Business, Economy & Banking Current Affairs MCQs

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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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China has become India’s largest trading partner in 2025–26, surpassing the United States after four years. India–China bilateral trade reached 151.1 billion, with a record trade deficit of about 112 billion in China’s favour. India’s exports to China rose by 36.66% to 19.47 billion, while imports increased to 131.63 billion, widening the deficit. With the United States, India’s exports grew marginally to 87.3 billion, while imports rose to 52.9 billion, reducing the trade surplus. India recorded negative export growth with partners like Netherlands, UK, Singapore, Bangladesh, and Saudi Arabia. Positive export growth was seen with UAE, Germany, Italy, Brazil, Spain, and Vietnam.

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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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Developing countries launched the Borrowers’ Platform at the International Monetary Fund–World Bank Spring Meetings 2026. It is a platform for borrower nations to share experiences, coordinate policies, and collectively raise debt-related concerns. It includes Finance Ministers and Central Bank Governors to strengthen debt management and global negotiation capacity. It is governed by Finance Ministers, supported by technical debt officials for policy inputs. It is not a debt-restructuring mechanism, but a coordination and dialogue forum.

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In April 2026, Pay Point India Network became the first private fintech company to gain membership in the Centralised Payment System (CPS) of the Reserve Bank of India. Earlier, CPS access was limited to banks and institutions like National Payments Corporation of India and Clearing Corporation of India Limited. This move allows Pay Point direct access to payment systems such as Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). It reduces dependence on partner banks for transactions and settlements. The company has also been assigned its own Indian Financial System Code (IFSC), enabling it to hold accounts directly with RBI.

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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 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 Employees Provident Fund Organisation is launching the E-PRAAPTI Portal (EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts). The portal aims to identify, track, and activate inoperative EPF accounts. It uses Aadhaar-based authentication for secure access to old accounts. It enables linking of old EPF accounts with the Unique Account Number (UAN). In the initial phase, access will be member ID-based for easier rollout. Later, it will also help users retrieve accounts even without member ID details.

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National Stock Exchange (NSE) launched Electronic Gold Receipts (EGRs) as a new trading segment. Electronic Gold Receipts (EGRs) are dematerialised securities representing ownership of physical gold, held in Demat (Dematerialised) accounts. The underlying gold is stored in Securities and Exchange Board of India (SEBI)-regulated vaults. A SEBI-registered Vault Manager (VM) ensures safe storage and standardisation. Each EGR is backed by actual gold, ensuring authenticity. Physical gold is deposited and converted into EGR units, which are tradable on exchanges. Investors can reconvert EGRs into physical gold.

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The Reserve Bank of India informed the Supreme Court that 30 banks have been integrated into the UDGAM portal to help legal heirs trace funds of deceased account holders. UDGAM stands for “Unclaimed Deposits-Gateway to Access inforMation” and is an online portal developed by the Reserve Bank of India. The portal was developed in collaboration with Reserve Bank Information Technology Private Limited (ReBIT), Indian Financial Technology and Allied Services (IFTAS), and selected banks. UDGAM enables registered users to search unclaimed deposits and accounts across multiple banks through a single centralized platform.