Business, Economy & Banking Current Affairs MCQs

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The Ministry of Micro, Small, and Medium Enterprises (MSME) has launched the MSME Trade Enablement and Marketing (TEAM) initiative to help small businesses adopt digital commerce. It has a budget of ₹277.35 crore for three years and aims to onboard 5 lakh MSMEs onto Open Network for Digital Commerce (ONDC). The initiative focuses on inclusivity, targeting 50% women-led enterprises. MSMEs will get digital storefronts, payment solutions, and logistics support via ONDC. More than 150 workshops will educate MSMEs, especially women-led and SC/ST-led businesses. A dedicated portal will offer training, financial aid, and grievance support. The initiative aligns with India’s digital transformation goals and complements schemes like PM Vishwakarma and Digital MSME.

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Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund 2.0 aims to revive stalled real estate projects by providing financial support. The Union Budget 2025-26 has allocated ₹15,000 crore to complete one lakh housing units. Real estate developers and National Real Estate Development Council (NAREDCO) had long requested the fund’s second tranche. SWAMIH Fund I, launched earlier, was created to complete stressed and stalled housing projects. It is sponsored by the Ministry of Finance. It is a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI.

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The Union Finance Minister announced a five-year mission to boost cotton farming productivity and promote Extra-Long Staple (ELS) cotton. ELS cotton, known as the gold standard in textiles, comes from the Gossypium barbadense species, also called Egyptian or Pima cotton. It has fibre lengths of 30 mm and above, making it stronger and finer. Originating in South America, it is mainly grown in China, Egypt, Australia, and Peru. In India, it is grown in parts of Maharashtra and Tamil Nadu.

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LIC launched the ‘One Man Office’ (OMO) initiative on February 17, 2025. It is a digital initiative to enhance LIC agents’ efficiency with 24×7 digital services. The initiative aligns with LIC’s vision of ‘Insurance for All by 2047.’ It provides online tools for policy sales, customer service, and business management. LIC aims to make its agents independent and productive through digital transformation. The initiative eliminates the need for a traditional office setup. It benefits both policyholders and LIC by integrating technology into insurance services.

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India’s Purchasing Managers’ Index (PMI) rose for the first time after three quarters. PMI measures business activity in manufacturing and services sectors through surveys. It helps assess whether market conditions are expanding, contracting, or stable. There are two types: Manufacturing PMI and Services PMI. Manufacturing PMI is based on new orders, output, employment, supplier delivery times, and stock purchases. A PMI above 50 indicates expansion, while below 50 shows contraction. PMI is released monthly by S&P Global, a global financial analytics firm.

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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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The Union Minister of Ports, Shipping & Waterways launched the One Nation-One Port Process (ONOP). ONOP aims to standardize port operations across India’s major ports. The initiative removes inconsistencies in documentation, reduces inefficiencies, lowers costs, and minimizes delays. The Ministry reduced container operation documents by 33%, from 143 to 96. Bulk cargo documents were cut by 29%, from 150 to 106.

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Securities and Exchange Board of India (SEBI) launched a centralized database portal for corporate bonds called Bond Central. It serves as a single, authentic source of information on corporate bonds in India. It is developed by the Online Bond Platform Providers Association (OBPP Association) with collaboration from Market Infrastructure Institutions (MIIs) like stock exchanges and depositories. The portal is free to access and acts as an information repository for the public. It aims to enhance transparency and help investors make informed decisions.

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Microsoft has launched a new AI assistant called Dragon Copilot for healthcare. It is part of Microsoft Cloud for Healthcare and helps doctors with clinical documentation. It transcribes clinical notes, drafts paperwork, and searches medical sources. It integrates with Dragon Medical One (DMO) and DAX for speech recognition. It allows voice-to-text transcription, AI-generated notes, and medical searches. It automates tasks like referral letters, visit summaries, and clinical evidence documentation.

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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.