Business, Economy & Banking Current Affairs MCQs

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The Reserve Bank of India has released the “Payments Vision 2028” roadmap with the theme “Shaping India’s Payment Frontier” to guide the future of digital payments. The vision outlines 15 key initiatives and marks a shift beyond the earlier “4Es” (Everyone, Everywhere, Every time) toward consumer trust, system resilience, and global expansion. It proposes a shared liability framework, where both the sender’s and receiver’s banks will jointly bear responsibility for unauthorised digital transactions. It aims to bring e-commerce marketplaces and payment aggregators under direct RBI regulation, strengthening oversight of digital payments.

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The Insurance Regulatory and Development Authority of India has recently introduced Indian Accounting Standards (Ind AS) for the insurance sector to modernise financial reporting practices. Ind AS were originally notified in 2015 by the Ministry of Corporate Affairs and are largely converged with the International Financial Reporting Standards, thereby aligning India’s accounting system with global norms. These standards follow a principle-based approach, focusing on fair value measurement, improved transparency, and enhanced financial disclosures, which helps in better decision-making and comparability.

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The National Statistics Office under Ministry of Statistics and Programme Implementation launched the first-ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) in April 2026. The survey covers all States and Union Territories with reference period FY 2024–25 and aims to build a comprehensive database of the incorporated services sector. It uses the GSTN database as the sampling frame and will survey around 1.21 lakh enterprises. ASISSE focuses on corporate entities registered under the Companies Act (1956/2013) and the Limited Liability Partnership Act, 2008. It covers key service sectors such as trade, transport, hospitality, IT, education, and health, which together form a major part of India’s economy.

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Amul became the first Fast-Moving Consumer Goods (FMCG) company in India to cross ₹1 lakh crore turnover in FY 2025–26. The company recorded a total group turnover of ₹1,00,000 crore, with around 11% growth over the previous year. Its marketing arm, Gujarat Cooperative Milk Marketing Federation, reported revenue of ₹73,450 crore in FY26, up from ₹65,911 crore in FY25. The milestone establishes Amul as the largest FMCG organisation in India.

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Reserve Bank of India has released a report titled “Exploring Safeguards in Digital Payments to Curb Frauds” to address rising digital payment scams. It proposes a cooling-off period of one hour for transfers above ₹10,000 to new beneficiaries, allowing users to cancel fraudulent transactions. A trusted person mechanism is suggested, where high-value transactions above ₹50,000 by senior citizens or persons with disabilities may require secondary approval. A kill switch facility is proposed to enable users to instantly disable all payment channels during emergencies. Whitelisting of beneficiaries would allow users to pre-approve trusted payees and avoid additional verification or delays.

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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.

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The International Monetary Fund (World Economic Outlook, April 2026) ranked India as the 6th largest economy in 2025–26. India’s GDP is estimated at 3.92 trillion, behind the United Kingdom (4 trillion) and Japan ($4.44 trillion). The decline in rank is statistical, not due to weak growth, as India remains one of the fastest-growing economies. The main reason is rupee depreciation, since GDP is measured in US dollar terms, reducing India’s relative size. A revision of GDP base year (2011–12 to 2022–23) also lowered nominal GDP estimates. India is projected to regain 4th position by 2027 and surpass Japan by 2028, becoming the 3rd largest economy by 2031.

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Developing countries launched the Borrowers’ Platform at the International Monetary Fund–World Bank Spring Meetings 2026. It is a platform for borrower nations to share experiences, coordinate policies, and collectively raise debt-related concerns. It includes Finance Ministers and Central Bank Governors to strengthen debt management and global negotiation capacity. It is governed by Finance Ministers, supported by technical debt officials for policy inputs. It is not a debt-restructuring mechanism, but a coordination and dialogue forum.

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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.

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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.