Business, Economy & Banking Current Affairs MCQs

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The Rubber Board launched two initiatives, iSNR (Indian Sustainable Natural Rubber) and INR Konnect. iSNR ensures compliance with the EU Deforestation Regulation (EUDR) by streamlining the rubber supply chain for EU markets. It provides traceability certificates verifying the origin of rubber products and their compliance with EUDR standards. This initiative aims to make Indian natural rubber competitive and responsible globally, promoting sustainable production and industry growth. INR Konnect is a web-based platform connecting untapped rubber growers with adopters to improve plantation productivity. It certifies participants, offers training in sustainable practices, and maintains a database of certified tappers.

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The Finance Minister announced that National Bank for Financing Infrastructure and Development (NaBFID) will establish a partial credit enhancement facility for corporate bonds in the infrastructure sector. NaBFID is a specialized Development Finance Institution (DFI) supporting infrastructure development in India. It was established in 2021 under the National Bank for Financing Infrastructure and Development Act, 2021. Its objectives include filling gaps in long-term infrastructure financing, developing bond and derivatives markets, and boosting economic growth. NaBFID is regulated and supervised by the RBI as an All-India Financial Institution (AIFI). It focuses on long-term credit solutions for infrastructure projects in India.

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Axis Bank became the first Indian bank to implement compliance for the Digital Personal Data Protection Act (DPDP Act) 2023 in partnership with Privy by IDfy. The DPDP Act 2023 sets new standards for data protection and accountability. It requires privacy notices in 22 languages, maintaining consent records, obtaining parental consent for minors, and reporting privacy breaches. The initiative reflects Axis Bank’s commitment to customer privacy, ethics, and transparency.

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On 22 February 2025, the Uttar Pradesh Chief Minister laid the foundation stone for India’s first biopolymer plant in Kumbhi, Lakhimpur Kheri. The plant will be built by Balrampur Sugar Mills Limited at a cost of ₹2,850 crore. It will produce biopolymers using biological methods, supporting eco-friendly industrial growth. The project aims to replace plastic with sustainable biopolymers, promoting environmental protection. This initiative aligns with India’s goal of self-reliance and sustainability.

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Former RBI Governor Shaktikanta Das has been appointed Principal Secretary-2 to Prime Minister Narendra Modi. His selection was approved by the Appointments Committee of the Cabinet. He is a 1980-batch IAS officer from the Tamil Nadu cadre. His tenure will last until the Prime Minister’s term ends or until further orders.

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Paytm launched ‘Paytm Solar Soundbox’, India’s first solar-powered payment soundbox for merchants. The device charges quickly with minimal sunlight and provides full-day power for uninterrupted payments. It is a Made in India product and an eco-friendly solution using low-cost alternative energy. It is designed for rural and remote areas with electricity shortages, ensuring digital inclusion. The initiative supports small shop owners, promotes financial inclusion, and encourages sustainable practices across India.

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The RBI released its quarterly House Price Index (HPI) for the December 2024-25 quarter on February 27, 2025. The all-India HPI grew by 3.1% in Q3 2024-25, lower than 4.3% in the previous quarter and 3.8% a year ago. Data is based on transactions from 10 major cities: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. Kolkata saw the highest annual HPI growth (8.1%), while Kanpur had the lowest (0.1%). On a quarterly basis, HPI rose by 0.4%, with most major cities recording a price increase.

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Yes Bank was the only Indian bank to be included in the 2025 S&P Global Sustainability Yearbook, which recognizes the top 15% of global banking leaders. Yes Bank was also the highest-rated bank in India for sustainability for the third year in a row. Yes Bank scored 72 out of 100 on the S&P Global Corporate Sustainability Assessment (CSA).

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The Geological Survey of India (GSI) is celebrating its 175th year of geoscientific legacy. It was established in 1851 by Sir Thomas Oldham to locate coal deposits for the Railways. GSI provides geological expertise for policy-making, commercial, and socio-economic needs. It documents geological processes across India’s land and offshore areas. The organization conducts geological, geophysical, and geochemical surveys with advanced techniques. Its primary functions include updating geoscientific data and assessing mineral resources. GSI operates under the Ministry of Mines as an attached office.

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The Union Minister for Housing and Urban Affairs announced the Cities Coalition for Circularity (C-3). It is a global alliance promoting city-to-city collaboration, knowledge-sharing, and private sector partnerships. The announcement was made at the 12th Regional 3R and Circular Economy Forum in Jaipur. C-3 aims to boost resource efficiency and support a low-carbon economy. It will enhance cooperation among policymakers, industry leaders, and researchers. The initiative focuses on building a sustainable future through circular economy principles.