Business, Economy & Banking Current Affairs MCQs

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Karnataka Bank won the Best Fintech & DPI (Digital Public Infrastructure) Adoption award at the Indian Banks’ Association (IBA) Banking Technology Awards. It was adjudged runner-up in Best Tech Talent category. The bank also received Special Mention for Best Technology Bank, Best Digital Financial Inclusion, and Best Digital Sales. The recognition highlights the bank’s focus on digital innovation, technology talent, and customer-centric banking solutions. Karnataka Bank reaffirmed its commitment to expanding digital capabilities to meet evolving customer needs.

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The Engineering Export Promotion Council of India (EEPC India) demanded lower income tax for non-corporate manufacturing Micro, Small and Medium Enterprises (MSMEs) and faster Goods and Services Tax (GST) refunds in the Union Budget. EEPC India is the premier trade and investment promotion body for India’s engineering sector. It is sponsored by the Ministry of Commerce and Industry and advises the Government of India. It acts as an interface between the engineering industry and the government.

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The Pension Fund Regulatory and Development Authority (PFRDA) has constituted the Strategic Asset Allocation and Risk Governance (SAARG) Committee to modernise the investment framework of the National Pension System (NPS). It is a high-level committee of investment experts tasked with reviewing and recommending reforms for both government and non-government NPS sectors. The objective is to strengthen the long-term investment architecture of NPS through better diversification, improved risk management, and expanded investment choices for subscribers.

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India has taken over as Chair of the Kimberley Process (KP) for the year 2026. The Kimberley Process is a global partnership of governments, civil society, and the diamond industry to stop the trade in conflict diamonds. The Kimberley Process has 60 participants representing 86 countries and covers over 99% of global rough diamond trade. The Kimberley Process Certification Scheme (KPCS) ensures each rough diamond shipment carries a conflict-free certificate in tamper-proof containers.

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Union Minister Piyush Goyal launched seven new interventions under the Export Promotion Mission to support Micro, Small and Medium Enterprises for global markets. The Export Promotion Mission (EPM) is a flagship initiative of the Department of Commerce, Ministry of Commerce and Industry, announced in the Union Budget 2025–26. The Mission aims at inclusive export growth, social justice and empowerment of small exporters. It leverages nine Free Trade Agreements covering about 70 percent of global Gross Domestic Product and two-thirds of global trade. It follows two pillars: Niryat Protsahan for financial support and Niryat Disha for trade ecosystem support.

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India became the largest supplier of cotton products (apparel and home textiles) to the United States in 2025, replacing China, according to the United States Department of Agriculture (USDA). US imports of cotton products remained stable at 3.3 million tonnes, close to the 15-year average. Imports from China fell to about 0.5 million tonnes, while India exported around 0.6 million tonnes to the US. High US tariffs on China (10–125%) and diversification of supply chains reduced dependence on China. India benefits from vertically integrated textile supply chains, helping meet traceability standards. The Uyghur Forced Labor Prevention Act (UFLPA) and geopolitical risks also reduced US sourcing from China.

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Tamil Nadu has become India’s top textile-exporting state, with shipments worth USD 7,997.17 million in 2024-25, a 29.12% increase over the last four years. In 2020-21, Tamil Nadu’s textile exports were USD 6,193 million, showing consistent growth under the Dravidian Model government, led by Chief Minister M. K. Stalin. The state now contributes 21.84% of India’s total textile exports, outpacing Gujarat (USD 5,646.01 million) and Maharashtra (USD 3,831.29 million). Data is reported through the National Import-Export Record for Yearly Analysis of Trade, providing real-time comprehensive foreign trade data.

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National Highways Authority of India (NHAI) launched its first public Infrastructure Investment Trust (InvIT), now listed on the Bombay Stock Exchange (BSE). InvIT (Infrastructure Investment Trust) is an investment vehicle similar to mutual funds/Real Estate Investment Trusts (REITs) for infrastructure assets. It allows investors to directly invest in infrastructure projects like highways. InvITs pool funds from investors, list on stock exchanges, and distribute income to unit holders. InvITs are regulated by Securities and Exchange Board of India (SEBI) under InvIT Regulations, 2014.

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Central Consumer Protection Authority (CCPA) has directed hotels and restaurants not to charge extra costs like LPG or fuel charges. It was established under Consumer Protection Act, 2019, which replaced the 1986 Act and came into force in 2020. It works under Ministry of Consumer Affairs, Food and Public Distribution. CCPA protects and enforces consumer rights at a collective level. It prevents unfair trade practices and misleading advertisements.

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YES BANK has emerged as the highest-rated Indian bank in the S&P Global Corporate Sustainability Assessment (CSA) 2025, scoring 79/100. This achievement marks the fourth consecutive year the bank has featured in the S&P Global Sustainability Yearbook, placing it among the top 15% of global banking leaders. The bank is included in the 2025 Sustainability Yearbook, recognizing its leadership in Environmental, Social, and Governance (ESG) practices. The high rating is based on performance in areas like climate strategy (net-zero commitments), financial inclusion, human capital development, and corporate governance.