Business, Economy & Banking Current Affairs MCQs

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India’s first flex-fuel passenger vehicle was launched by Maruti Suzuki in New Delhi. The vehicle was launched by Union Minister for Petroleum and Natural Gas Hardeep Singh Puri and Union Minister for Road, Transport and Highways Nitin Gadkari. Flex-fuel vehicles can run on ethanol-petrol blends ranging from E20 to E100. The initiative supports cleaner mobility, energy security, reduced crude oil imports, and increased ethanol usage. The move is expected to benefit farmers, promote biofuels, and reduce vehicular emissions.

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According to Official Airline Guide (OAG) data, India has become the third-largest domestic aviation market globally. India ranks behind the United States and China in domestic aviation capacity. India surpassed Brazil and Indonesia to achieve this position. The Government has taken several steps to boost the civil aviation sector. These steps include developing international aviation hubs and establishing Maintenance, Repair and Overhaul (MRO) facilities. The Government has also prepared an International Aviation Hub Strategy to strengthen aviation infrastructure.

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Union Finance Minister Nirmala Sitharaman inaugurated the North East’s largest organic spice processing unit at Bhoirymbong, Meghalaya. The facility has been established under the Mission Organic Value Chain Development for North Eastern Region (MOVCD-NER). It is operated by the Eastern Ri-Bhoi Organic Farmer Producer Company Limited. It is the first organically certified spice processing unit in North-East India.

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The RBI has allowed financiers on TReDS (Trade Receivables Discounting System) platforms to access government-backed credit guarantee cover for financed invoices. TReDS is an RBI-regulated electronic platform that helps MSMEs obtain working capital by discounting invoices through competitive bidding. It provides collateral-free and non-recourse financing, improving liquidity for MSMEs and reducing default risk. Registration on TReDS is mandatory for Central Public Sector Enterprises (CPSEs) and corporate buyers with an annual turnover above ₹250 crore.

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The Union Cabinet approved an additional ₹30,000 crore investment in the National Investment and Infrastructure Fund (NIIF). NIIF is a Government of India-backed fund created to enhance infrastructure financing in the country.
It is India’s first sovereign wealth fund (SWF). NIIF was registered with SEBI as a Category II Alternative Investment Fund (AIF) in 2015. It serves as a collaborative investment platform for Indian and international investors. NIIF invests in infrastructure, private equity, and other diversified sectors, including greenfield, brownfield, and stalled projects.

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The Reserve Bank of India implemented the revamped Integrated Ombudsman Scheme on July 2, 2026. The new scheme replaces the 2021 Integrated Ombudsman Scheme for resolving customer complaints against banks, select NBFCs, PPI issuers, and credit information companies. It follows the “One Nation, One Ombudsman” approach, allowing complaints to be handled regardless of the customer’s or institution’s location. The scheme provides a free, faster, and non-adversarial mechanism for resolving service-related complaints.

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The Employees’ Provident Fund Organisation (EPFO) has launched the Amnesty Scheme, 2026 to provide a one-time opportunity for establishments operating exempted Provident Fund (PF) Trusts to regularise their status under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. The scheme, introduced by the Ministry of Labour and Employment, will remain open for six months from 29 June 2026. The scheme provides relief by waiving certain eligibility conditions, allowing retrospective regularisation, and withdrawing pending assessments related to PF dues, damages, and interest, subject to prescribed conditions.

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The Udyam Registration Portal and Udyam Assist Platform, launched by the Ministry of Ministry of Micro, Small and Medium Enterprises (MSME), are promoting the formalisation of MSMEs and strengthening India’s entrepreneurial ecosystem. Udyam Registration provides a free, paperless, self-declaration-based online registration for MSMEs, while the Udyam Assist Platform helps informal micro enterprises gain formal recognition. These initiatives promote inclusive growth by supporting women, SC/ST entrepreneurs, rural enterprises, artisans, start-ups, and youth entrepreneurs. As July 2026, more than 8.9 crore enterprises have been registered through the two platforms, generating employment for more than 38 crore people.

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The Ministry of Statistics and Programme Implementation (MoSPI) has released India’s first trial Index of Services Production (ISP). The base year for the index is 2024–25, and the first release covers April 2026. The trial ISP covers 19 service sub-sectors, representing nearly 60% of India’s formal services sector. It is developed using administrative data, including GST records, without increasing compliance burden. Accommodation & Food Services (37.2%) and Retail Trade (30.8%) recorded the highest growth. The index will be available on the e-Sankhyiki portal, with future expansion expected to cover 85–90% of the formal services sector.

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Employees’ Provident Fund Organisation (EPFO) launched VISHWAS, 2026, a one-time dispute resolution scheme. It aims to settle disputes related to damages/penalties under the Employees’ Provident Funds and Miscellaneous Provisions (EPF & MP) Act, 1952 and the Code on Social Security, 2020.
The scheme came into effect on 29 June 2026 and will remain operational for six months. It covers pending cases under appeal, recovery cases, cases with pending orders, and cases where notices are yet to be issued.