Business, Economy & Banking Current Affairs MCQs

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Former RBI Governor Shaktikanta Das has been appointed Principal Secretary-2 to Prime Minister Narendra Modi. His selection was approved by the Appointments Committee of the Cabinet. He is a 1980-batch IAS officer from the Tamil Nadu cadre. His tenure will last until the Prime Minister’s term ends or until further orders.

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Tuhin Kanta Pandey, currently Finance and Revenue Secretary, replaces Madhabi Puri Buch as SEBI Chairman after her term ends on February 28, 2025. The Appointments Committee of the Cabinet, chaired by PM Modi, approved his appointment for three years or until further orders. A 1987-batch IAS officer from Odisha cadre, Pandey served as Department of Investment and Public Asset Management (DIPAM) Secretary from 2019 and became Finance Secretary in September 2024. He played a key role in Air India’s sale and LIC’s public listing.

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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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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.

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Life Insurance Corporation of India (LIC) agents are protesting against new insurance rules affecting their work. LIC, the largest public sector life insurance company in India, is headquartered in Mumbai. It plays a key role in India’s financial market and is also the biggest institutional investor. It was established in 1956 through the Life Insurance of India Act. LIC nationalized the insurance sector by merging 245 private insurers. Its motto, “Yogakshemam Vahamyaham,” means “Your welfare is our responsibility.” LIC operates through 8 zonal offices in Delhi, Chennai, Mumbai, Hyderabad, Kanpur, Kolkata, Bhopal, and Patna.

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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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The Finance Ministry launched BAANKNET, a revamped e-auction portal, to streamline the auction of banks’ assets. It replaces e-BKray (launched in February 2019) and enhances transparency in disposing of non-performing assets (NPAs). BAANKNET integrates automated KYC, secure payment gateways, and verified property titles. 12 public sector banks and the Insolvency and Bankruptcy Board of India (IBBI) use BAANKNET for property auctions.

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The government proposed abolishing the 6% Equalisation Levy (EL) on online ads from April 1, 2025. The move benefits advertisers on platforms like Google, X, and Meta. Equalisation Levy (EL) was introduced in 2016 for online ads and extended in 2020 to e-commerce services. It imposed a 6% tax on non-residents for online ads and a 2% tax on e-commerce, which was removed in 2024. The decision aims to ease US trade tensions, as the US threatened reciprocal tariffs from April 2.

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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.

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As per the Indian Tea Board, India became the world’s second-largest tea exporter in 2024, surpassing Sri Lanka. It exported a record 255 million kg of tea, a 10% increase from 231.69 million kg in 2023. Kenya remains the top tea exporter globally. India exports tea to over 25 countries, with major markets including the UAE, Iraq, Iran, Russia, the USA, and the UK. Assam, Darjeeling, and Nilgiri teas are among the finest in the world. Black tea dominates exports at 96%. The Tea Board of India is promoting production, branding, and welfare of tea-growing families.