Business, Economy & Banking Current Affairs MCQs

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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.

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India’s first integrated API, Green Hydrogen, and 2G Ethanol manufacturing facility will be set up in Baddi-Barotiwala-Nalagarh, Solan, Himachal Pradesh. The Himachal Pradesh government signed a memorandum with M/s Spray Engineering Devices Limited on 5th March 2025 in Shimla. The project, worth ₹1400 crore, will create 1000 direct jobs. It supports the state’s goal to become India’s first green energy state by March 2026. A 30 MW green hydrogen plant will power the API facility, later expanding to 50 MW. Green hydrogen is produced via electrolysis using renewable energy sources like water, sun, and wind.

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State Bank of India (SBI) launched ‘Asmita’, a collateral-free, low-interest loan program for women entrepreneurs. The scheme aims to boost business borrowings for women-led MSMEs. It offers quick financial support through a digital process. SBI also introduced the ‘Nari Shakti’ platinum debit card.

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India’s first Exploration Licence (EL) auction and AI-powered exploration hackathon were launched in Goa to boost mineral discovery. Union Minister G. Kishan Reddy and Goa CM Pramod Sawant presided over the event, which also included a roadshow for the fifth tranche of critical mineral block auctions. The AI Hackathon 2025 focused on using AI for mineral targeting and sustainable mining innovation. 13 exploration license blocks were auctioned for minerals like Rare Earth Elements, zinc, diamonds, copper, and Platinum Group Elements. The initiative aims to accelerate mineral exploration, attract private investments, and strengthen India’s mineral self-reliance.

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The Asian Development Bank (ADB) launched the Frontier Seed (Pacific) program to support local businesses and strengthen capital markets in the Pacific region. The program promotes sustainable economic growth with an initial $4 million commitment. It has signed $200,000 technical assistance agreements with SeaPAC Pte Ltd (prawn production) and Kahuto Pacific (aerial mapping). The initiative is backed by international partners like the Ocean Resilience and Coastal Adaptation (ORCA) Trust Fund, Nordic Development Fund, and UK FCDO. It aims to attract investors, create jobs, and enhance economic resilience in the Pacific region.

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The Union Cabinet approved an incentive scheme to promote low-value BHIM-UPI (Person-to-Merchant – P2M) transactions for FY 2024-25. The scheme aims to strengthen BHIM-UPI, boost transaction volumes to ₹20,000 crore, and promote UPI 123PAY & offline UPI Lite/LiteX. It encourages UPI adoption in rural and remote areas. The Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI). It enables users to link multiple bank accounts in a single mobile app for instant money transfers. BHIM-UPI, launched in 2016, is a government-backed app for seamless, fast, and secure digital payments.

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Life Insurance Corporation of India (LIC) agents are protesting against new insurance rules affecting their work. LIC, the largest public sector life insurance company in India, is headquartered in Mumbai. It plays a key role in India’s financial market and is also the biggest institutional investor. It was established in 1956 through the Life Insurance of India Act. LIC nationalized the insurance sector by merging 245 private insurers. Its motto, “Yogakshemam Vahamyaham,” means “Your welfare is our responsibility.” LIC operates through 8 zonal offices in Delhi, Chennai, Mumbai, Hyderabad, Kanpur, Kolkata, Bhopal, and Patna.

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National Payments Corporation of India (NPCI) launched BHIM (BHarat Interface for Money) 3.0 with new features. It supports 15+ Indian languages. The app allows users to track, manage, and split expenses. It optimized for low internet areas, ensuring uninterrupted transactions. It includes a built-in task assistant for bill reminders, UPI Lite activation, and low balance alerts.

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Tamil Nadu recorded the highest real economic growth rate in India for 2024–25 at 9.69%, the best in the State’s last 10 years. Real growth excludes inflation and is measured at constant prices (base year 2011–12), with Gross State Domestic Product (GSDP) rising from ₹15.71 lakh crore in 2023–24 to ₹17.23 lakh crore in 2024–25. The nominal growth rate, which includes inflation, is 14.02%, also the highest among States. The State’s growth aligns with projections by the Tamil Nadu Economic Survey and Madras School of Economics (MSE), exceeding both estimates. Growth was led by the tertiary (services) sector at 12.7% and secondary (industry) at 9%, while the primary sector (agriculture) was low at 0.15%. Real estate grew by 13.6%, communication services by 13%, and trade-hotel services by 11.7%, all under the tertiary sector. In the secondary sector, manufacturing grew by 8% and construction by 10.6%. The primary sector underperformed with crops at -5.93% and livestock at 3.84%.

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The Ministry of Finance is launching the One State-One Regional Rural Bank (RRB) policy to improve efficiency and cut costs by reducing RRBs from 43 to 28. This is part of the fourth phase of RRB consolidation, with 15 RRBs set to be merged across several states. Andhra Pradesh, with four RRBs, will see major restructuring, while Uttar Pradesh and West Bengal, each with three RRBs, will also undergo consolidation. States like Bihar, Gujarat, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan, each having two RRBs, will see mergers. RRBs were created under the Regional Rural Bank Act, 1976 to support rural credit for farmers, artisans, and workers.