Business, Economy & Banking Current Affairs MCQs
41. Which ministry launched the revamped ‘Baanknet’ e-auction portal?
[A] Ministry of Finance
[B] Ministry of Commerce and Industry
[C] Ministry of Corporate Affairs
[D] Ministry of Housing and Urban Affairs
[B] Ministry of Commerce and Industry
[C] Ministry of Corporate Affairs
[D] Ministry of Housing and Urban Affairs
Correct Answer: A [Ministry of Finance]
Notes:
The Finance Ministry launched the revamped ‘Baanknet’ e-auction portal as a one-stop platform for buyers and investors. It consolidates e-auction information from all Public Sector Banks (PSBs) on properties like flats, houses, plots, shops, industrial land, vehicles, and machinery. The portal simplifies property discovery and participation in auctions, enhancing transparency and efficiency. It aids PSBs in recovering distressed assets, improving their balance sheets, and boosting credit availability. More than 1,22,500 properties are listed, and PSB executives received training for effective use.
The Finance Ministry launched the revamped ‘Baanknet’ e-auction portal as a one-stop platform for buyers and investors. It consolidates e-auction information from all Public Sector Banks (PSBs) on properties like flats, houses, plots, shops, industrial land, vehicles, and machinery. The portal simplifies property discovery and participation in auctions, enhancing transparency and efficiency. It aids PSBs in recovering distressed assets, improving their balance sheets, and boosting credit availability. More than 1,22,500 properties are listed, and PSB executives received training for effective use.
42. What is the name of the fixed deposit scheme launched by SBI for senior citizens aged 80 years and above?
[A] SBI Patrons
[B] SBI Elite
[C] SBI Golden Deposit
[D] SBI Wealth Plus
[B] SBI Elite
[C] SBI Golden Deposit
[D] SBI Wealth Plus
Correct Answer: A [SBI Patrons]
Notes:
State Bank of India launched two new deposit schemes, Har Ghar Lakhpati and SBI Patrons, to provide better financial options. SBI Patrons is a fixed deposit scheme specifically for senior citizens aged 80 and above. It offers higher interest rates, acknowledging the loyalty of senior customers. Both new and existing term deposit customers can avail the SBI Patrons scheme. Depositors under this scheme earn an additional 10 basis points higher interest than standard rates for senior citizens.
State Bank of India launched two new deposit schemes, Har Ghar Lakhpati and SBI Patrons, to provide better financial options. SBI Patrons is a fixed deposit scheme specifically for senior citizens aged 80 and above. It offers higher interest rates, acknowledging the loyalty of senior customers. Both new and existing term deposit customers can avail the SBI Patrons scheme. Depositors under this scheme earn an additional 10 basis points higher interest than standard rates for senior citizens.
43. India’s first commercial utility-scale battery energy storage system (BESS) is located at which place?
[A] Kilokri, South Delhi
[B] Amarsar, Jaipur
[C] Prayagraj, Uttar Pradesh
[D] Pokhran, Jaisalmer
[B] Amarsar, Jaipur
[C] Prayagraj, Uttar Pradesh
[D] Pokhran, Jaisalmer
Correct Answer: A [Kilokri, South Delhi]
Notes:
India’s first commercial utility-scale battery energy storage system (BESS) will go live in March 2025. It is located in Kilokri, a village in south Delhi. The BESS is a 20 MW/40 MWh battery cluster that is part of the BSES Rajdhani Power Limited (BRPL) Kilokri substation. The system is expected to provide four hours of power every day, two hours each during the day and at night. The BESS project is a collaboration between BRPL, IndiGrid, and the Global Energy Alliance for People and Planet (GEAPP). The project is a significant milestone in India’s efforts to integrate renewable energy and modernize its power infrastructure.
India’s first commercial utility-scale battery energy storage system (BESS) will go live in March 2025. It is located in Kilokri, a village in south Delhi. The BESS is a 20 MW/40 MWh battery cluster that is part of the BSES Rajdhani Power Limited (BRPL) Kilokri substation. The system is expected to provide four hours of power every day, two hours each during the day and at night. The BESS project is a collaboration between BRPL, IndiGrid, and the Global Energy Alliance for People and Planet (GEAPP). The project is a significant milestone in India’s efforts to integrate renewable energy and modernize its power infrastructure.
