Business, Economy & Banking Current Affairs MCQs

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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.

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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.

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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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The Financial Intelligence Unit India signed a Memorandum of Understanding (MoU) with the Pension Fund Regulatory and Development Authority to strengthen coordination against financial crimes. The MoU aims to enhance information sharing, training, and outreach for entities regulated by PFRDA. It focuses on improving Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) capabilities. The Financial Intelligence Unit (FIU), established in 2004 under the Ministry of Finance. FIU-IND acts as the national agency for analysing suspicious financial transactions, while PFRDA regulates India’s pension sector

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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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Union Finance and Corporate Affairs Minister Nirmala Sitharaman launched Mission Jagrook on April 25, 2026. It is a nationwide investor awareness initiative launched in collaboration with Securities and Exchange Board of India. The launch took place during the 38th Foundation Day of SEBI in Mumbai. The mission aims to educate retail investors about market risks and financial frauds, including AI-based deepfakes. It promotes financial literacy and safe investment practices among the public

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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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The Department of Financial Services under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a coverage capacity of USD 1.5 billion. The initiative includes a sovereign guarantee of ₹12,980 crore to ensure uninterrupted maritime insurance amid global geopolitical tensions, especially in the Middle East. BMIP covers maritime risks such as Hull and Machinery, Cargo, Protection and Indemnity (P&I), and War Risk for Indian vessels and cargo operations linked to India. The pool aims to strengthen India’s maritime risk protection framework and enhance sovereign control over maritime trade and insurance.