Business, Economy & Banking Current Affairs MCQs

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Recently, the Reserve Bank of India (RBI) involved major public and private sector banks to develop the Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure (DPI). The Digital Payment Intelligence Platform (DPIP) is an initiative of the Reserve Bank of India (RBI). It aims to improve fraud risk management by allowing real-time sharing and collection of intelligence to stop fraudulent digital transactions. The Reserve Bank Innovation Hub (RBIH) is building a prototype with 5–10 banks. DPIP will use advanced technologies to control payment-related frauds.

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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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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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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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Gujarat recorded 48.59 lakh tonnes of potato production in the 2024–25 season, including varieties for French fries and wafers. Gujarat is now the top producer of processed potatoes in India, followed by Uttar Pradesh and Punjab. Processed potato production in India grew from less than 1 lakh tonnes in 2004–05 to 11.50 lakh tonnes in 2024–25. Banaskantha, Sabarkantha, and Aravalli are Gujarat’s leading potato-growing districts, producing 38 lakh tonnes on 1.19 lakh hectares.

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Recently, the Securities and Exchange Board of India (SEBI) launched the VCF Settlement Scheme 2025. The scheme offers a one-time window to resolve compliance issues related to the winding-up of old funds. It is meant for Venture Capital Funds (VCFs) that shifted to the Alternative Investment Fund (AIF) regime but haven’t liquidated their investments. The scheme will remain open from July 21, 2025, to January 19, 2026. Its main goal is to protect investor interests by settling long-pending fund closure cases.

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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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Recently, the United States (US) President announced a 25% tariff on all imports from India, effective from August 1, 2025. A separate penalty has also been imposed due to India’s continued purchase of Russian oil and military equipment. The US cited India’s high tariffs on American goods, calling them “among the highest in the world.” The US currently has a $40.8 billion trade deficit with India. India’s membership in BRICS, seen by the US as an anti-dollar group, is also a concern. A proposed Bilateral Trade Agreement (BTA) failed to materialize before the August 2025 deadline. The tariff move is viewed as a pressure tactic to speed up trade negotiations with India.

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India ranks second in global fish production, after China. Union Minister of Fisheries and Animal Husbandry stated this at a recent programme in Kolkata. Fish production in India rose by 103% in 2024–25 compared to 2013–14. Inland fisheries contribute nearly 75% of total fish production in India. Fisheries sector forms 1.12% of national Gross Value Added (GVA) and 7.26% of agricultural GVA. Around 30 million people are involved in the fisheries value chain. Union Budget 2025–26 proposed the highest ever financial support for fisheries sector.