Business, Economy & Banking Current Affairs MCQs

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India became the third-largest producer of electricity from wind and solar energy in 2024, overtaking Germany, as per Ember’s Global Electricity Review. Wind and solar generated 10% of India’s electricity in 2024, and 15% globally. Clean energy sources like renewables and nuclear power made up 40.9% of global electricity – the highest since the 1940s. India added 24 gigawatts (GW) of solar in 2024, becoming the third-largest market after China and the US. Solar power contributed 7% of India’s electricity, doubling since 2021. India aims for 50% of installed power capacity from non-fossil sources by 2030 under its Nationally Determined Contributions (NDCs) to the United Nations Framework Convention on Climate Change (UNFCCC). India also targets 500 GW of non-fossil fuel capacity by 2030, but needs 20% more annual funding to meet it, according to Ember.

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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 Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs and India Post Payments Bank (IPPB) under the Department of Posts signed a Memorandum of Agreement (MoA) to launch Phase 2 of the “Niveshak Didi” initiative. “Niveshak Didi” trains women postal workers and community leaders as financial educators to improve financial literacy in rural and underserved areas. In Phase 1, over 55,000 people benefited from IPPB Financial Literacy Camps, with around 60% being women, mostly young and economically active from deep rural areas. Phase 2 will include 4,000 new camps led by 40,000 trained women promoting responsible investing, savings, digital banking, and fraud awareness.

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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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Industrial output grew by only 2.9% in February 2025, the slowest in six months and below the market expectation of 4%. The Index of Industrial Production (IIP) measures short-term changes in industrial production and is published by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI). The current base year is 2011–12 to reflect the modern industrial structure.

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Chhattisgarh has laid the foundation stone for India’s first Gallium Nitride (GaN)-based semiconductor plant in Raipur, marking a major step in electronics manufacturing. Gallium Nitride (GaN) is a wide bandgap semiconductor material made from gallium and nitrogen, known for better performance than traditional materials like silicon. A semiconductor is a material that partly conducts electricity, used to control signals in all electronic devices. GaN provides high efficiency, thermal stability, and fast switching speeds, lowering system and operation costs. It powers next-generation 5G and 6G networks, advanced laptops, defence tech, data analytics, and power electronics.

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The Central Electricity Authority (CEA) launched the STELLAR Model, a new software tool for planning power generation, transmission, and storage with demand response. STELLAR stands for State-of-the-art, Totally indigenously developed Resource adequacy model. It helps Indian states and power distribution companies (discoms) create resource adequacy plans as per Ministry of Power’s June 2023 guidelines. The model ensures reliable electricity supply through smart planning of power resources. It supports integrated planning with demand response and meets changing yearly requirements. The tool is transparent, user-friendly, and made in India under CEA’s guidance. It is available free of cost to all states and discoms. It was developed with support from The Lantau Group (TLG) and Asian Development Bank (ADB).

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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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Maharashtra has topped the CareEdge State Ranking Report 2025, released by CARE Ratings Ltd (CareEdge Ratings). This is the second edition of the CareEdge State Rankings. The rankings evaluate state performance across seven key pillars: economic performance, fiscal management, infrastructure development, financial sector growth, social development, governance quality, and environmental sustainability. The evaluation uses 50 measurable indicators. The primary aim is to provide a data-driven assessment of state performance. The rankings help identify strengths, gaps, and opportunities for policy improvement. This report offers valuable insights for improving state governance and development strategies.

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Reliance NU Suntech recently signed a 25-year Power Purchase Agreement with the Solar Energy Corporation of India Limited (SECI) to build Asia’s largest single-location integrated solar and Battery Energy Storage System (BESS) project. SECI is a Central Public Sector Undertaking (CPSU) under the Ministry of New and Renewable Energy (MNRE), dedicated to expanding Renewable Energy (RE) in India. SECI was formed in 2011 as a not-for-profit company and later became a commercial entity in 2015. It was established to support the National Solar Mission and has Miniratna Category-I status. SECI acts as the main agency for implementing solar, wind, and hybrid energy projects across India. It also helps fulfill India’s Nationally Determined Contributions (NDCs) by inviting developers through tenders for RE projects.