Business, Economy & Banking Current Affairs MCQs

Notes:
Reserve Bank of India proposed removing due diligence for onboarding Micro, Small and Medium Enterprises (MSMEs) on Trade Receivables Discounting System (TReDS) platforms to enhance ease of doing business. Trade Receivables Discounting System (TReDS) is an electronic platform enabling financing/discounting of MSME trade receivables via multiple financiers. The platforms are regulated by the Reserve Bank of India (RBI). Its objective is to ensure quicker payments and improved working capital for MSMEs.

Notes:
India has limited the requirement of certification from the Export Inspection Council (EIC) for rice exports only to select countries—European Union (EU), United Kingdom (UK), Iceland, Liechtenstein, Norway, and Switzerland. The Export Inspection Council was established under the Export (Quality Control and Inspection) Act, 1963. It ensures quality and safety of Indian export products to meet importing country standards. It functions as India’s official export certification authority. The Council operates under the administrative control of the Ministry of Commerce and Industry, which is its nodal ministry.

Notes:
Startup India Fund of Funds 2.0 has been notified with a corpus of ₹10,000 crore to mobilize venture and growth capital for startups. It builds upon the earlier Fund of Funds for Startups (FFS 1.0) launched in 2016 under the Startup India Action Plan to address funding gaps. The fund will invest in SEBI-registered Alternative Investment Funds (AIFs), which will further invest in eligible startups. Small Industries Development Bank of India (SIDBI) acts as the Implementation Agency. The scheme aims to boost innovation, job creation, manufacturing, and support India’s vision of becoming a global innovation hub under Viksit Bharat 2047.

Notes:
India’s Wholesale Price Index (WPI)-based inflation stood at 1.64% in March 2026, as per provisional government data. The data was released by the Department for Promotion of Industry and Internal Trade. On a month-on-month basis, WPI declined by 0.06%, indicating easing price pressures. Primary articles index stood at 197.3, showing mixed trends with a monthly decline but positive year-on-year growth. WPI reflects producer-level price changes, indicating supply-side inflation in the economy. The index is compiled using data from institutional sources and manufacturing units across India. WPI data is released monthly (around 14th), with April 2026 data scheduled for May 14, 2026.

Notes:
China has become India’s largest trading partner in 2025–26, surpassing the United States after four years. India–China bilateral trade reached 151.1 billion, with a record trade deficit of about 112 billion in China’s favour. India’s exports to China rose by 36.66% to 19.47 billion, while imports increased to 131.63 billion, widening the deficit. With the United States, India’s exports grew marginally to 87.3 billion, while imports rose to 52.9 billion, reducing the trade surplus. India recorded negative export growth with partners like Netherlands, UK, Singapore, Bangladesh, and Saudi Arabia. Positive export growth was seen with UAE, Germany, Italy, Brazil, Spain, and Vietnam.

Notes:
Department for Promotion of Industry and Internal Trade data shows that Singapore was the top source of FDI (Foreign Direct Investment) equity inflows into India during April–December FY26, contributing 17.6 billion (37%). The United States (16%) and Mauritius (10%) were the next major contributors, followed by Japan and the UAE. India received a total of 47.87 billion in FDI equity inflows during this period. The top sectors attracting FDI were Computer Software & Hardware (22%) and Services (Financial, Banking, R&D) at 18%. Among states, Maharashtra received the highest inflows, followed by Karnataka.

Notes:
Atal Pension Yojana crossed 9 crore enrolments (April 2026), with a record 1.35 crore added in Financial Year (FY) 2025–26. It was launched in 2015. It is administered by Pension Fund Regulatory and Development Authority. It is a voluntary, contributory pension scheme targeting unorganized sector workers. It is eligible for Indian citizens aged 18–40 years (excluding income tax payers). It ensures guaranteed pension of ₹1,000–₹5,000 after 60 years of age.

Notes:
The Department of Financial Services approved Viability Plan 2.0 for Regional Rural Banks to improve financial sustainability and operational efficiency. The plan will be implemented for three years from 2025–26 to 2027–28 under the Ministry of Finance. It aims to strengthen governance reforms, improve profitability, enhance operational excellence, and ensure long-term competitiveness of Regional Rural Banks. Viability Plan 1.0 was introduced in Financial Year 2022–23 focusing on credit expansion, Non-Performing Asset reduction, digital adoption, and cost rationalization. Viability Plan 2.0 includes 30 performance parameters to monitor the functioning of all 28 Regional Rural Banks.

Notes:
The Department of Financial Services under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a coverage capacity of USD 1.5 billion. The initiative includes a sovereign guarantee of ₹12,980 crore to ensure uninterrupted maritime insurance amid global geopolitical tensions, especially in the Middle East. BMIP covers maritime risks such as Hull and Machinery, Cargo, Protection and Indemnity (P&I), and War Risk for Indian vessels and cargo operations linked to India. The pool aims to strengthen India’s maritime risk protection framework and enhance sovereign control over maritime trade and insurance.

Notes:
India has become the second-largest trading partner of Bangladesh, overtaking the United States. According to the Bangladesh Bureau of Statistics, India accounted for 8.47% of Bangladesh’s total trade in February, valued at Tk 123.28 billion. The United States followed closely with an 8.46% share worth Tk 123.17 billion. The development reflects Bangladesh’s increasing economic dependence on regional trade and imports from neighbouring countries.