Business, Economy & Banking Current Affairs MCQs

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Recently, India’s coffee exports reached 1.8 billion, marking a 125 percent rise over the last 11 years due to efforts by the Coffee Board of India. In 2014–15, exports were valued at over 800 million, rising to 1.14 billion in 2022–23 and 1.28 billion in 2023–24. Europe is the top buyer of Indian coffee, with major importers including Italy, Germany, Belgium, Middle East countries, Korea, and Japan. The main coffee-producing states are Karnataka, Kerala, and Tamil Nadu. India ranks seventh in global coffee production with a 3.5 percent share and fifth in exports with a 5 percent share.

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The Ministry of Statistics and Programme Implementation (MoSPI) will conduct India’s first-ever Household Income Survey in 2026, as announced recently. A Technical Expert Group (TEG) led by economist Surjit Bhalla has been formed to guide survey methods, estimation techniques, and best global practices. The survey will measure household income and assess how technology adoption affects wages, aiming to fill key data gaps. Past attempts since the 1950s failed due to unreliable data, with income estimates often lower than consumption and savings combined.

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Recently, to tackle climate change risks, India is focusing on environmental disclosure frameworks like Business Responsibility and Sustainability Reporting (BRSR). BRSR is a mandatory reporting requirement for the top 1,000 listed companies in India. It was introduced by the Securities and Exchange Board of India (SEBI). The aim of BRSR is to promote sustainable business practices among companies. It requires companies to share information about their Environmental, Social, and Governance (ESG) performance in a transparent way.

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Recently, India became the world’s fourth largest biofuel consumer, overtaking China for the second year in a row in 2024. The data comes from the Statistical Review of World Energy 2025 by The Energy Institute (EI). India’s biofuel consumption increased by 40% year-on-year (Y-o-Y) to 77 thousand barrels of oil equivalent per day in 2024. Despite higher consumption, India still lags behind China in biofuel production. From 2014 to 2024, India’s biofuel consumption grew at an average annual rate of 31.8%.

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From July 16, 2025, the central government made it mandatory for departments and ministries to process payments above ₹75 crore via the e-Kuber system. The aim is to increase transparency and speed up fund reconciliation. This move will help provide real-time data on government spending and improve tracking of payments to vendors and contractors. E-Kuber is the Core Banking Solution (CBS) of the Reserve Bank of India (RBI), launched in 2012. It enables commercial banks to access their RBI accounts anytime and from anywhere.

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In July 2025, India is exploring the use of Catastrophe Bonds (Cat Bonds) to improve disaster risk financing and climate resilience. Cat Bonds are hybrid financial instruments combining features of insurance and debt. They help governments transfer risks from natural disasters like cyclones, floods, and earthquakes to global investors. If a defined disaster occurs, investors lose part or all of their principal, which is used for relief and reconstruction. If no disaster occurs during the bond term, investors get back their full principal with high interest.

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The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, recently promoted the Trade Connect ePlatform at two major Business-to-Business (B2B) trade exhibitions. Trade Connect ePlatform is a digital initiative of Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry. It aims to transform international trade for Indian exporters, especially Medium, Small and Medium Enterprises (MSMEs). It acts as a one-stop hub for international trade-related services and information. It connects exporters, MSMEs, and entrepreneurs with Indian Missions Abroad, Export Promotion Councils, and other government agencies.

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Ministry of Statistics and Programme Implementation (MoSPI) has urged integration of the 8th Economic Census preliminary work with the 16th Population Census. The Economic Census aims to capture a full count of all entrepreneurial activities in India at a specific point in time. It is conducted by Ministry of Statistics and Programme Implementation (MoSPI) to strengthen data-driven policymaking. The census provides detailed data on ownership patterns, employment numbers, and geographic spread of economic activities.

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Recently, the International Monetary Fund (IMF) recognized India as a global leader in fast payments through the Unified Payments Interface (UPI). In June 2025, UPI processed ₹24.03 lakh crore via 18.39 billion transactions, marking a 32% year-on-year growth from 13.88 billion transactions in June 2024. UPI now accounts for 85% of all digital transactions in India and nearly 50% of global real-time digital payments. It handles over 640 million transactions daily, surpassing Visa’s 639 million transactions per day. This scale was achieved in just 9 years, since UPI’s launch in 2016 by the National Payments Corporation of India (NPCI).

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India has become Malaysia’s largest importer of germinated oil palm seeds in 2025. In 2024, India imported 3.03 million tonnes of palm oil, making up 17.9% of Malaysia’s total exports. India aims to expand palm oil cultivation to 1 million hectares by 2025-26 under the National Mission on Edible Oils-Oil Palm (NMEO-OP). Goal is to produce 2.8 million tonnes of crude palm oil by 2029-30. Currently, India has 3.7 lakh hectares under palm cultivation, focusing on northeast and island regions. Malaysia offers to collaborate if India provides land for local palm oil production.