Business, Economy & Banking Current Affairs MCQs

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The Finance Ministry launched the revamped ‘Baanknet’ e-auction portal as a one-stop platform for buyers and investors. It consolidates e-auction information from all Public Sector Banks (PSBs) on properties like flats, houses, plots, shops, industrial land, vehicles, and machinery. The portal simplifies property discovery and participation in auctions, enhancing transparency and efficiency. It aids PSBs in recovering distressed assets, improving their balance sheets, and boosting credit availability. More than 1,22,500 properties are listed, and PSB executives received training for effective use.

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India’s economic growth is projected at 6.7% annually for fiscal years starting April 2025, as per the World Bank. The services sector is expected to continue expanding steadily. Manufacturing is set to strengthen due to government efforts to improve the business environment. Investment growth will remain stable, with private investment rising and public investment moderating. For 2024-25, growth is expected to ease to 6.5% due to slower investment and weak manufacturing performance.

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The Rubber Board launched two initiatives, iSNR (Indian Sustainable Natural Rubber) and INR Konnect. iSNR ensures compliance with the EU Deforestation Regulation (EUDR) by streamlining the rubber supply chain for EU markets. It provides traceability certificates verifying the origin of rubber products and their compliance with EUDR standards. This initiative aims to make Indian natural rubber competitive and responsible globally, promoting sustainable production and industry growth. INR Konnect is a web-based platform connecting untapped rubber growers with adopters to improve plantation productivity. It certifies participants, offers training in sustainable practices, and maintains a database of certified tappers.

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The Directorate General of Foreign Trade (DGFT) launched the enhanced Certificate of Origin (eCoO) 2.0 System to simplify export certification and boost trade efficiency. It features multi-user access, allowing exporters to authorize multiple users under one Importer Exporter Code (IEC). Aadhaar-based e-signing is now supported, along with digital signature tokens for greater flexibility. The system includes an integrated dashboard for easy access to eCoO services, Free Trade Agreement (FTA) info, and trade events. Over 7,000 eCoOs are processed daily, connecting 125 issuing agencies across the country.

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The Ministry of Micro, Small, and Medium Enterprises (MSME) has launched the MSME Trade Enablement and Marketing (TEAM) initiative to help small businesses adopt digital commerce. It has a budget of ₹277.35 crore for three years and aims to onboard 5 lakh MSMEs onto Open Network for Digital Commerce (ONDC). The initiative focuses on inclusivity, targeting 50% women-led enterprises. MSMEs will get digital storefronts, payment solutions, and logistics support via ONDC. More than 150 workshops will educate MSMEs, especially women-led and SC/ST-led businesses. A dedicated portal will offer training, financial aid, and grievance support. The initiative aligns with India’s digital transformation goals and complements schemes like PM Vishwakarma and Digital MSME.

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The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, approved the revision of ethanol procurement prices for Oil Marketing Companies (OMCS) for the Ethanol Supply Year 2024-25 (Nov 1, 2024 – Oct 31, 2025). The Ethanol Blended Petrol (EBP) Programme aims to reduce pollution, conserve foreign exchange, and support the sugar industry in clearing cane price arrears for farmers. The EBP programme, launched in 2003 by the Ministry of Petroleum and Natural Gas, promotes the use of environment-friendly alternative fuels.

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Tata Steel has become the first Indian company to develop hydrogen-compliant pipes for transporting hydrogen. This is a major step in supporting India’s clean energy transition and aligns with the National Hydrogen Mission. These pipes meet all critical requirements for safe hydrogen transportation. This innovation strengthens Tata Steel’s role in sustainable energy and infrastructure development. It supports the global push for clean energy solutions and reinforces India’s commitment to hydrogen as a future energy source.

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Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund 2.0 aims to revive stalled real estate projects by providing financial support. The Union Budget 2025-26 has allocated ₹15,000 crore to complete one lakh housing units. Real estate developers and National Real Estate Development Council (NAREDCO) had long requested the fund’s second tranche. SWAMIH Fund I, launched earlier, was created to complete stressed and stalled housing projects. It is sponsored by the Ministry of Finance. It is a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI.

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The National Consumer Helpline (NCH), under the Ministry of Consumer Affairs, has adopted an AI-driven system for sector-wise grievance analysis. The number of calls received has grown from 12,553 in Dec 2015 to 1,55,138 in Dec 2024. Monthly complaints registered have increased from 37,062 in 2017 to 1,12,468 in 2024. Grievance disposal time has reduced from 66.26 days in 2023 to 48 days in 2024. 1,038 companies have become convergence partners to resolve issues faster. Success stories from sectors like e-commerce, broadband, and banking show improved grievance resolution, boosting consumer trust.

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The Ministry of Skill Development and Entrepreneurship (MSDE), National Skill Development Corporation (NSDC), and Intel India launched the ‘AI for Entrepreneurship’ micro-learning module. It aims to simplify AI concepts and encourage entrepreneurial thinking among young innovators. The programme targets training 1 lakh youth by 2025 to help them succeed in a technology-driven economy. The module focuses on AI for business growth, entrepreneurial strategies, and problem-solving. It is designed for both urban and rural learners to ensure inclusivity.