Business, Economy & Banking Current Affairs MCQs

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Securities and Exchange Board of India (SEBI) launched Past Risk and Return Verification Agency (PaRRVA) to improve transparency in financial markets. PaRRVA is a new system to verify and authenticate past performance claims made by regulated market intermediaries. It was launched on a pilot basis by Care Ratings in collaboration with National Stock Exchange (NSE). It applies to SEBI-registered Investment Advisers, Research Analysts, and Algorithmic (Algo) Stock Brokers.

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The government has launched a nationwide campaign ‘Your Money, Your Right’ to help citizens reclaim unclaimed financial assets such as bank deposits, insurance proceeds, dividends, shares, mutual funds and pensions. The campaign began on October 4, 2025, and aims to return dormant financial assets to their legitimate owners through simplified, district-level support mechanisms. Between October and November 2025, citizens successfully reclaimed around ₹2,000 crore of unclaimed funds. From October to December 5, 2025, dedicated camps were organised in 477 districts, involving public representatives, district administrations and financial institution officials.

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The Cabinet Committee on Economic Affairs approved the CoalSETU window, a new policy mechanism for long-term coal linkages. CoalSETU is added to the Non-Regulated Sector (NRS) Linkage Auction Policy of 2016. Unlike existing NRS linkages reserved for specific sectors (cement, sponge iron, aluminium, steel, captive power), any domestic industrial consumer can now participate. Coking coal is excluded and traders cannot bid under this window. Linkage holders can use coal for own consumption, washing, or export, but resale within India is prohibited. Export is allowed for up to 50% of allocated coal, and distribution among group entities is permitted.

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Oman introduced its first polymer one-rial banknote, to start circulation on 11 January 2026. It is issued by the Central Bank of Oman, replacing traditional cotton-based notes with durable polymer for longer life and better security. The note size is 145 × 76 mm and showcases Oman’s cultural and economic identity. Front side features the Oman Botanic Garden, symbolising commitment to natural heritage. Rear side shows Sayyid Tariq bin Taimur Cultural Complex, Duqm Port and Refinery, highlighting cultural and economic progress. The polymer notes will circulate alongside existing one-rial notes and remain legal tender.

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According to recent 2025 data, the three countries with the largest rare earth oxide (REO) reserves are China, Brazil, and India. India has the world’s third-largest rare earth reserves with about 6.9 million tonnes of Rare Earth Oxide (REO). It ranks after China with 44 million tonnes and Brazil with 21 million tonnes of reserves. Despite this, India produced only 2,900 tonnes of rare earths in 2024, ranking seventh globally. China led production with 270,000 tonnes, followed by the United States with 45,000 tonnes. India holds 6–7% of global reserves but contributes less than 1% of global production.

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As per recent report by Indian government, India surpassed Japan to become the world’s fourth-largest economy with Gross Domestic Product (GDP) of USD 4.18 trillion. India is expected to overtake Germany to become the third-largest economy by 2030 with projected GDP of USD 7.3 trillion. India remains the world’s fastest-growing major economy despite global trade uncertainties. Real GDP grew 8.2% in Quarter 2 of 2025–26, rising steadily from previous quarters. Growth is driven mainly by strong private consumption and domestic demand. The United States (US) ranks first and China second in global economy size.

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A Sakthivel has been appointed as the Chairman of the Apparel Export Promotion Council (AEPC), marking his fifth term leading the organisation. Apparel Export Promotion Council (AEPC) was established in 1978. It was set up under the Foreign Trade (Development and Regulation) Act, 1992. AEPC is the official body representing apparel exporters in India. It functions under the Ministry of Textiles, Government of India. Its main role is to promote and support exports of Indian garments and textiles globally.

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Tripura Gramin Bank became the first Gramin Bank in India to introduce a solar-powered ATM van, promoting sustainable and inclusive banking. The initiative earned the bank the prestigious SKOCH Silver Award for innovative governance practices. The bank operates around 150 branches across remote areas of Tripura, supporting financial inclusion. The solar-powered ATM van improves banking access in rural and electricity-scarce regions. The initiative was inaugurated by Union Finance Minister Nirmala Sitharaman on 21 July 2023. The bank currently runs three such eco-friendly ATM vans.

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India’s eight core infrastructure industries grew 3.7% in December 2025, driven by higher production of cement, steel, coal, electricity, and fertilisers. The Index of Eight Core Industries (ICI) rose to 175.7 points from 169.4 points in December 2024. Core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity, accounting for 40.27% of the Index of Industrial Production (IIP).

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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.