Business, Economy & Banking Current Affairs MCQs

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The Reserve Bank of India has released the “Payments Vision 2028” roadmap with the theme “Shaping India’s Payment Frontier” to guide the future of digital payments. The vision outlines 15 key initiatives and marks a shift beyond the earlier “4Es” (Everyone, Everywhere, Every time) toward consumer trust, system resilience, and global expansion. It proposes a shared liability framework, where both the sender’s and receiver’s banks will jointly bear responsibility for unauthorised digital transactions. It aims to bring e-commerce marketplaces and payment aggregators under direct RBI regulation, strengthening oversight of digital payments.

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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.

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The Reserve Bank of India has launched a pilot Benchmark Issuance Strategy (BIS) to streamline state government borrowings starting from FY 2026–27. The strategy will be implemented across nine states, namely Andhra Pradesh, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, and Uttar Pradesh. Under this strategy, states will issue State Development Loans in predefined benchmark tenor buckets based on a pre-announced borrowing calendar. The BIS aims to bring greater structure, predictability, and standardisation to state borrowings in the debt market.

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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.

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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.

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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.

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Khanij Bidesh India Limited (KABIL) has received environmental clearance from the Government of Argentina for deep exploration of five brine-based lithium blocks. This marks a significant step in securing critical minerals, especially lithium, which is essential for batteries and clean energy technologies. Khanij Bidesh India Limited (KABIL) is a joint venture of three Central Public Sector Enterprises—National Aluminium Company Limited (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL)—with a shareholding ratio of 40:30:30.

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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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Life Insurance Corporation of India launched MyLIC App (for customers) and Super Sales Saathi App (for intermediaries) to enhance digital insurance services. LIC manages over 260 million policies, highlighting its vast insurance footprint in India. MyLIC App offers a 360° digital platform with services like premium payment, policy tracking, e-KYC (electronic Know Your Customer), claims support, and paperless loans. It enables users to revive lapsed policies and purchase insurance online seamlessly. Super Sales Saathi App provides digital tools for agents, including performance dashboards, AI-based insights, and real-time tracking.

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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.