44. Recently, who has been appointed as Revenue Secretary in the Ministry of Finance?
[A] Manoj Govil
[B] Tuhin Kanta Pandey
[C] Arunish Chawla
[D] Ankit Jalan
[B] Tuhin Kanta Pandey
[C] Arunish Chawla
[D] Ankit Jalan
Correct Answer: B [Tuhin Kanta Pandey]
Notes:
The government shifted revenue secretary Arunish Chawla to the Department of Investment and Public Asset Management (DIPAM) ahead of the Union Budget. Tuhin Kanta Pandey, the DIPAM Secretary, is now appointed as the new revenue secretary and designated finance secretary. Chawla, a 1992-batch IAS officer from Bihar, was previously Secretary in the Department of Pharmaceuticals. Pandey, a 1987-batch IAS officer from Odisha, is known for his role in the disinvestment of Air India and Neelanchal Ispat Nigam Ltd to Tata Group. Chawla will also handle additional responsibilities as Secretary of the Department of Public Enterprises.
The government shifted revenue secretary Arunish Chawla to the Department of Investment and Public Asset Management (DIPAM) ahead of the Union Budget. Tuhin Kanta Pandey, the DIPAM Secretary, is now appointed as the new revenue secretary and designated finance secretary. Chawla, a 1992-batch IAS officer from Bihar, was previously Secretary in the Department of Pharmaceuticals. Pandey, a 1987-batch IAS officer from Odisha, is known for his role in the disinvestment of Air India and Neelanchal Ispat Nigam Ltd to Tata Group. Chawla will also handle additional responsibilities as Secretary of the Department of Public Enterprises.
45. What is the primary objective of ICEGATE portal that was recently seen in news?
[A] Managing rail transport logistics
[B] Offering electronic services for customs-related activities
[C] Regulating air traffic
[D] None of the Above
[B] Offering electronic services for customs-related activities
[C] Regulating air traffic
[D] None of the Above
Correct Answer: B [Offering electronic services for customs-related activities]
Notes:
The overestimation of gold import figures from April to November was due to a data migration error. The error occurred during the shift from the SEZ Online system to ICEGATE, causing double counting of imports into Special Economic Zones and domestic zones. As a result, the gold import figures for November were revised down by $5 billion, from $14.8 billion to $9.9 billion. ICEGATE (Indian Customs Electronic Gateway) is an online portal that offers electronic services for customs-related activities. It is a part of the Central Board of Indirect Taxes and Customs (CBIC). It facilitates the electronic filing of import and export documents.
The overestimation of gold import figures from April to November was due to a data migration error. The error occurred during the shift from the SEZ Online system to ICEGATE, causing double counting of imports into Special Economic Zones and domestic zones. As a result, the gold import figures for November were revised down by $5 billion, from $14.8 billion to $9.9 billion. ICEGATE (Indian Customs Electronic Gateway) is an online portal that offers electronic services for customs-related activities. It is a part of the Central Board of Indirect Taxes and Customs (CBIC). It facilitates the electronic filing of import and export documents.
46. What is the growth forecast of India by the International Monetary Fund (IMF) for FY26 and FY27?
[A] 6.2%
[B] 6.5%
[C] 7.1%
[D] 7.2%
[B] 6.5%
[C] 7.1%
[D] 7.2%
Correct Answer: B [6.5%]
Notes:
The International Monetary Fund (IMF) retained India’s growth projection at 6.5% for FY26 and FY27, citing it as “in line with potential.” Growth in India slowed due to an unexpected deceleration in industrial activity, with 5.4% growth reported for the September quarter. The World Bank maintained its higher growth projection for India at 6.7% for FY26 and FY27, predicting it to remain the fastest-growing major economy. The World Bank highlighted growth driven by the services sector, strengthened manufacturing, improved logistics, and tax reforms. NSO’s First Advance Estimates project FY25 growth to slow to 6.4%, below RBI’s 6.6% forecast for FY25.
The International Monetary Fund (IMF) retained India’s growth projection at 6.5% for FY26 and FY27, citing it as “in line with potential.” Growth in India slowed due to an unexpected deceleration in industrial activity, with 5.4% growth reported for the September quarter. The World Bank maintained its higher growth projection for India at 6.7% for FY26 and FY27, predicting it to remain the fastest-growing major economy. The World Bank highlighted growth driven by the services sector, strengthened manufacturing, improved logistics, and tax reforms. NSO’s First Advance Estimates project FY25 growth to slow to 6.4%, below RBI’s 6.6% forecast for FY25.
