Business, Economy & Banking Current Affairs MCQs

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Tata Steel has become the first Indian company to develop hydrogen-compliant pipes for transporting hydrogen. This is a major step in supporting India’s clean energy transition and aligns with the National Hydrogen Mission. These pipes meet all critical requirements for safe hydrogen transportation. This innovation strengthens Tata Steel’s role in sustainable energy and infrastructure development. It supports the global push for clean energy solutions and reinforces India’s commitment to hydrogen as a future energy source.

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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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India’s largest solar cell and module manufacturing unit was inaugurated at Gangaikondan SIPCOT Industrial Growth Centre, Tamil Nadu. The facility is set up by TATA Power’s TP Solar Limited with an investment of ₹3,800 crore. It will produce 30-GW photovoltaic cells and modules annually for solar power generation. Equipped with advanced robotic automation, it features TOPCon and Mono Perc technology for high efficiency. The plant will also manufacture raw materials for solar modules. Vikram Solar is setting up an additional 3-GW solar cell and 6-GW module facility at the same site.

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The Reserve Bank of India (RBI) launched the 10th Financial Literacy Week (FLW) 2025 with the theme “Financial Literacy: Women’s Prosperity.” The event will be observed from February 24 to 28, 2025. RBI Governor Sanjay Malhotra inaugurated the event, emphasizing women’s role in inclusive and sustained economic growth. RBI planned multimedia campaigns to promote financial literacy for women. Banks were encouraged to conduct awareness activities. The initiative aligns with RBI’s goal of financial inclusion and gender equality in economic participation.

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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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The Geological Survey of India (GSI) is celebrating its 175th year of geoscientific legacy. It was established in 1851 by Sir Thomas Oldham to locate coal deposits for the Railways. GSI provides geological expertise for policy-making, commercial, and socio-economic needs. It documents geological processes across India’s land and offshore areas. The organization conducts geological, geophysical, and geochemical surveys with advanced techniques. Its primary functions include updating geoscientific data and assessing mineral resources. GSI operates under the Ministry of Mines as an attached office.

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India has secured a 9,000-sq-km exploration block in Zambia to explore copper and cobalt. Zambia is the 7th largest copper producer in the world. Global copper ore supply is shrinking, intensifying competition. China controls 50% of global copper smelting and refining capacity. Copper demand is rising due to EV batteries, renewable energy, and clean technologies. Chile, Peru, China, Congo, and the U.S. are the top copper producers. India, China, and the U.S. are securing copper supply chains, increasing geopolitical competition in the next decade.

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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.