Business, Economy & Banking Current Affairs MCQs

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Karnataka Bank won the Best Fintech & DPI (Digital Public Infrastructure) Adoption award at the Indian Banks’ Association (IBA) Banking Technology Awards. It was adjudged runner-up in Best Tech Talent category. The bank also received Special Mention for Best Technology Bank, Best Digital Financial Inclusion, and Best Digital Sales. The recognition highlights the bank’s focus on digital innovation, technology talent, and customer-centric banking solutions. Karnataka Bank reaffirmed its commitment to expanding digital capabilities to meet evolving customer needs.

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According to SEBI (Securities and Exchange Board of India), India ranks first globally in the number of IPOs and is among the top three countries by value of IPOs. In the first nine months of the current financial year, 311 IPOs raised ₹1.7 trillion, while total equity mobilisation exceeded ₹3.8 trillion. Market capitalisation-to-GDP ratio increased from 69% in FY16 to over 130%, reflecting deeper investor participation. The number of investors grew from 43 million in FY20 to 137 million, with unique mutual fund investors exceeding 59 million.

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The Engineering Export Promotion Council of India (EEPC India) demanded lower income tax for non-corporate manufacturing Micro, Small and Medium Enterprises (MSMEs) and faster Goods and Services Tax (GST) refunds in the Union Budget. EEPC India is the premier trade and investment promotion body for India’s engineering sector. It is sponsored by the Ministry of Commerce and Industry and advises the Government of India. It acts as an interface between the engineering industry and the government.

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The Pension Fund Regulatory and Development Authority (PFRDA) has constituted the Strategic Asset Allocation and Risk Governance (SAARG) Committee to modernise the investment framework of the National Pension System (NPS). It is a high-level committee of investment experts tasked with reviewing and recommending reforms for both government and non-government NPS sectors. The objective is to strengthen the long-term investment architecture of NPS through better diversification, improved risk management, and expanded investment choices for subscribers.

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The Pension Fund Regulatory and Development Authority (PFRDA) launched the NPS Swasthya Pension Scheme (NSPS) as a pilot project. It is introduced as a Proof of Concept under the Regulatory Sandbox Framework of PFRDA. The scheme links health-related financial support with the existing National Pension System (NPS). It aims to support out-patient and in-patient medical expenses along with pension savings. It will operate as a sector-specific contributory pension scheme under the Multiple Scheme Framework of NPS. The scheme is voluntary and open to Indian citizens for a limited period.

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India has taken over as Chair of the Kimberley Process (KP) for the year 2026. The Kimberley Process is a global partnership of governments, civil society, and the diamond industry to stop the trade in conflict diamonds. The Kimberley Process has 60 participants representing 86 countries and covers over 99% of global rough diamond trade. The Kimberley Process Certification Scheme (KPCS) ensures each rough diamond shipment carries a conflict-free certificate in tamper-proof containers.

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Union Minister Piyush Goyal launched seven new interventions under the Export Promotion Mission to support Micro, Small and Medium Enterprises for global markets. The Export Promotion Mission (EPM) is a flagship initiative of the Department of Commerce, Ministry of Commerce and Industry, announced in the Union Budget 2025–26. The Mission aims at inclusive export growth, social justice and empowerment of small exporters. It leverages nine Free Trade Agreements covering about 70 percent of global Gross Domestic Product and two-thirds of global trade. It follows two pillars: Niryat Protsahan for financial support and Niryat Disha for trade ecosystem support.

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The Central Bank of the United Arab Emirates has launched the world’s first Sovereign Financial Cloud Services Infrastructure (SFCSI). It is developed with Core42, a subsidiary of G42. The platform ensures data sovereignty, meaning financial data remains within the UAE’s legal and security boundaries. It offers integrated cybersecurity, unified multi-cloud management, and Artificial Intelligence (AI)-based analytics. It allows real-time processing, automation, and predictive risk analysis for licensed financial institutions. It reduces dependence on foreign cloud providers and strengthens regulatory control.

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L&T Finance Ltd has launched a specialised programme called “Spoorthi” for women entrepreneurs to provide targeted financial support. The programme offers extended loan tenors up to 25 years for house property loans or Loan Against Property (LAP) for business expansion and working capital. Industrial LAP tenors of up to 12 years are also available, with enhanced eligibility norms, including higher debt-to-income ratios for greater financial flexibility. L&T Finance aims to leverage women borrowers’ strong repayment discipline to scale businesses and secure personal assets, promoting an inclusive financial ecosystem.

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National Bank for Agriculture and Rural Development (NABARD), with Gates Foundation and Dalberg Advisors, launched the National Climate Stack Innovation Challenge to strengthen India’s rural climate resilience. The initiative aims to build a National Climate Stack, integrating fragmented climate datasets into a unified digital platform. It will develop 10–15 year climate hazard forecasting frameworks for risks like heatwaves, floods, droughts, and cyclones affecting agriculture. The project will also create practical dashboards for agriculture, rural finance, and public planning decisions.