Business, Economy & Banking Current Affairs MCQs

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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.

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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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RBI’s ‘State of the Economy’ report projects 6.7% growth in 2025-26, driven by strong domestic demand despite global trade tensions. Agriculture, rising consumption, steady investments, infrastructure development, and government spending are key growth factors. Sound fiscal policies, a balanced monetary framework, and digital transformation strengthen long-term growth. Headline Consumer Price Index inflation dropped to 3.6% in February 2025 due to lower food prices. Resilient services exports support India’s external sector despite global challenges. Food inflation risks persist due to commodity price fluctuations and weather anomalies. RBI regulates India’s banking system and currency management.

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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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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.

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In the Startup Ecosystem Report 2025, Uttar Pradesh ranks third in India, with Maharashtra and Karnataka holding the first and second positions, respectively. The state has witnessed over 14,000 startups, showing remarkable growth. 26 startups from Uttar Pradesh have achieved unicorn status. Uttar Pradesh is the first state where startups are active in 49 districts. Earlier, startups were concentrated in Noida, Ghaziabad, Lucknow, and Kanpur. Now, they are expanding rapidly in smaller cities, strengthening the state’s startup culture.

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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 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.

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Ministry of Statistics and Programme Implementation (MOSPI) launched a new Microdata Portal during the State Government Ministers’ Conference to improve data access and user experience. The portal, built with help from the World Bank Technology Team, uses a modern and secure technology stack. It stores national survey and economic census data and removes old technical issues. National Statistical System Training Academy (NSSTA) website was also launched to help with training information. MOSPI also showed a Proof of Concept (PoC) for an Artificial Intelligence/Machine Learning (AI/ML) based tool to simplify National Industrial Classification (NIC) code search using natural language queries. These steps highlight MOSPI’s efforts to use technology for better data, planning, and achieving the vision of Viksit Bharat (Developed India).

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India became the third-largest producer of electricity from wind and solar energy in 2024, overtaking Germany, as per Ember’s Global Electricity Review. Wind and solar generated 10% of India’s electricity in 2024, and 15% globally. Clean energy sources like renewables and nuclear power made up 40.9% of global electricity – the highest since the 1940s. India added 24 gigawatts (GW) of solar in 2024, becoming the third-largest market after China and the US. Solar power contributed 7% of India’s electricity, doubling since 2021. India aims for 50% of installed power capacity from non-fossil sources by 2030 under its Nationally Determined Contributions (NDCs) to the United Nations Framework Convention on Climate Change (UNFCCC). India also targets 500 GW of non-fossil fuel capacity by 2030, but needs 20% more annual funding to meet it, according to Ember.