Business, Economy & Banking Current Affairs MCQs

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Securities and Exchange Board of India proposed “GARUDA” (Green-Channel: AIF Rollout Upon Document Acknowledgement) to speed up the launch process of Alternative Investment Fund (AIF) schemes. Under the proposal, standard AIF schemes may be launched within 10 working days instead of 30 days if no objections are raised by SEBI. Schemes for accredited investors or angel funds may use direct filing without requiring a merchant banker. The initiative aims to improve ease of doing business and accelerate capital deployment in the AIF sector.

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Assam inaugurated India’s first AI-powered “phygital” banking branch in Guwahati. The branch was launched by Slice Small Finance Bank at GS Road. The AI-enabled branch combines physical and digital banking services through self-service kiosks, paperless cash transactions, and digital onboarding. The initiative aims to strengthen financial inclusion and improve access to banking services for underserved communities and small businesses. The branch will support responsible credit, savings, and digital payment solutions.

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RAINMUMBAI is India’s first SEBI-approved exchange-traded weather derivatives contract launched by National Commodity and Derivatives Exchange. The contract is designed to help businesses hedge losses caused by unpredictable weather and monsoon variability. Unlike traditional insurance, weather derivatives are settled using actual weather data rather than physical damage assessments, enabling faster payouts. The product was developed in collaboration with Indian Institute of Technology Bombay using Mumbai rainfall data. Rainfall data will be provided by the India Meteorological Department from Santacruz and Colaba stations.

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The Government of India has revised the base year of the Wholesale Price Index (WPI) from 2011–12 to 2022–23. The revised WPI series and new Producer Price Indices (PPIs) will be released by the Office of Economic Adviser under the Department for Promotion of Industry and Internal Trade. New indices include Output Producer Price Index (OPPI), Input Producer Price Index (IPPI), and Service Producer Price Index (Service PPI). The transition from WPI to PPI aligns India’s statistical framework with international standards recommended by the International Monetary Fund. Both WPI and PPI will be released simultaneously for five years before WPI is phased out.

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The Pension Fund Regulatory and Development Authority has introduced StAR NPS, a new digital onboarding platform for the National Pension System (NPS). The platform has been developed by BSE Technologies Private Limited. It enables fully digital NPS account opening and contribution processing through Points of Presence (PoPs). The platform aims to simplify subscriber onboarding, reduce paperwork, and improve digital access to retirement savings.

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The success of Amazon, the world’s largest e-commerce retailer, is partly attributed to its use of dropshipping practices, which help reduce inventory and warehousing costs while improving operational efficiency. Dropshipping is a retail business model in which sellers accept customer orders without keeping products in stock. After receiving an order, the seller purchases the product from a third-party supplier, who ships it directly to the customer. The seller acts as an intermediary between the supplier and the consumer. The model reduces costs related to warehousing, inventory management, and unsold stock.

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Agricultural and Processed Food Products Export Development Authority (APEDA) has successfully completed the first cohort of its BHARATI programme (Bharat’s Hub for Agritech, Resilience, Advancement and Incubation for Export Innovation). It is an initiative of APEDA. The initiative aims to promote innovation-driven growth in agri-food exports and support India’s target of USD 50 billion agri-food exports by 2030. Startups under the programme achieved early export success, including GI-tagged mangoes, millet-based products, and organic goods to global markets like the UAE, EU, USA, UK, and New Zealand. The programme strengthens India’s agri-export ecosystem through startups, technology, and value addition.

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Specialised Investment Funds (SIFs) have crossed ₹13,814 crore in Assets Under Management (AUM) shortly after their introduction. Specialised Investment Funds (SIFs) is a new investment product introduced by the Securities and Exchange Board of India (SEBI). It aims to bridge the gap between mutual funds and Portfolio Management Services (PMS). The framework was introduced through amendments to the SEBI (Mutual Funds) Regulations, 1996. SIF investment strategies are divided into Equity-oriented, Debt-oriented, and Hybrid strategies. Currently, only one strategy per category is permitted for each SIF.

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National Bank for Agriculture and Rural Development (NABARD) launched Gramodyam, a rural entrepreneurship development programme, on its 45th Foundation Day. The programme is implemented in collaboration with the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship (MSDE). Gramodyam aims to identify, train, mentor, and support aspiring rural entrepreneurs by providing industry-relevant skills, entrepreneurship training, credit facilitation, market linkages, and mentoring. It seeks to promote sustainable rural enterprises, employment generation, and inclusive economic growth.

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The Internet and Mobile Association of India (IAMAI) recently launched the E-Commerce Council of India (ECCI). It is the first national platform dedicated to strengthening and unifying India’s digital commerce ecosystem. The ECCI aims to bring together policymakers, e-commerce platforms, brands, retailers, logistics providers, technology firms, payment providers, startups, MSMEs, exporters, industry experts, and academic institutions. It promotes collaboration between industry and government for the growth of digital commerce.