Business, Economy & Banking Current Affairs MCQs

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Recently, the Government launched the Revised SHAKTI Policy 2025 for transparent coal allocation. SHAKTI stands for Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India. It ensures transparent coal linkages for all power producers, including Central Generating Companies (GENCOs), State GENCOs, and Independent Power Producers (IPPs). It replaces the SHAKTI Policy, 2017 by simplifying coal linkage into only two windows. The policy promotes competition, efficiency, pit-head thermal capacity, and affordable power. It boosts coal availability, mining, and revenue for coal-bearing states.

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Recently, the Investor Education and Protection Fund Authority (IEPFA) launched the “Saksham Niveshak” campaign. It is a 100-day national drive running from 28th July to 6th November 2025. IEPFA works under the Ministry of Corporate Affairs. The campaign aims to help shareholders reclaim unclaimed dividends held by companies. It guides investors to update their Know Your Customer (KYC) and nomination details. Companies are encouraged to proactively contact shareholders to recover pending dividends.

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Recently, the Skill Impact Bond (SIB) was highlighted by the Ministry of Skill Development and Entrepreneurship for delivering measurable social impact. It aims to train 50,000 youth, with at least 30,150 retained in jobs for a minimum of 3 months. More than 23,700 youth have been trained so far across 30 job roles in 13 sectors. Skill Impact Bond (SIB) is India’s first development impact bond focused on employment outcomes. It was launched in November 2021 by National Skill Development Corporation (NSDC) to improve skilling and job placement for youth. It is backed by Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation (NSDC).

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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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India has become the world’s third-largest solar power producer, surpassing Japan, as per International Renewable Energy Agency (IRENA). India generated 1,08,494 GWh of solar energy, while Japan produced 96,459 GWh. China is the world’s largest solar power producer, generating the highest amount of solar electricity annually. United States holds the second position with large-scale solar farms and widespread adoption of rooftop systems. As of July 2025, India’s total solar capacity is 119.02 GW, with 90.99 GW from ground-mounted plants, 19.88 GW from rooftop systems, 3.06 GW from hybrid projects, and 5.09 GW from off-grid installations.

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The Ministry of Finance removed the 11% import duty on cotton from 19 August to 30 September 2025. Imports earlier had 11% duty since February 2021, including 5% Basic Customs Duty and 5% Agriculture Infrastructure and Development Cess. India imported 39 lakh bales of cotton in the 2024-2025 season, with 2 lakh bales in transit to benefit from this waiver. Cotton imports rose 107.4% from 579.2 million in FY24 to 1.20 billion in FY25, with suppliers like Australia, United States, Brazil, and Egypt. The waiver will ease high input costs, support yarn and fabric exporters, and stabilise markets until the new crop.

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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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The Union Finance Ministry has introduced a one-time one-way switch facility from the Unified Pension Scheme (UPS) to the National Pension System (NPS). The facility is available to UPS subscribers up to one year before superannuation or three months before voluntary retirement. Employees facing dismissal, removal, or disciplinary action are not eligible for the switch. Once exercised, employees will forfeit UPS benefits, including assured payouts. The move aims to streamline pension benefits and reinforce NPS as a long-term retirement solution.

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Union Minister of Electronics and Information Technology (MeitY) Shri Ashwini Vaishnaw launched India’s first Tempered Glass Manufacturing Facility for Mobile Devices in Noida. The facility is set up by Optiemus Electronics in collaboration with Corning Incorporated, USA, producing tempered glass under the brand “Engineered by Corning”. It will supply products to both domestic and international markets, supporting Make in India and Atmanirbhar Bharat initiatives. India’s electronics manufacturing has grown six times in 11 years to ₹11.5 lakh crore, with exports over ₹3 lakh crore and 2.5 million employed. The initiative aligns with India’s push for self-reliance in electronics, future chip production, and strengthening research and development capabilities.