Business, Economy & Banking Current Affairs MCQs

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India’s first integrated API, Green Hydrogen, and 2G Ethanol manufacturing facility will be set up in Baddi-Barotiwala-Nalagarh, Solan, Himachal Pradesh. The Himachal Pradesh government signed a memorandum with M/s Spray Engineering Devices Limited on 5th March 2025 in Shimla. The project, worth ₹1400 crore, will create 1000 direct jobs. It supports the state’s goal to become India’s first green energy state by March 2026. A 30 MW green hydrogen plant will power the API facility, later expanding to 50 MW. Green hydrogen is produced via electrolysis using renewable energy sources like water, sun, and wind.

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Lohum Company launched India’s first lithium-grade refinery in Greater Noida, Uttar Pradesh. The refinery will produce 1,000 metric tonnes of battery-grade lithium annually, with plans to expand to 20,000 tonnes by 2029. Black mass from e-waste will be recycled to extract lithium. The company refines 90% of India’s lithium and is expanding its Cathode Active Material (CAM) production. The refinery’s technical efficiency competes with China and is more economical than US/European facilities. This expansion reduces India’s dependence on China for lithium supply, especially with growing EV demand.

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In March 2025, scientists in France discovered a massive, naturally occurring white hydrogen deposit in the Moselle region, estimated to be worth $92 trillion and containing 46 million tons of hydrogen, potentially revolutionizing the clean energy sector. White hydrogen is naturally occurring, formed by geochemical reactions in hard rock, similar to oil and gas. It is small, light, and escapes cap rocks easily, making extraction a challenge. The industry is nascent, with only a few innovators exploring its potential. This discovery could have a significant impact on the global energy transition, potentially helping countries reduce their reliance on fossil fuels and transition to cleaner energy sources.

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The Asian Development Bank (ADB) launched the Frontier Seed (Pacific) program to support local businesses and strengthen capital markets in the Pacific region. The program promotes sustainable economic growth with an initial $4 million commitment. It has signed $200,000 technical assistance agreements with SeaPAC Pte Ltd (prawn production) and Kahuto Pacific (aerial mapping). The initiative is backed by international partners like the Ocean Resilience and Coastal Adaptation (ORCA) Trust Fund, Nordic Development Fund, and UK FCDO. It aims to attract investors, create jobs, and enhance economic resilience in the Pacific region.

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Indian Institute of Corporate Affairs (IICA) launched Samarthya: National Competition on Corporate Rescue Strategies 2025 at Manesar, Haryana. It provides a platform for students to develop turnaround strategies for financially distressed businesses. It focuses on real-world corporate rescue, strategic thinking, and expert engagement. Participants analyze financial statements, develop rescue strategies, and present solutions to a panel of judges. It offers networking opportunities with insolvency professionals, legal experts, and business leaders. It provides industry exposure, expert feedback, and recognition for innovative solutions.

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The government proposed abolishing the 6% Equalisation Levy (EL) on online ads from April 1, 2025. The move benefits advertisers on platforms like Google, X, and Meta. Equalisation Levy (EL) was introduced in 2016 for online ads and extended in 2020 to e-commerce services. It imposed a 6% tax on non-residents for online ads and a 2% tax on e-commerce, which was removed in 2024. The decision aims to ease US trade tensions, as the US threatened reciprocal tariffs from April 2.

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The Lanka India Business Association (LIBA) was officially launched in Sri Lanka to boost economic collaboration with India. It aims to strengthen trade, investment, and business networking between both nations. India is expected to become the world’s second-largest economy by 2075, making this initiative crucial. LIBA will promote partnerships across industries like technology, trade, finance, and education. It seeks to encourage bilateral trade, connect entrepreneurs, and support startups and Micro, Small & Medium Enterprises (MSMEs). LIBA aims to leverage Sri Lanka’s strategic location as a trade hub and provide facilitation services for investors.

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The Minister of State for Heavy Industries and Steel informed Parliament about four Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) Centres. These centres were established under the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector. SAMARTH Udyog Bharat 4.0 is an Industry 4.0 initiative by the Ministry of Heavy Industry and Public Enterprises. Industry 4.0 involves digital technologies like Artificial Intelligence (AI), Internet of Things (IoT), and robotics to improve efficiency and decision-making. These centres assist industries, including Micro, Small, and Medium Enterprises (MSMEs), by training the workforce through workshops, consultancy, and incubation support for startups.

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Pakistan has reportedly found a huge deposit of antimony in Balochistan, a region troubled by conflict. Antimony is a chemical element with the symbol Sb and atomic number 51, and it is a metalloid that is solid at room temperature. It has poor conductivity of heat and electricity and comes in forms like ingots, granules, or cast pieces. Its main ore is stibnite, and it is also found as a byproduct in lead-zinc-silver mines. China is the world’s largest producer of the chemical element antimony. China produces 88% of the world’s antimony, followed by Bolivia, Russia, and Tajikistan. It is used in electronics, batteries, bullets, flame-retardants, and glassware.

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The Ministry of Finance is launching the One State-One Regional Rural Bank (RRB) policy to improve efficiency and cut costs by reducing RRBs from 43 to 28. This is part of the fourth phase of RRB consolidation, with 15 RRBs set to be merged across several states. Andhra Pradesh, with four RRBs, will see major restructuring, while Uttar Pradesh and West Bengal, each with three RRBs, will also undergo consolidation. States like Bihar, Gujarat, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan, each having two RRBs, will see mergers. RRBs were created under the Regional Rural Bank Act, 1976 to support rural credit for farmers, artisans, and workers.