Business, Economy & Banking Current Affairs MCQs

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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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LIC launched the ‘One Man Office’ (OMO) initiative on February 17, 2025. It is a digital initiative to enhance LIC agents’ efficiency with 24×7 digital services. The initiative aligns with LIC’s vision of ‘Insurance for All by 2047.’ It provides online tools for policy sales, customer service, and business management. LIC aims to make its agents independent and productive through digital transformation. The initiative eliminates the need for a traditional office setup. It benefits both policyholders and LIC by integrating technology into insurance services.

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The Insurance Regulatory and Development Authority of India (IRDAI) has set up a high-powered Dinesh Khara Committee, led by former SBI chairman Dinesh Khara, to review and update the Insurance Act, 1938. The committee will assess the feasibility of 100% FDI in the insurance sector and propose the introduction of composite insurance companies offering life, non-life, and health insurance under one entity. It also aims to enhance policyholder protections and ensure revenue retention within India. The committee’s recommendations will be submitted to the Union Finance Ministry for legislative amendments to align the sector with modern needs.

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India’s Purchasing Managers’ Index (PMI) rose for the first time after three quarters. PMI measures business activity in manufacturing and services sectors through surveys. It helps assess whether market conditions are expanding, contracting, or stable. There are two types: Manufacturing PMI and Services PMI. Manufacturing PMI is based on new orders, output, employment, supplier delivery times, and stock purchases. A PMI above 50 indicates expansion, while below 50 shows contraction. PMI is released monthly by S&P Global, a global financial analytics firm.

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The Reserve Bank of India (RBI) launched the 10th Financial Literacy Week (FLW) 2025 with the theme “Financial Literacy: Women’s Prosperity.” The event will be observed from February 24 to 28, 2025. RBI Governor Sanjay Malhotra inaugurated the event, emphasizing women’s role in inclusive and sustained economic growth. RBI planned multimedia campaigns to promote financial literacy for women. Banks were encouraged to conduct awareness activities. The initiative aligns with RBI’s goal of financial inclusion and gender equality in economic participation.

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Amazon launched a quantum computing chip named Ocelot. It is a prototype with limited computing power. It consists of two integrated silicon microchips. Its high-quality oscillators are made from superconducting Tantalum. It uses cat qubits, inspired by Schrödinger’s cat experiment. Ocelot can reduce quantum error correction costs by up to 90% compared to current methods.

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Yes Bank was the only Indian bank to be included in the 2025 S&P Global Sustainability Yearbook, which recognizes the top 15% of global banking leaders. Yes Bank was also the highest-rated bank in India for sustainability for the third year in a row. Yes Bank scored 72 out of 100 on the S&P Global Corporate Sustainability Assessment (CSA).

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Union Minister Pralhad Joshi launched India’s first AI-powered solar manufacturing line at Goldi Solar’s new facility in Kosamba, Surat, Gujarat. The AI-powered facility enhances precision, scalability, and efficiency, supporting India’s net-zero transition. The plant has a planned production capacity of 14 GW and integrates industry-first AI innovations. High-speed stringers use AI automation to produce 10,000 solar cells per hour with minimal errors and waste. AI-powered Automated Optical Inspection (AOI) ensures real-time defect detection.

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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.