Business, Economy & Banking Current Affairs MCQs

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The Ministry of Skill Development and Entrepreneurship (MSDE) has joined hands with the World Economic Forum (WEF) to launch the India Skills Accelerator initiative. India Skills Accelerator is a national public-private platform to boost innovation and solutions across different sectors in skill development. It aims to bring change by increasing awareness on future skill needs, promoting collaboration and knowledge sharing, and reforming institutions and policies for a more flexible skilling system. The focus is on inclusive upskilling, investing in lifelong learning, and matching training with high-growth sectors like Artificial Intelligence (AI), robotics, and clean energy.

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The unemployment rate in rural areas has slightly decreased from 4.3 percent to 4.2 percent, showing a small improvement in job availability. As per the Annual Report of the Periodic Labour Force Survey (PLFS) from January to December 2024, the labour force participation rate (LFPR) in urban areas has gone up from 50.3 percent to over 51 percent. The worker population ratio (WPR), which measures the percentage of working people in the population, has also improved. In urban areas, the overall WPR increased from 47 percent to 47.6 percent, indicating better employment engagement.

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Juspay, a Bengaluru-based payments infrastructure company, became India’s first unicorn of 2025 after raising $60 million in a Series D funding round. The round was led by Kedaara Capital, with participation from SoftBank and Accel, pushing Juspay’s valuation over $1 billion. The company plans to improve its technology using Artificial Intelligence (AI) and expand into international markets like Asia-Pacific (APAC), Latin America, Europe, United Kingdom (UK), and North America. Despite losing major clients like Razorpay and PhonePe, Juspay remains focused on AI-driven productivity and global growth to sustain its momentum.

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Bank of Maharashtra, a public sector bank, has become the first bank to install an Automated Teller Machine (ATM) on a train in India. The ATM was installed on the Mumbai-Manmad Panchavati Express. This is the first time an ATM has been introduced on an Indian Railway train. Union Railway Minister Ashwini Vaishnaw shared this update through his social media account. According to Indian Railways, this was a pilot project aimed at improving passenger convenience. The ATM was placed in a modified pantry car cubicle at the rear end of the coach. The cubicle has a shutter door for safety and easy access. If successful, this facility will be expanded to other trains. The initiative is part of the Indian Railway’s Innovative and Non-Revenue Ideas Scheme.

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In 2024–25, the United States (US) remained India’s largest trading partner for the fourth year in a row. Bilateral trade between India and the US reached $131.84 billion. China continued as India’s second-largest trading partner, with trade rising to $127.7 billion. India’s trade deficit with China increased sharply to $99.2 billion, marking a 17% rise from the previous year. China was India’s top trading partner from 2013–14 to 2017–18 and again in 2020–21. Since 2021–22, the US has consistently held the top position in India’s global trade rankings.

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Recently, Mumbai International Cruise Terminal (MICT), India’s largest world-class cruise terminal, was inaugurated. It is developed under the Cruise Bharat Mission 2024 to promote India as a top global cruise destination. Cruise Bharat Mission aims to double cruise passenger traffic by 2029 and cruise ship calls from 254 in 2024 to 500 by 2030. The mission supports India’s vision to become a global hub for cruise tourism. It will be implemented in three phases from 2024 to 2029. MICT is a key step in enhancing infrastructure and boosting the cruise tourism economy in India.

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The Ministry of Electronics and Information Technology (MeitY) partnered with the International Council for Circular Economy (ICCE) to launch the ‘I Am Circular’ Coffee Table Book. The book celebrates India’s innovation in driving the circular economy forward, focusing on sustainability and responsible growth. A circular economy focuses on reusing, recycling, and reducing waste. The event promoted tech-integrated sustainable development and featured 30 groundbreaking Indian innovations. These innovations are transforming the circular economy with smart, scalable, and sustainable practices. The book showcases India’s role in driving forward circular economy initiatives.

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The State Bank of India (SBI), India’s largest public sector bank, has launched the ‘Grahak Mitras’ initiative. It is a customer-friendly step taken to reduce crowding in bank branches and encourage digital banking. Trained staff known as Grahak Mitras will be deployed to help customers with banking services. These personnel come from SBI’s subsidiary called State Bank Operations Support Services (SBOSS). They will assist customers across nearly 4,500 branches across India. This move is aimed at improving customer experience and speeding up basic services in busy bank locations.

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At the recent World Audio Visual Entertainment Summit (WAVES) in Mumbai, the Prime Minister highlighted India’s growing Orange Economy driven by content, creativity and culture. The Orange Economy, also called the creative economy, covers sectors that are based on cultural and creative ideas. As per the United Nations Economic Network, it focuses on using creative assets to boost economic growth and development. It combines economic, cultural and social factors while linking with technology, intellectual property and tourism. It includes industries based on individual talent, skill and innovation that can generate jobs, income and cultural value.

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Tunnel No. 8 (T-8) is set to become India’s longest railway tunnel at 14.57 km, overtaking Tunnel No. 50 (T-50), which is 12.77 km long on the Udhampur-Srinagar-Baramulla Railway Link. It is part of the Rishikesh–Karnaprayag Broad Gauge Rail Link Project in Uttarakhand. T-8 is a twin tunnel located on the Devprayag–Janasu stretch of this 125-km rail line. The Rishikesh–Karnaprayag Broad Gauge Rail Link Project is being implemented by Rail Vikas Nigam Limited (RVNL), a Navratna Public Sector Undertaking under the Ministry of Railways.