Business, Economy & Banking Current Affairs MCQs

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The Global Cement and Concrete Association (GCCA) India–NCB Carbon Uptake Report was released on the 63rd Foundation Day of the National Council for Cement and Building Materials (NCB). NCB was established in 1962 as India’s apex research and development organisation for the cement and building materials sector. Its main objective is to promote scientific research and innovation related to cement manufacturing and building materials. NCB functions under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.

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Recently, Andhra Pradesh emerged as India’s top investment destination, capturing 25.3% of all proposed investments in the first nine months of FY26. It leads other states like Odisha (13.1%) and Maharashtra (12.8%), showing a shift of industrial momentum to eastern and southern corridors. Andhra Pradesh, Odisha, and Maharashtra together account for 51.2% of India’s total proposed capital investment. Nationwide, investment announcements reached Rs 26.6 lakh crore, up 11.5% year-on-year. Andhra Pradesh’s performance is credited to investor-friendly policies, fast-track approvals, infrastructure development, and sector-focused strategies.

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A United Nations (UN) report projects India’s GDP growth at 6.6% in 2026, while global growth is expected to slow to 2.7% due to geopolitical risks and policy uncertainty. The report notes that strong demand in major markets may partially offset the impact of US tariff hikes on India. The UN lowered India’s growth estimate from 7.4% but it aligns with the International Monetary Fund (IMF) forecast, identifying India as the only major economy expected to grow above 6% in 2025–26. Global growth faces risks of a prolonged slowdown, insufficient for broad-based development, leaving many countries and communities behind.

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The Special Secretary of the Central Board of Indirect Taxes and Customs (CBIC) inaugurated the Indian Customs Electronic Gateway–Land Port Management System (ICEGATE–LPMS) at the Integrated Check Post (ICP), Agartala, Tripura. Indian Customs Electronic Gateway (ICEGATE) was established in 2007 as the national portal of Indian Customs under Central Board of Indirect Taxes and Customs (CBIC). It provides electronic filing (e-filing) services to traders, cargo carriers, and other trading partners. It acts as a centralized platform for electronic interaction between Indian Customs and the trading community.

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The Finance Minister announced SHE-Mart to support women entrepreneurs through a new market platform. SHE stands for Self-help Entrepreneur, and these marts will be community-owned retail outlets. They will be set up within cluster-level federations using innovative and enhanced financing tools. The aim is to give women better market access, branding support, and stable income. It will strengthen grassroots institutions like Self-Help Groups (SHGs). The initiative builds on the success of the Lakhpati Didi programme.

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Kotak Mahindra Bank became the first custodian in India to issue a Foreign Portfolio Investor (FPI) licence using only electronic signatures. It also completed the entire FPI account-opening process digitally, without any physical documents. The bank has already issued two FPI licences fully based on digitally signed papers. This marks a major step towards fully digital onboarding for overseas investors in India. The move follows the Securities and Exchange Board of India (SEBI) operationalising a unified digital workflow in January 2026. The initiative improves ease of doing business, speeds up compliance, and enhances transparency for foreign investors.

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India has taken over as Chair of the Kimberley Process (KP) for the year 2026. The Kimberley Process is a global partnership of governments, civil society, and the diamond industry to stop the trade in conflict diamonds. The Kimberley Process has 60 participants representing 86 countries and covers over 99% of global rough diamond trade. The Kimberley Process Certification Scheme (KPCS) ensures each rough diamond shipment carries a conflict-free certificate in tamper-proof containers.

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Recently, the Union Cabinet chaired by the Prime Minister approved the establishment of the Startup India Fund of Funds 2.0 (Startup India FoF 2.0). The Fund has been launched under the Startup India initiative to promote innovation and entrepreneurship across the country. It aims to accelerate the next phase of India’s startup ecosystem by mobilising long-term domestic capital, strengthening the venture capital framework, and supporting innovation-led enterprises. The scheme adopts a targeted and segmented funding approach to support deep-tech and technology-driven innovative manufacturing sectors that require patient and long-term capital investment.

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Union Minister Piyush Goyal launched seven new interventions under the Export Promotion Mission to support Micro, Small and Medium Enterprises for global markets. The Export Promotion Mission (EPM) is a flagship initiative of the Department of Commerce, Ministry of Commerce and Industry, announced in the Union Budget 2025–26. The Mission aims at inclusive export growth, social justice and empowerment of small exporters. It leverages nine Free Trade Agreements covering about 70 percent of global Gross Domestic Product and two-thirds of global trade. It follows two pillars: Niryat Protsahan for financial support and Niryat Disha for trade ecosystem support.

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The Central Bank of the United Arab Emirates has launched the world’s first Sovereign Financial Cloud Services Infrastructure (SFCSI). It is developed with Core42, a subsidiary of G42. The platform ensures data sovereignty, meaning financial data remains within the UAE’s legal and security boundaries. It offers integrated cybersecurity, unified multi-cloud management, and Artificial Intelligence (AI)-based analytics. It allows real-time processing, automation, and predictive risk analysis for licensed financial institutions. It reduces dependence on foreign cloud providers and strengthens regulatory control.