Business, Economy & Banking Current Affairs MCQs

Notes:
Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education Shri Jayant Chaudhary has launched a ₹530 crore ‘Skills Outcomes Fund’ campaign, anchored by the National Skill Development Corporation under the Ministry of Skill Development and Entrepreneurship. The fund aims to mobilise public and private capital to scale outcomes-based financing (OBF), linking investments directly to verified employment outcomes such as job placement, retention, and career progression. It promotes a blended finance model combining government funding with private sector investments and focuses on demand-driven, employer-led skilling.

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:
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.

Notes:
Saraswat Co-operative Bank Limited has become India’s largest Urban Co-operative Bank (UCB) after crossing ₹1 lakh crore total business in FY 2025–26. This milestone highlights the bank’s strong growth trajectory and leadership in the co-operative banking sector. The achievement is driven by an expanding customer base, improved services, and enhanced financial performance. It reflects the increasing importance of Urban Co-operative Banks (UCBs) in India’s banking ecosystem. The development underscores growing trust and efficiency in cooperative banking institutions.

Notes:
Adani Ports and Special Economic Zone announced that Mundra Port has become India’s largest automobile export hub, exporting a record 6,008 cars in a single vessel. Mundra Port exports vehicles to more than 100 countries through its Roll-on/Roll-off (RoRo) terminal, enabling efficient large-scale shipments. India’s automobile exports are rising steadily, with key markets in Africa, Latin America, the Middle East, and Europe. The port plays a crucial role in strengthening logistics infrastructure and export competitiveness of Indian automakers.

Notes:
Unified Payments Interface (UPI) has completed 10 years, transforming India into a real-time digital payment economy. The network expanded from 216 banks in 2021 to 691 banks by January 2026, creating a highly interoperable payment ecosystem. It has expanded internationally, being operational or linked with countries like UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar. It is operated by the National Payments Corporation of India, which regulates and manages retail payment systems in India.

Notes:
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.

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:
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.

Notes:
BSE Index Services has launched the BSE Housing Finance Index to track the performance of companies in the housing finance sector. The index is derived from constituents of the BSE 1000 Index that are classified under housing finance as a basic industry. It will be reconstituted semi-annually in June and December to ensure updated representation of the sector. The index is designed to support passive investment instruments like exchange-traded funds (ETFs) and index funds.