Business, Economy & Banking Current Affairs MCQs

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The INROAD (Indian Natural Rubber Operations for Assisted Development) project, backed by ₹100 crore, enhances natural rubber quality in Northeast India and parts of West Bengal. It aims to develop skills among rubber growers and establish model infrastructure. Supported by major tyre companies – Apollo, Ceat, JK, and MRF – it showcases agriculture-industry collaboration. The project is overseen by the Rubber Board of India, it involves direct engagement from tyre manufacturers. In four years, 1,25,272 hectares of rubber plantations have been established across 94 districts. The project uses digital platforms to train farmers in effective rubber tapping and processing for quality improvement.

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The Union Minister for Commerce and Industry recently inaugurated the National Turmeric Board in New Delhi. The Board aims to lead turmeric-related matters and enhance coordination with the Spices Board and other government agencies. It will include a Chairperson, a Secretary from the Department of Commerce, members from various ministries, and representatives from top turmeric-growing states. The Board will focus on research, value addition, promoting turmeric’s medicinal properties, improving yield, logistics, and exploring international markets. Quality and safety standards for turmeric production and exports are also key goals. The headquarters is in Nizamabad, Telangana.

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Union Minister of Commerce and Industry launched the Bharat Startup Grand Challenge and PRABHAAV Factbook to boost innovation and mentorship in India. The initiatives highlight India’s thriving entrepreneurial ecosystem and focus on fostering growth in startups. The government aims to position India as a global leader in technology and entrepreneurship. These efforts reflect India’s commitment to empowering entrepreneurs and driving economic growth through a robust startup ecosystem.

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Dr. Jitendra Singh inaugurated India’s first CSIR Mega Innovation Complex in Mumbai on January 17 through virtual mode. The facility supports startups, MSMEs, industries, CSIR labs, and public research institutions. It provides high-end scientific infrastructure, regulatory support, and expertise for SOP-driven studies and compliance. Focus areas include healthcare, chemicals, energy, and materials, fostering collaboration and innovation. This milestone strengthens India’s position as a global leader in science, technology, and startups, contributing to the Atmanirbhar Bharat vision.

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India has added 5 new industrial clusters to the Transitioning Industrial Clusters initiative (TICI): Gopalpur Industrial Park, Kakinada Cluster, Kerala Green Hydrogen Valley, Mundra Cluster, and Mumbai Green Hydrogen Cluster. Industrial clusters are hubs where industries, companies, and institutions collaborate for economic growth. A WEF report highlights their role in economies of scale, shared risk, and demand optimization. The Transitioning Industrial Clusters initiative (TICI) is a World Economic Forum initiative launched at the UNFCCC’s COP26 in Glasgow in 2021. It currently includes 33 industrial clusters across 16 countries and five continents.

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Punjab National Bank (PNB) becomes the first Indian bank to integrate Clari5’s National Cybercrime Reporting Portal (NCRP) solution. The solution was developed with the Indian Cyber Crime Coordination Centre (I4C) to automate cybercrime complaint processing. It works across all retail banking channels like Internet and Mobile Banking, ATMs, UPI, and NEFT/RTGS. Features include automated lien marking, intelligent account freezes, and customizable whitelisting to protect customers. Rivi Varghese, CEO of Clari5, praised PNB’s leadership, calling the integration a new benchmark for Indian banking innovation.

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The Directorate General of Foreign Trade (DGFT) launched the enhanced Certificate of Origin (eCoO) 2.0 System to simplify export certification and boost trade efficiency. It features multi-user access, allowing exporters to authorize multiple users under one Importer Exporter Code (IEC). Aadhaar-based e-signing is now supported, along with digital signature tokens for greater flexibility. The system includes an integrated dashboard for easy access to eCoO services, Free Trade Agreement (FTA) info, and trade events. Over 7,000 eCoOs are processed daily, connecting 125 issuing agencies across the country.

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The National Consumer Helpline (NCH), under the Ministry of Consumer Affairs, has adopted an AI-driven system for sector-wise grievance analysis. The number of calls received has grown from 12,553 in Dec 2015 to 1,55,138 in Dec 2024. Monthly complaints registered have increased from 37,062 in 2017 to 1,12,468 in 2024. Grievance disposal time has reduced from 66.26 days in 2023 to 48 days in 2024. 1,038 companies have become convergence partners to resolve issues faster. Success stories from sectors like e-commerce, broadband, and banking show improved grievance resolution, boosting consumer trust.

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Agricultural and Processed Food Products Export Development Authority (APEDA), in collaboration with AgroStar and Kay Bee Exports, completed India’s first-ever commercial trial shipments of premium Sangola and Bhagwa pomegranates to Australia by sea. APEDA was established in 1985 under the Agricultural and Processed Food Products Export Development Authority Act. It replaced the Processed Food Export Promotion Council (PFEPC) and functions under the Ministry of Commerce and Industry. APEDA promotes and develops the export of scheduled products, requiring exporters to register. It provides financial assistance, information, and guidelines to support scheduled product exports.

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India became the second country after China to launch an Electronic Personnel License (EPL) for pilots. Union Civil Aviation Minister K Rammohan Naidu launched the EPL on 20 February 2025 at Udaan Bhawan, New Delhi. The EPL is part of the Digital India initiative and aims to improve Ease of Doing Business. It replaces the existing smart card with a digital license accessible through the eGCA Mobile App.