Business, Economy & Banking Current Affairs MCQs

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India ranks second in global fish production, after China. Union Minister of Fisheries and Animal Husbandry stated this at a recent programme in Kolkata. Fish production in India rose by 103% in 2024–25 compared to 2013–14. Inland fisheries contribute nearly 75% of total fish production in India. Fisheries sector forms 1.12% of national Gross Value Added (GVA) and 7.26% of agricultural GVA. Around 30 million people are involved in the fisheries value chain. Union Budget 2025–26 proposed the highest ever financial support for fisheries sector.

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The Union Minister for Road Transport and Highways announced that India became the third-largest automobile industry in the world with a market size of ₹22 lakh crore. Globally, the United States ranks first with ₹78 lakh crore, followed by China with ₹49 lakh crore. India’s automobile sector contributes 7.1% to the country’s Gross Domestic Product (GDP) and 49% to manufacturing GDP. It is a key driver of India’s manufacturing and economic growth. In FY25, two-wheelers dominated the domestic market with 76.57% share, while passenger cars held 16.80%.

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Punjab National Bank (PNB) is the first Public Sector Bank in India to adopt the .bank.in domain, enhancing cybersecurity and public trust. The .bank.in domain is reserved exclusively for banks to reduce fraud, phishing, and cyber threats. The move aligns with RBI policies post Monetary Policy Committee meeting on February 7, 2025, addressing increasing digital payment frauds. This step reinforces PNB’s commitment to safe and secure digital banking for its customers.

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State Bank of India (SBI) has launched a Centre of Excellence (CoE) for Micro, Small and Medium Enterprises (MSMEs) at the State Bank Academy (SBA), Gurugram. The Centre of Excellence (CoE) aims to strengthen the MSME ecosystem through capacity building, research, and industry collaboration, supporting India’s vision of becoming a developed nation. State Bank Academy (SBA) provides specialised training in Credit, International Banking, Risk & Compliance, and conducts Research & Development (R&D) in banking. Centre of Excellence (CoE) will develop case studies, research, and online knowledge repositories for MSMEs, including remote areas.

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Unity Small Finance Bank (Unity Bank) and BharatPe launched Unity Bank BharatPe Credit Card, India’s first Equated Monthly Instalment (EMI)-driven credit card on the RuPay network. The card allows customers to pay in full or convert spends into EMIs up to 12 months. It has been developed in partnership with National Payments Corporation of India (NPCI). It can be linked to Unified Payments Interface (UPI) for payments at merchants nationwide. It marks a major innovation in India’s digital credit and payments ecosystem.

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Recently, the National Consumer Disputes Redressal Commission (NCDRC) ruled that companies in India must follow fair pricing policies and avoid gender-based price discrimination. Currently, there are no specific laws in India to directly address the Pink Tax. Pink Tax refers to higher prices charged for products marketed to women compared to similar products for men. It affects items such as toys, haircuts, dry cleaning, razors, shampoos, body lotions, deodorants, skincare, beauty products, clothing, jeans, T-shirts, and salon services. The extra cost benefits companies and is not a government-imposed tax. The term originated in California, USA, in 1994 after observing consistent gender-based price differences.

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The Insurance Regulatory and Development Authority of India (IRDAI) has officially launched the Bima Sugam Portal. The launch was announced by the Bima Sugam India Federation (BSIF) at the Insurance Regulatory and Development Authority of India (IRDAI) headquarters in Hyderabad. It is a unified digital marketplace for insurance bringing insurers, intermediaries, and customers on one platform. The platform unifies life, health, motor, travel, property, agriculture, and commercial insurance on a single digital space. The portal is backed by the Life Insurance Council and the General Insurance Council (GIC).

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On the decade-long celebrations of “Make in India,” the Industrial Park Rating System (IPRS) 3.0 was launched in New Delhi. Industrial Park Rating System (IPRS) 3.0 is developed by the Department for Promotion of Industry and Internal Trade (DPIIT) with support from the Asian Development Bank (ADB). The initiative aims to strengthen India’s industrial ecosystem and enhance competitiveness of industrial infrastructure. The system assesses and benchmarks facilities, infrastructure, and performance of industrial parks across India. IPRS 3.0 provides stakeholders with reliable data, encourages best practices, and supports world-class infrastructure creation.

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Union Minister of Commerce & Industry, Shri Piyush Goyal, launched Logistics Data Bank (LDB) 2.0 in New Delhi on the decade-long celebrations of Make in India. LDB 2.0 provides critical insights into logistics facilities and infrastructure, enabling real-time tracking and performance assessment. It is developed by National Industrial Corridor Development Corporation (NICDC) Logistics Data Services – NLDSL, it supports exporters, Micro, Small & Medium Enterprises (MSMEs), and government planning. It integrates with Unified Logistics Interface Platform (ULIP) APIs for tracking via container, truck, trailer numbers, and railway Freight Note Receipts (FNRs).

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Indian travelers can now use Unified Payments Interface (UPI) apps to make purchases in Qatar, the eighth country to adopt UPI for international payments. Qatar Duty Free is the first merchant to accept QR code-based UPI transactions. NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and Japanese gateway NETSTARS enabled UPI at select point-of-sale (POS) terminals. Other countries with UPI access include Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and United Arab Emirates. The move promotes a globally interoperable payment network and cross-border digital transactions.