements. ASCI investigates complaints across various media including TV, print, and online. It is mandatory for new TV ads in India to comply with ASCI codes starting June 18, 2024. ASCI is recognized by the Ministry of Information and Broadcasting and is part of the International Council on Ad Self-Regulation (ICAS).

Notes:
Amara Raja Infra has set up India’s first green hydrogen fuelling station in Leh, Ladakh for NTPC. This will enable emission-free transport in the region, positioning India as a leader in green mobility. NTPC will deploy five hydrogen fuel cell buses. The project includes design, construction, and a three-year operation and maintenance plan. The station produces 80kg of GH2 per day at an altitude of 3,400 meters, with temperatures ranging from -25°C to 30°C. The station is part of India’s National Hydrogen Energy Mission, promoting large-scale hydrogen projects across the country.