Business, Economy & Banking Current Affairs MCQs

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The Mumbai-Ahmedabad High-Speed Rail (MAHSR) Corridor is a project between India and Japan. India and Japan are finalizing bullet train designs for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Corridor to suit Indian conditions. Japanese Shinkansen trains are being modified for higher luggage capacity, functionality in over 50°C temperatures, and resistance to India’s dusty conditions. More than 50% of civil construction is complete across Gujarat, Maharashtra, and Dadra and Nagar Haveli, with rail welding operations underway. Indian Railways is building domestic capabilities for manufacturing high-speed trains while importing from Japan. The Integral Coach Factory (ICF) and BEML are set to produce bullet trains with 280 kmph speeds by 2026, featuring full air-conditioning, reclining seats, accessibility facilities, and entertainment systems.

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The Ministry of Statistics and Programme Implementation (MoSPI) released the Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2023-24. The survey measures economic and operational characteristics of unincorporated non-agricultural establishments in manufacturing, trade, and services (excluding construction). It collects data on workers, Gross Value Added (GVA), emoluments, fixed assets, loans, ownership and registration. The survey aids policymaking and supports National Accounts Statistics and ministries like MSME and Textiles.

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The RBI formed a committee named FREE-AI to establish a framework for responsible and ethical AI use in the financial sector. The committee is led by Pushpak Bhattacharyya, a professor at IIT Bombay. The committee will propose frameworks for AI governance, risk mitigation, and ethical adoption for banks, NBFCs, FinTechs, and PSOs. It will also address broader AI-related matters in the Indian financial sector. The committee will submit its report within six months of its first meeting.

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In 2024, Bangladesh remained the top source of foreign tourist arrivals in India, despite a decline due to political instability, with arrivals dropping from 23.7% to 20.77%. India welcomed 6.19 million foreign tourists in the first eight months of 2024, while countries like Thailand and Malaysia outpaced India significantly in attracting tourists. The US and UK also contributed notably to India’s tourism growth, indicating the potential for further revenue generation in the sector as India seeks to improve its tourism infrastructure and marketing strategies.

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The Export Inspection Council (EIC) has launched a study on food testing infrastructure for exports. It was set up under the Export (Quality Control and Inspection) Act, 1963. It ensures quality control and inspection of Indian exports. EIC is the official certification body for exports, ensuring products meet quality and safety standards for importing countries. It provides mandatory certification for specific food products and voluntary certification for others. EIC operates through Export Inspection Agencies in major cities, with NABL accredited laboratories and 30 sub-offices. It works under the Ministry of Commerce and Industry.

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India has the third-largest operational metro rail network globally, after China and the USA. India’s metro network serves over 1 crore passengers daily, surpassing Japan in metro projects by 2022. Metro development in India began in 1969 with the Metropolitan Transport Project. PM Modi launched metro projects worth over ₹12,200 crore in Delhi on January 5.

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Microsoft CEO Satya Nadella announced a partnership with India’s AI Mission to upskill 500,000 people and promote inclusive growth by 2026. An MoU was signed to drive AI innovation, productivity, and inclusivity across India. An AI Center of Excellence, ‘AI Catalysts,’ will support 100,000 developers and rural AI innovation through hackathons and solutions. ‘AI Productivity Labs’ at 20 institutes will provide foundational AI education to 20,000 educators. Citizen-centric AI solutions will address healthcare, education, accessibility, and agriculture. A five-year partnership with RailTel will boost digital and AI transformation in Indian Railways and public sectors.

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The Ministry of Commerce & Industry launched the 8th edition of the National Programme for Organic Production (NPOP) to promote ease of operations and transparency for stakeholders, including farmers. Agricultural and Processed Food Products Export Development Authority (APEDA) implements NPOP to strengthen India’s organic certification system. The event unveiled key portals, including NPOP, Organic Promotion Portal, TraceNet 2.0, revamped APEDA, and AgriXchange, for improving operations, traceability, and market access.

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Indichip Semiconductors and Japan’s Yitoa Micro Technology will establish India’s first private semiconductor manufacturing facility in Andhra Pradesh. The investment exceeds ₹14,000 crore and focuses on producing silicon carbide (SiC) chips. The facility will start with a capacity of 10,000 wafers/month, scaling up to 50,000 wafers/month in 2–3 years. The project aligns with the Aatmanirbhar Bharat vision, supporting electric vehicles and renewable energy solutions. Andhra Pradesh’s semiconductor policy aims to make the state a global manufacturing hub. The initiative will create thousands of jobs, spur innovation, and boost India’s semiconductor footprint.

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Punjab National Bank (PNB) becomes the first Indian bank to integrate Clari5’s National Cybercrime Reporting Portal (NCRP) solution. The solution was developed with the Indian Cyber Crime Coordination Centre (I4C) to automate cybercrime complaint processing. It works across all retail banking channels like Internet and Mobile Banking, ATMs, UPI, and NEFT/RTGS. Features include automated lien marking, intelligent account freezes, and customizable whitelisting to protect customers. Rivi Varghese, CEO of Clari5, praised PNB’s leadership, calling the integration a new benchmark for Indian banking innovation.