Business, Economy & Banking Current Affairs MCQs

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Tata Motors launched India’s first hydrogen-powered heavy-duty truck trials to support the net-zero emissions goal by 2070. 16 hydrogen-powered trucks will be tested for up to 24 months on key freight routes across Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar. The trucks use Hydrogen Internal Combustion Engine (H2-ICE) and Fuel Cell (H2-FCEV) technologies. Funded by the Ministry of New and Renewable Energy under the National Green Hydrogen Mission. Aims to assess commercial viability and develop infrastructure for hydrogen-powered freight transport.

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Union Minister Pralhad Joshi launched India’s first AI-powered solar manufacturing line at Goldi Solar’s new facility in Kosamba, Surat, Gujarat. The AI-powered facility enhances precision, scalability, and efficiency, supporting India’s net-zero transition. The plant has a planned production capacity of 14 GW and integrates industry-first AI innovations. High-speed stringers use AI automation to produce 10,000 solar cells per hour with minimal errors and waste. AI-powered Automated Optical Inspection (AOI) ensures real-time defect detection.

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India’s first integrated API, Green Hydrogen, and 2G Ethanol manufacturing facility will be set up in Baddi-Barotiwala-Nalagarh, Solan, Himachal Pradesh. The Himachal Pradesh government signed a memorandum with M/s Spray Engineering Devices Limited on 5th March 2025 in Shimla. The project, worth ₹1400 crore, will create 1000 direct jobs. It supports the state’s goal to become India’s first green energy state by March 2026. A 30 MW green hydrogen plant will power the API facility, later expanding to 50 MW. Green hydrogen is produced via electrolysis using renewable energy sources like water, sun, and wind.

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Lohum Company launched India’s first lithium-grade refinery in Greater Noida, Uttar Pradesh. The refinery will produce 1,000 metric tonnes of battery-grade lithium annually, with plans to expand to 20,000 tonnes by 2029. Black mass from e-waste will be recycled to extract lithium. The company refines 90% of India’s lithium and is expanding its Cathode Active Material (CAM) production. The refinery’s technical efficiency competes with China and is more economical than US/European facilities. This expansion reduces India’s dependence on China for lithium supply, especially with growing EV demand.

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In March 2025, scientists in France discovered a massive, naturally occurring white hydrogen deposit in the Moselle region, estimated to be worth $92 trillion and containing 46 million tons of hydrogen, potentially revolutionizing the clean energy sector. White hydrogen is naturally occurring, formed by geochemical reactions in hard rock, similar to oil and gas. It is small, light, and escapes cap rocks easily, making extraction a challenge. The industry is nascent, with only a few innovators exploring its potential. This discovery could have a significant impact on the global energy transition, potentially helping countries reduce their reliance on fossil fuels and transition to cleaner energy sources.

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The Union Cabinet approved an incentive scheme to promote low-value BHIM-UPI (Person-to-Merchant – P2M) transactions for FY 2024-25. The scheme aims to strengthen BHIM-UPI, boost transaction volumes to ₹20,000 crore, and promote UPI 123PAY & offline UPI Lite/LiteX. It encourages UPI adoption in rural and remote areas. The Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI). It enables users to link multiple bank accounts in a single mobile app for instant money transfers. BHIM-UPI, launched in 2016, is a government-backed app for seamless, fast, and secure digital payments.

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Indian Institute of Corporate Affairs (IICA) launched Samarthya: National Competition on Corporate Rescue Strategies 2025 at Manesar, Haryana. It provides a platform for students to develop turnaround strategies for financially distressed businesses. It focuses on real-world corporate rescue, strategic thinking, and expert engagement. Participants analyze financial statements, develop rescue strategies, and present solutions to a panel of judges. It offers networking opportunities with insolvency professionals, legal experts, and business leaders. It provides industry exposure, expert feedback, and recognition for innovative solutions.

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Indian banks must strengthen credit risk management by adopting International Financial Reporting Standards (IFRS 9) and improving loan supervision, collateral valuation, and borrower group assessments. The International Monetary Fund (IMF) highlighted this in its Financial System Stability Assessment (FSSA) report. The Reserve Bank of India (RBI) released the report’s findings on 24 March. The Financial Sector Assessment Program (FSAP) is a joint initiative of the IMF and World Bank for financial sector analysis. The last FSAP for India was in 2017, with the FSSA report published on December 21, 2017. India’s financial system has become more resilient and diverse since 2017, driven by rapid economic growth. India remains committed to adopting global financial standards while considering domestic needs and economic conditions.

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National Payments Corporation of India (NPCI) launched BHIM (BHarat Interface for Money) 3.0 with new features. It supports 15+ Indian languages. The app allows users to track, manage, and split expenses. It optimized for low internet areas, ensuring uninterrupted transactions. It includes a built-in task assistant for bill reminders, UPI Lite activation, and low balance alerts.

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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.