Business, Economy & Banking Current Affairs MCQs

Notes:
Tata Motors launched India’s first hydrogen-powered heavy-duty truck trials to support the net-zero emissions goal by 2070. 16 hydrogen-powered trucks will be tested for up to 24 months on key freight routes across Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar. The trucks use Hydrogen Internal Combustion Engine (H2-ICE) and Fuel Cell (H2-FCEV) technologies. Funded by the Ministry of New and Renewable Energy under the National Green Hydrogen Mission. Aims to assess commercial viability and develop infrastructure for hydrogen-powered freight transport.

Notes:
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.

Notes:
HDFC Bank launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to support Indian Air Force (IAF) pensioners, veterans, and families. The bank signed an MoU with IAF through the Assistant Chief of Air Staff – Accounts & Air Veterans and CSC (Common Service Centre) Academy. 25 centres will be set up across Air Force units in cities like New Delhi, Bengaluru, Pune, Guwahati, and Chandigarh. In collaboration with CSC Academy, the bank will offer skill development and financial training to help veterans and their families become financially independent.

Notes:
State Bank of India (SBI) launched ‘Asmita’, a collateral-free, low-interest loan program for women entrepreneurs. The scheme aims to boost business borrowings for women-led MSMEs. It offers quick financial support through a digital process. SBI also introduced the ‘Nari Shakti’ platinum debit card.

Notes:
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.

Notes:
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.

Notes:
The Union Cabinet approved an incentive scheme to promote low-value BHIM-UPI (Person-to-Merchant – P2M) transactions for FY 2024-25. The scheme aims to strengthen BHIM-UPI, boost transaction volumes to ₹20,000 crore, and promote UPI 123PAY & offline UPI Lite/LiteX. It encourages UPI adoption in rural and remote areas. The Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI). It enables users to link multiple bank accounts in a single mobile app for instant money transfers. BHIM-UPI, launched in 2016, is a government-backed app for seamless, fast, and secure digital payments.

Notes:
National Payments Corporation of India (NPCI) launched BHIM (BHarat Interface for Money) 3.0 with new features. It supports 15+ Indian languages. The app allows users to track, manage, and split expenses. It optimized for low internet areas, ensuring uninterrupted transactions. It includes a built-in task assistant for bill reminders, UPI Lite activation, and low balance alerts.

Notes:
NITI Aayog CEO BVR Subrahmanyam launched DX-EDGE (Empowering Excellence and Growth through Digital Transformation) to support Medium Small and Micro Enterprises (MSMEs). DX-EDGE aims to connect MSMEs, technology providers, and academic institutions for digital transformation. It will create a large pool of technical expertise, offering structured, cost-effective technology access to MSMEs. The initiative will help six crore MSMEs improve efficiency, revenue, and global competitiveness through Artificial Intelligence and advanced technology. The government has allocated significant funds in the 2025 Budget to support MSMEs and encourage digitalization.

Notes:
The National Technical Textiles Mission (NTTM) completes five years since its launch in 2020 by the Ministry of Textiles. It aims to boost research, market growth, exports, and skill development in technical textiles. The mission promotes innovation, startups, and applications in agriculture, infrastructure, and healthcare. With a budget of ₹1,480 crore till 2025-26, it seeks to make India a global leader in technical textiles. It supports 168 research projects worth ₹509 crore. NTTM also aims to train 50,000 individuals in the field of technical textiles.