Business, Economy & Banking Current Affairs MCQs

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State Bank of India (SBI) has launched a Centre of Excellence (CoE) for Micro, Small and Medium Enterprises (MSMEs) at the State Bank Academy (SBA), Gurugram. The Centre of Excellence (CoE) aims to strengthen the MSME ecosystem through capacity building, research, and industry collaboration, supporting India’s vision of becoming a developed nation. State Bank Academy (SBA) provides specialised training in Credit, International Banking, Risk & Compliance, and conducts Research & Development (R&D) in banking. Centre of Excellence (CoE) will develop case studies, research, and online knowledge repositories for MSMEs, including remote areas.

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The Union Finance Ministry has introduced a one-time one-way switch facility from the Unified Pension Scheme (UPS) to the National Pension System (NPS). The facility is available to UPS subscribers up to one year before superannuation or three months before voluntary retirement. Employees facing dismissal, removal, or disciplinary action are not eligible for the switch. Once exercised, employees will forfeit UPS benefits, including assured payouts. The move aims to streamline pension benefits and reinforce NPS as a long-term retirement solution.

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Union Minister Nitin Gadkari unveiled a roadmap at the International Value Summit 2025, New Delhi, to make India a global hub for automobiles, green mobility, and infrastructure. India has surpassed Japan to become the third-largest automobile market, aiming for No. 1 position in five years. The top two countries for global automobile manufacturing are China and the United States. India leads in electric vehicles, hydrogen fuel, and alternative fuels, with hydrogen trucks launched and pilots on 10 routes.

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On the decade-long celebrations of “Make in India,” the Industrial Park Rating System (IPRS) 3.0 was launched in New Delhi. Industrial Park Rating System (IPRS) 3.0 is developed by the Department for Promotion of Industry and Internal Trade (DPIIT) with support from the Asian Development Bank (ADB). The initiative aims to strengthen India’s industrial ecosystem and enhance competitiveness of industrial infrastructure. The system assesses and benchmarks facilities, infrastructure, and performance of industrial parks across India. IPRS 3.0 provides stakeholders with reliable data, encourages best practices, and supports world-class infrastructure creation.

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Union Minister of Commerce & Industry, Shri Piyush Goyal, launched Logistics Data Bank (LDB) 2.0 in New Delhi on the decade-long celebrations of Make in India. LDB 2.0 provides critical insights into logistics facilities and infrastructure, enabling real-time tracking and performance assessment. It is developed by National Industrial Corridor Development Corporation (NICDC) Logistics Data Services – NLDSL, it supports exporters, Micro, Small & Medium Enterprises (MSMEs), and government planning. It integrates with Unified Logistics Interface Platform (ULIP) APIs for tracking via container, truck, trailer numbers, and railway Freight Note Receipts (FNRs).

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On the decade-long celebrations of Make in India, Union Minister for Commerce and Industry, Shri Piyush Goyal, launched Logistics Ease Across Different States (LEADS) 2025 in New Delhi. LEADS 2025 benchmarks logistics performance across States and Union Territories (UTs), supporting a globally competitive and future-ready logistics ecosystem. India is emerging as a global manufacturing hub under Make in India, with growth in pharmaceuticals and engineering goods. Efficient logistics reduces costs and strengthens manufacturing competitiveness. LEADS 2025 introduces corridor performance assessment and API-enabled evaluation of road speeds.

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Union Finance Minister Nirmala Sitharaman launched the nationwide ‘Aapki Punji Aapka Adhikar’ campaign from Gandhinagar, Gujarat. The campaign aims to ensure speedy settlement of unclaimed financial assets across banks, insurance companies, pension funds, stock, and mutual fund companies. It focuses on returning deposits to legitimate claimants and bridging the gap between financial institutions and citizens. Currently, ₹1,82,000 crore of unclaimed assets lie with financial institutions nationwide. Certificates were awarded to claimants confirming the retrieval of their unclaimed assets. The initiative promotes financial empowerment and awareness among citizens.

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The Maharashtra government launched the E-Bond system for import and export businesses, replacing traditional stamp paper bonds in October 2025. Revenue Minister Chandrashekhar Bawankule announced the system in Mumbai. The system aims to simplify trade procedures, speed up transactions, and enhance transparency in commercial operations. Maharashtra becomes the 16th state in India to adopt digital bonds. The move represents a major step in modernising trade administration. E-Bonds reduce paperwork and make processes faster, secure, and more efficient. The initiative supports ease of doing business and promotes digital adoption in trade.

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Around 10 Indian marine and saline fish and shrimp varieties are soon to receive the Marine Stewardship Council (MSC) certification. Marine Stewardship Council (MSC) certification is an international non-profit organisation that sets science-based standards for sustainable fishing and seafood traceability. Its certification recognises and rewards sustainable fishing practices to promote a sustainable seafood market. The certification is based on independent third-party assessments focusing on stock health, environmental impact, and effective management. It is voluntary, open to all fisheries regardless of location, size, or fishing gear. Astamudi clam (Paphia malabarica) was India’s first MSC-certified fishery.

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On October 7, 2025, Union Finance Minister Nirmala Sitharaman launched the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City) IFSC. FCSS allows real-time or near real-time settlement of foreign currency transactions within GIFT IFSC, replacing delays of 36–48 hours via traditional correspondent banking. GIFT City is India’s first special economic zone (SEZ) for global finance, insurance, fintech, and capital markets, spread over 886 acres between Ahmedabad and Gandhinagar. FCSS reduces settlement time, improves liquidity management, lowers settlement risk, and enhances operational efficiency.