Business, Economy & Banking Current Affairs MCQs

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The Central Bank of the United Arab Emirates has launched the world’s first Sovereign Financial Cloud Services Infrastructure (SFCSI). It is developed with Core42, a subsidiary of G42. The platform ensures data sovereignty, meaning financial data remains within the UAE’s legal and security boundaries. It offers integrated cybersecurity, unified multi-cloud management, and Artificial Intelligence (AI)-based analytics. It allows real-time processing, automation, and predictive risk analysis for licensed financial institutions. It reduces dependence on foreign cloud providers and strengthens regulatory control.

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L&T Finance Ltd has launched a specialised programme called “Spoorthi” for women entrepreneurs to provide targeted financial support. The programme offers extended loan tenors up to 25 years for house property loans or Loan Against Property (LAP) for business expansion and working capital. Industrial LAP tenors of up to 12 years are also available, with enhanced eligibility norms, including higher debt-to-income ratios for greater financial flexibility. L&T Finance aims to leverage women borrowers’ strong repayment discipline to scale businesses and secure personal assets, promoting an inclusive financial ecosystem.

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Ministry of Statistics and Programme Implementation (MoSPI) released a new Gross Domestic Product (GDP) data series with base year 2022–23, replacing 2011–12. GDP data is crucial for economic policymaking, fiscal planning, investment decisions, and overall macroeconomic analysis in India. The new series includes updated methodologies and improved data collection techniques. Despite improvements, concerns remain over large statistical discrepancies in the data. Questions have also been raised about the accuracy and credibility of real GDP growth estimates.

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Tamil Nadu has become India’s top textile-exporting state, with shipments worth USD 7,997.17 million in 2024-25, a 29.12% increase over the last four years. In 2020-21, Tamil Nadu’s textile exports were USD 6,193 million, showing consistent growth under the Dravidian Model government, led by Chief Minister M. K. Stalin. The state now contributes 21.84% of India’s total textile exports, outpacing Gujarat (USD 5,646.01 million) and Maharashtra (USD 3,831.29 million). Data is reported through the National Import-Export Record for Yearly Analysis of Trade, providing real-time comprehensive foreign trade data.

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Project Insight (PI) is an AI-driven tax administration system in India that tracks financial transactions and detects tax evasion. It is implemented by the Income Tax Department (ITD), Ministry of Finance, Government of India. It aims to enhance voluntary tax compliance by nudging taxpayers to report accurate income and strengthen tax enforcement by identifying high-risk evasion cases.

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Ministry of Micro Small and Medium Enterprises implements MSE-CDP (Micro and Small Enterprises Cluster Development Programme) to improve productivity and competitiveness of MSEs (Micro and Small Enterprises). The scheme provides financial assistance to set up Common Facility Centres (CFCs) and upgrade infrastructure in industrial clusters. It is a demand-driven scheme with proposals from States and Union Territories based on needs. 242 CFCs have been approved across India including 6 in Punjab, while 513 clusters approved under SFURTI (Scheme of Fund for Regeneration of Traditional Industries) since 2015–16.

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Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2025 results released for January–December 2025 period. It is conducted by National Statistical Office (NSO) under Ministry of Statistics and Programme Implementation (MoSPI). The purpose is to provide inputs for Gross Domestic Product (GDP) estimation and National Accounts. It covers unincorporated non-agricultural sector, including manufacturing, trade, and services. Tracks key indicators like employment, Gross Value Added (GVA), wages, and digital usage. It helps in understanding the informal economy and Micro, Small and Medium Enterprises (MSMEs) sector.

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YES BANK has emerged as the highest-rated Indian bank in the S&P Global Corporate Sustainability Assessment (CSA) 2025, scoring 79/100. This achievement marks the fourth consecutive year the bank has featured in the S&P Global Sustainability Yearbook, placing it among the top 15% of global banking leaders. The bank is included in the 2025 Sustainability Yearbook, recognizing its leadership in Environmental, Social, and Governance (ESG) practices. The high rating is based on performance in areas like climate strategy (net-zero commitments), financial inclusion, human capital development, and corporate governance.

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The Insurance Regulatory and Development Authority of India has recently introduced Indian Accounting Standards (Ind AS) for the insurance sector to modernise financial reporting practices. Ind AS were originally notified in 2015 by the Ministry of Corporate Affairs and are largely converged with the International Financial Reporting Standards, thereby aligning India’s accounting system with global norms. These standards follow a principle-based approach, focusing on fair value measurement, improved transparency, and enhanced financial disclosures, which helps in better decision-making and comparability.

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Skill India Digital Hub (SIDH) has been integrated with the e-Shram Portal to provide skilling opportunities to registered workers across all States. Through this integration, e-Shram beneficiaries can directly access training courses and upskilling programmes available on SIDH. SIDH enables issuance of digitally verifiable and tamper-proof credentials, improving trust, portability, and recognition of skills. The platform is integrated with Bhashini, allowing translation into 22 regional languages, promoting inclusivity.