Business, Economy & Banking Current Affairs MCQs

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Recently, the Ambassador of Japan to India led a high-level business delegation to the Dholera Special Investment Region (SIR). The visit aimed to explore strategic cooperation in semiconductors and smart city development. Dholera SIR, India’s first greenfield smart industrial city, is located in Gujarat. The city focuses on advanced manufacturing, digital governance, and sustainable urban living. It is a key part of India’s vision to boost high-tech investments, particularly in the semiconductor sector

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Recently, CTBC Bank, the largest private bank in Taiwan, applied to set up an IFSC Banking Unit (IBU) in GIFT City, India. This move strengthens GIFT City’s global appeal as a financial hub. The International Financial Services Centres Authority (IFSCA) is the regulator for IFSC operations in India. IFSCA was established under the IFSCA Act, 2019 as a statutory authority. It regulates financial products, services, and institutions within India’s IFSC. IFSCA is headquartered at GIFT City, Gandhinagar, Gujarat. GIFT IFSC is currently India’s only International Financial Services Centre.

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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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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.

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Recently, the Investor Education and Protection Fund Authority (IEPFA) launched the “Saksham Niveshak” campaign. It is a 100-day national drive running from 28th July to 6th November 2025. IEPFA works under the Ministry of Corporate Affairs. The campaign aims to help shareholders reclaim unclaimed dividends held by companies. It guides investors to update their Know Your Customer (KYC) and nomination details. Companies are encouraged to proactively contact shareholders to recover pending dividends.

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As reported by the Federation of Indian Export Organisations (FIEO), Gujarat remained India’s top exporting state in 2024–25 with outbound shipments totaling ₹9.83 lakh crore, representing 26.6% of the nation’s total exports. Gujarat’s exports were ₹4.3 lakh crore higher than Maharashtra at ₹5.57 lakh crore, followed by Tamil Nadu, Karnataka, Uttar Pradesh, Andhra Pradesh, and Telangana. Gujarat’s top exports were Petroleum Products, Gems & Jewellery, Organic Chemicals, Pharmaceuticals, and Engineering Goods. Uttar Pradesh exported ₹1.86 lakh crore (5% of total), with the United States as its top destination, showing diverse market reach.

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Recently, the Government of India revised the advance registration period for importing steel products on the Steel Import Monitoring System (SIMS) 2.0 portal, except for some items. SIMS 2.0, launched by the Union Ministry of Steel, builds on the 2019 SIMS to provide detailed steel import data to the domestic industry. It gives advance import information to the government and stakeholders, enabling better planning. Database integration helps identify risk areas, improve quality control, and support domestic steel industry growth and policymaking.

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Hindustan Zinc Limited (HZL) became the first Indian company to join the International Council on Mining and Metals (ICMM). ICMM is a UK-based collaborative group of leading mining and metals companies. It aims to boost the industry’s contribution to sustainable development and promote strong environmental and social performance. ICMM works with various stakeholders to improve understanding of the benefits, costs, risks, and responsibilities of the mining and metals industry in today’s world.

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The Reserve Bank of India (RBI) will shift the Cheque Truncation System (CTS) from batch processing to continuous clearing with settlement on realisation in two phases. The Cheque Truncation System (CTS) in India was introduced by the Reserve Bank of India (RBI). It is an online image-based cheque clearing system where cheque images and Magnetic Ink Character Recognition (MICR) data are sent electronically, stopping physical cheque movement. Benefits include same-day realisation, shorter clearing cycles, easy data storage, and reduced risks. Currently, cheques clear in up to two working days. After the new RBI measures, clearance will happen within hours of submission.