Business, Economy & Banking Current Affairs MCQs

Notes:
Recently, to tackle climate change risks, India is focusing on environmental disclosure frameworks like Business Responsibility and Sustainability Reporting (BRSR). BRSR is a mandatory reporting requirement for the top 1,000 listed companies in India. It was introduced by the Securities and Exchange Board of India (SEBI). The aim of BRSR is to promote sustainable business practices among companies. It requires companies to share information about their Environmental, Social, and Governance (ESG) performance in a transparent way.

Notes:
Recently, the Reserve Bank of India (RBI) directed all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to use the Financial Fraud Risk Indicator (FRI). FRI was launched by the Digital Intelligence Unit (DIU) of the Department of Telecommunications (DoT). It is a risk-based tool that marks a mobile number as Medium, High, or Very High financial fraud risk. It helps banks, Non-Banking Financial Companies (NBFCs), and Unified Payments Interface (UPI) providers protect customers.

Notes:
Recently, the Ambassador of Japan to India led a high-level business delegation to the Dholera Special Investment Region (SIR). The visit aimed to explore strategic cooperation in semiconductors and smart city development. Dholera SIR, India’s first greenfield smart industrial city, is located in Gujarat. The city focuses on advanced manufacturing, digital governance, and sustainable urban living. It is a key part of India’s vision to boost high-tech investments, particularly in the semiconductor sector

Notes:
Gujarat recorded 48.59 lakh tonnes of potato production in the 2024–25 season, including varieties for French fries and wafers. Gujarat is now the top producer of processed potatoes in India, followed by Uttar Pradesh and Punjab. Processed potato production in India grew from less than 1 lakh tonnes in 2004–05 to 11.50 lakh tonnes in 2024–25. Banaskantha, Sabarkantha, and Aravalli are Gujarat’s leading potato-growing districts, producing 38 lakh tonnes on 1.19 lakh hectares.

Notes:
India ranks second in global fish production, after China. Union Minister of Fisheries and Animal Husbandry stated this at a recent programme in Kolkata. Fish production in India rose by 103% in 2024–25 compared to 2013–14. Inland fisheries contribute nearly 75% of total fish production in India. Fisheries sector forms 1.12% of national Gross Value Added (GVA) and 7.26% of agricultural GVA. Around 30 million people are involved in the fisheries value chain. Union Budget 2025–26 proposed the highest ever financial support for fisheries sector.

Notes:
The Geological Survey of India (GSI) discovered huge gold deposits in Mahgawan Keolari area of Sihora tehsil, Jabalpur district, Madhya Pradesh. Samples confirmed the presence of gold along with valuable metals like iron, manganese, and copper. The deposits span about 100 hectares and are estimated to be in lakhs of tonnes. This is the first gold discovery in Jabalpur, which is already known for iron, manganese, and limestone exports. Earlier, gold was found in Katni, Madhya Pradesh.

Notes:
Recently, the Government of India revised the advance registration period for importing steel products on the Steel Import Monitoring System (SIMS) 2.0 portal, except for some items. SIMS 2.0, launched by the Union Ministry of Steel, builds on the 2019 SIMS to provide detailed steel import data to the domestic industry. It gives advance import information to the government and stakeholders, enabling better planning. Database integration helps identify risk areas, improve quality control, and support domestic steel industry growth and policymaking.

Notes:
The Globally Important Agricultural Heritage Systems (GIAHS) is a programme of the Food and Agriculture Organization (FAO) launched in 2002 at the World Summit for Sustainable Development. It was created to address threats to family farming and traditional agriculture such as climate change, displacement and biodiversity loss. Recently, the Minister of State for Agriculture informed the Lok Sabha that India has three GIAHS sites. Koraput in Odisha is known for paddy diversity, medicinal plants and tribal knowledge systems. Kuttanad in Kerala is a unique below-sea-level farming area with paddy, coconut, fishing and shell collection. Saffron Park in Kashmir is rich in saffron cultivation.

Notes:
State Bank of India (SBI) has launched a Centre of Excellence (CoE) for Micro, Small and Medium Enterprises (MSMEs) at the State Bank Academy (SBA), Gurugram. The Centre of Excellence (CoE) aims to strengthen the MSME ecosystem through capacity building, research, and industry collaboration, supporting India’s vision of becoming a developed nation. State Bank Academy (SBA) provides specialised training in Credit, International Banking, Risk & Compliance, and conducts Research & Development (R&D) in banking. Centre of Excellence (CoE) will develop case studies, research, and online knowledge repositories for MSMEs, including remote areas.

Notes:
Union Minister Nitin Gadkari unveiled a roadmap at the International Value Summit 2025, New Delhi, to make India a global hub for automobiles, green mobility, and infrastructure. India has surpassed Japan to become the third-largest automobile market, aiming for No. 1 position in five years. The top two countries for global automobile manufacturing are China and the United States. India leads in electric vehicles, hydrogen fuel, and alternative fuels, with hydrogen trucks launched and pilots on 10 routes.