Business, Economy & Banking Current Affairs MCQs

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Reserve Bank of India under its strategy ‘Utkarsh 2029’ (2026–2029 framework for financial sector reforms) plans to advance Project Sa-Mudra (currency management modernisation initiative). It aims to expand CBDC (Central Bank Digital Currency: digital form of sovereign currency) for efficient cross-border payments. The framework rests on six pillars: robust regulations, inclusive finance, competitive markets, effective technology, future-ready organisation, and Global India. RBI will scale up ULI (Unified Lending Interface: digital platform for seamless credit access) to improve credit delivery to underserved sectors.

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ITC Limited became the first Indian company to receive the Farm Sustainability Assessment (FSA) 3.0 certification. The certification is developed by the Sustainable Agriculture Initiative Platform. It validates sustainable, traceable, and ethically sourced farming practices for wheat and paddy. The initiative covers more than 22,000 acres and 3,500 farmers across Uttar Pradesh and Bihar through 70+ Farmer Producer Organizations (FPOs). It promotes soil health, efficient resource use, and higher farmer incomes.

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Under the Startup India initiative, more than 55,200 startups were recognized in FY 2025–26, the highest ever in a single year, taking the total to more than 2.23 lakh startups and generating more than 23.36 lakh jobs. Startup growth increased by 51.6% year-on-year, while job creation rose by 36.1%, showing strong expansion of India’s startup ecosystem. Around 48% of startups (more than 1.07 lakh) have at least one woman director or partner, indicating rising gender inclusion.
Startups are now present across all States and Union Territories, with Maharashtra having the highest number of recognized startups (more than 38,660), followed by Karnataka, Uttar Pradesh, Delhi, and Gujarat.

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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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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.

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The Reserve Bank of India launched Mission SAKSHAM for strengthening the Urban Co-operative Banks (UCBs) sector. It is a nationwide capacity-building initiative focused on improving managerial and operational efficiency. The mission aims to enhance compliance culture, governance, and institutional resilience in UCBs. It will include training programmes (offline and e-learning) covering around 1.4 crore participants.

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The Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency (PaRRVA). PaRRVA aims to enhance transparency and investor protection in financial markets. CARE Ratings Limited has been recognised as the PaRRVA agency. National Stock Exchange of India Limited will act as the PaRRVA Data Centre (PDC). The system allows entities like investment advisers and research analysts to display verified performance data. It helps investors access authentic risk-return information for better decision-making. The pilot phase began in December 2025, and full operations start from May 4, 2026.

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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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India has become the second-largest trading partner of Bangladesh, overtaking the United States. According to the Bangladesh Bureau of Statistics, India accounted for 8.47% of Bangladesh’s total trade in February, valued at Tk 123.28 billion. The United States followed closely with an 8.46% share worth Tk 123.17 billion. The development reflects Bangladesh’s increasing economic dependence on regional trade and imports from neighbouring countries.