Business, Economy & Banking Current Affairs MCQs

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The Department of Telecommunications (DoT) has launched the Financial Fraud Risk Indicator (FRI) to help detect mobile numbers linked to fraud. FRI is a risk-based system that classifies mobile numbers as Medium, High, or Very High risk based on fraud-related activity. It gathers data from multiple sources like the National Cybercrime Reporting Portal (NCRP) by the Indian Cybercrime Coordination Centre (I4C), DoT’s Chakshu platform, and alerts from banks, Non-Banking Financial Companies (NBFCs), and Unified Payments Interface (UPI) platforms. When a number is flagged, FRI uses advanced analysis to assess its fraud risk. This data is shared with financial institutions through the Digital Intelligence Platform (DIP). It helps banks and UPI providers take extra steps to protect customers or block risky transactions.

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Recently, Algeria became the 9th member of the New Development Bank (NDB), expanding opportunities for emerging markets. NDB was established in 2015 by Brazil, Russia, India, China, and South Africa under the BRICS group. Its headquarters is in Shanghai, China. It is a multilateral development bank created to fund infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). So far, it has approved investment projects worth 40 billion US dollars, mainly in clean energy and related sectors. Members include Brazil, Russia, India, China, and South Africa, Bangladesh, United Arab Emirates (UAE), Egypt, and now Algeria.

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India attracted a record USD 81.04 billion in Foreign Direct Investment (FDI) in the fiscal year 2024–25, a 14% rise from the previous year. This growth was supported by liberalized policies and strong inflows in services and manufacturing. The services sector received the highest FDI equity at 19%, followed by computer software and hardware at 16%, and trading at 8%. FDI in services rose by 40.77% to USD 9.35 billion from USD 6.64 billion. Maharashtra received the highest share of FDI at 39%, followed by Karnataka at 13% and Delhi at 12%. From 2014 to 2025, India attracted USD 748.78 billion in FDI, 143% more than the USD 308.38 billion received from 2003 to 2014.

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Recently, India’s first Artificial Intelligence-focused Special Economic Zone (AI SEZ) was announced in Nava Raipur, Chhattisgarh. It will be developed by RackBank Datacenters Private Limited with an investment of ₹1,000 crore. The AI SEZ will span six acres and include a 1.5 lakh square foot facility with high-end servers for large-scale AI operations. It will house four high-density data centres with a total capacity of 80 megawatts to support national digital infrastructure. For the first time, India will not just consume but also host and deliver Artificial Intelligence services globally. It will offer jobs to youth from remote areas like Kanker, Sukma, Bilaspur, and Dantewada in roles such as IT engineers and cybersecurity officers.

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Recently, the Minister of State for Commerce and Industry inaugurated the new unified headquarters of the Quality Council of India (QCI) at the World Trade Centre in New Delhi. The Quality Council of India (QCI) is a non-profit autonomous organisation registered under the Societies Registration Act XXI of 1860. It was set up in 1997 by the Government of India along with Indian industry associations like the Associated Chambers of Commerce and Industry of India (ASSOCHAM), Confederation of Indian Industry (CII), and Federation of Indian Chambers of Commerce and Industry (FICCI). Mr. Ratan Tata was the first Chairman of QCI. QCI functions under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. It serves as the national accreditation body of India.

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Flipkart has become the first major Indian e-commerce company to receive a Non-Banking Financial Company (NBFC) licence from the Reserve Bank of India (RBI). This marks the first time RBI has allowed a large e-commerce platform to operate its own NBFC. Unlike traditional NBFCs, Flipkart can lend money directly but cannot accept public deposits. Earlier, most e-commerce platforms offered loans through partnerships with banks or NBFCs. With this licence, Flipkart can now lend independently, which offers better control and higher profits. This development highlights RBI’s evolving regulatory stance on digital commerce and fintech integration.

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The Reserve Bank of India (RBI) released its latest Urban Consumer Confidence Survey (UCCS) in May 2025. The UCCS showed that urban consumers had stable views about the current economic situation but were hopeful about the future. The UCCS is a bi-monthly survey by RBI to study urban household opinions on economy, employment, income, inflation, and spending. In May 2025, the survey covered 6,090 people from 19 cities. For the first time, RBI renamed it as UCCS, to separate it from the new Rural Consumer Confidence Survey.

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The Union Finance Minister recently chaired the 6th meeting of the Governing Council of the National Investment and Infrastructure Fund (NIIF) in New Delhi to review fund performance, strategic partnerships, and new fund launches. The National Investment and Infrastructure Fund (NIIF) is a government-anchored investment platform that mobilizes long-term capital for infrastructure and key sectors in India. NIIF was announced in the Union Budget 2015–16 and established in 2015. Its headquarters is in Mumbai, Maharashtra.

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The Securities and Exchange Board of India (SEBI) resolved 4,493 investor complaints in May 2025 through its online platform SCORES. The SCORES (Sebi Complaints Redress System) portal is an online platform launched by SEBI (Securities and Exchange Board of India) to address investor grievances related to the securities market. Under the updated SCORES 2.0, complaints are sent directly to listed companies or SEBI-registered intermediaries who must respond with an Action Taken Report (ATR) within 21 days.

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India has the fourth highest potential globally to generate solar power from abandoned coal mines, according to the Global Energy Monitor (GEM). Telangana, Odisha, Madhya Pradesh, and Chhattisgarh are among the top 20 global regions with the highest land availability from closed mines and could together generate over 22 GW. Abandoned coal mines pose risks like methane leakage, which has 28 times more warming potential than carbon dioxide, and can lead to environmental damage and fatal accidents.