47. National Mineral Development Corporation (NMDC) is under the administrative control of which ministry?
[A] Ministry of Commerce and Industry
[B] Ministry of Mines
[C] Ministry of Finance
[D] Ministry of Steel
[B] Ministry of Mines
[C] Ministry of Finance
[D] Ministry of Steel
Correct Answer: D [Ministry of Steel]
Notes:
National Mineral Development Corporation (NMDC) is set to extract 6,500 carats of diamonds, worth $3.4 million, from a mine near Panna Tiger Reserve in Madhya Pradesh this fiscal year. NMDC, established in 1958, is a state-owned enterprise under the Ministry of Steel. It produces iron ore, copper, limestone, gypsum, diamonds, and more. NMDC is India’s largest iron ore producer, with mines in Chhattisgarh and Karnataka. It operates India’s only mechanized diamond mine at Panna. NMDC’s mining complexes are rated 5 Star by the Indian Bureau of Mines. Its headquarters is in Hyderabad, Telangana.
National Mineral Development Corporation (NMDC) is set to extract 6,500 carats of diamonds, worth $3.4 million, from a mine near Panna Tiger Reserve in Madhya Pradesh this fiscal year. NMDC, established in 1958, is a state-owned enterprise under the Ministry of Steel. It produces iron ore, copper, limestone, gypsum, diamonds, and more. NMDC is India’s largest iron ore producer, with mines in Chhattisgarh and Karnataka. It operates India’s only mechanized diamond mine at Panna. NMDC’s mining complexes are rated 5 Star by the Indian Bureau of Mines. Its headquarters is in Hyderabad, Telangana.
48. Where was the India’s first CSIR Mega Innovation Complex inaugurated recently?
[A] Kolkata
[B] New Delhi
[C] Mumbai
[D] Chennai
[B] New Delhi
[C] Mumbai
[D] Chennai
Correct Answer: C [Mumbai]
Notes:
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.
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.
49. Ethanol Blended Petrol (EBP) Programme was launched by which ministry?
[A] Ministry of Agriculture and Farmers’ Welfare
[B] Ministry of Environment, Forest and Climate Change
[C] Ministry of Petroleum and Natural Gas
[D] Ministry of Commerce and Industry
[B] Ministry of Environment, Forest and Climate Change
[C] Ministry of Petroleum and Natural Gas
[D] Ministry of Commerce and Industry
Correct Answer: C [Ministry of Petroleum and Natural Gas]
Notes:
The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, approved the revision of ethanol procurement prices for Oil Marketing Companies (OMCS) for the Ethanol Supply Year 2024-25 (Nov 1, 2024 – Oct 31, 2025). The Ethanol Blended Petrol (EBP) Programme aims to reduce pollution, conserve foreign exchange, and support the sugar industry in clearing cane price arrears for farmers. The EBP programme, launched in 2003 by the Ministry of Petroleum and Natural Gas, promotes the use of environment-friendly alternative fuels.
The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, approved the revision of ethanol procurement prices for Oil Marketing Companies (OMCS) for the Ethanol Supply Year 2024-25 (Nov 1, 2024 – Oct 31, 2025). The Ethanol Blended Petrol (EBP) Programme aims to reduce pollution, conserve foreign exchange, and support the sugar industry in clearing cane price arrears for farmers. The EBP programme, launched in 2003 by the Ministry of Petroleum and Natural Gas, promotes the use of environment-friendly alternative fuels.
50. Which institution has launched blockchain-based currency named BIMCOIN?
[A] Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
[B] Birla Institute of Management Technology (BIMTECH), Greater Noida
[C] Jaipuria Institute of Management, Lucknow
[D] Indian Institute Of Management–Lucknow (IIM–Lucknow)
[B] Birla Institute of Management Technology (BIMTECH), Greater Noida
[C] Jaipuria Institute of Management, Lucknow
[D] Indian Institute Of Management–Lucknow (IIM–Lucknow)
Correct Answer: B [Birla Institute of Management Technology (BIMTECH), Greater Noida]
Notes:
Birla Institute of Management Technology (BIMTECH), Greater Noida has launched BIMCOIN, a blockchain-powered digital currency for campus transactions. It is the first business school in India to introduce such technology, following IIT Madras. BIMCOIN aims to provide students with real-world fintech experience and promote blockchain learning. It operates on a permissioned blockchain, ensuring secure, transparent, and decentralized transactions. Unlike traditional banking, BIMCOIN minimizes fraud and errors by securely recording transactions on the blockchain. This initiative sets a new trend for integrating digital currency in academic institutions.
Birla Institute of Management Technology (BIMTECH), Greater Noida has launched BIMCOIN, a blockchain-powered digital currency for campus transactions. It is the first business school in India to introduce such technology, following IIT Madras. BIMCOIN aims to provide students with real-world fintech experience and promote blockchain learning. It operates on a permissioned blockchain, ensuring secure, transparent, and decentralized transactions. Unlike traditional banking, BIMCOIN minimizes fraud and errors by securely recording transactions on the blockchain. This initiative sets a new trend for integrating digital currency in academic institutions.