Business, Economy & Banking Current Affairs MCQs

Notes:
As per recent report by Indian government, India surpassed Japan to become the world’s fourth-largest economy with Gross Domestic Product (GDP) of USD 4.18 trillion. India is expected to overtake Germany to become the third-largest economy by 2030 with projected GDP of USD 7.3 trillion. India remains the world’s fastest-growing major economy despite global trade uncertainties. Real GDP grew 8.2% in Quarter 2 of 2025–26, rising steadily from previous quarters. Growth is driven mainly by strong private consumption and domestic demand. The United States (US) ranks first and China second in global economy size.

Notes:
Government of India launched the Market Access Support (MAS) Intervention under the Export Promotion Mission (EPM). Market Access Support (MAS) is implemented under the NIRYAT DISHA sub-scheme of EPM, approved by the Union Cabinet on 12 November 2025. It aims to strengthen international market access for Indian exporters, especially MSMEs, first-time exporters, and priority sector firms. Export Promotion Mission (EPM) is jointly run by Department of Commerce, Ministry of MSME, Ministry of Finance, Indian Missions abroad, Export Promotion Councils (EPCs), Commodity Boards, and industry associations.

Notes:
A Sakthivel has been appointed as the Chairman of the Apparel Export Promotion Council (AEPC), marking his fifth term leading the organisation. Apparel Export Promotion Council (AEPC) was established in 1978. It was set up under the Foreign Trade (Development and Regulation) Act, 1992. AEPC is the official body representing apparel exporters in India. It functions under the Ministry of Textiles, Government of India. Its main role is to promote and support exports of Indian garments and textiles globally.

Notes:
A United Nations (UN) report projects India’s GDP growth at 6.6% in 2026, while global growth is expected to slow to 2.7% due to geopolitical risks and policy uncertainty. The report notes that strong demand in major markets may partially offset the impact of US tariff hikes on India. The UN lowered India’s growth estimate from 7.4% but it aligns with the International Monetary Fund (IMF) forecast, identifying India as the only major economy expected to grow above 6% in 2025–26. Global growth faces risks of a prolonged slowdown, insufficient for broad-based development, leaving many countries and communities behind.

Notes:
Karnataka Bank won the Best Fintech & DPI (Digital Public Infrastructure) Adoption award at the Indian Banks’ Association (IBA) Banking Technology Awards. It was adjudged runner-up in Best Tech Talent category. The bank also received Special Mention for Best Technology Bank, Best Digital Financial Inclusion, and Best Digital Sales. The recognition highlights the bank’s focus on digital innovation, technology talent, and customer-centric banking solutions. Karnataka Bank reaffirmed its commitment to expanding digital capabilities to meet evolving customer needs.

Notes:
According to SEBI (Securities and Exchange Board of India), India ranks first globally in the number of IPOs and is among the top three countries by value of IPOs. In the first nine months of the current financial year, 311 IPOs raised ₹1.7 trillion, while total equity mobilisation exceeded ₹3.8 trillion. Market capitalisation-to-GDP ratio increased from 69% in FY16 to over 130%, reflecting deeper investor participation. The number of investors grew from 43 million in FY20 to 137 million, with unique mutual fund investors exceeding 59 million.

Notes:
India’s eight core infrastructure industries grew 3.7% in December 2025, driven by higher production of cement, steel, coal, electricity, and fertilisers. The Index of Eight Core Industries (ICI) rose to 175.7 points from 169.4 points in December 2024. Core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity, accounting for 40.27% of the Index of Industrial Production (IIP).

Notes:
The Engineering Export Promotion Council of India (EEPC India) demanded lower income tax for non-corporate manufacturing Micro, Small and Medium Enterprises (MSMEs) and faster Goods and Services Tax (GST) refunds in the Union Budget. EEPC India is the premier trade and investment promotion body for India’s engineering sector. It is sponsored by the Ministry of Commerce and Industry and advises the Government of India. It acts as an interface between the engineering industry and the government.

Notes:
Data under the Reserve Bank of India (RBI) Liberalised Remittances Scheme (LRS) shows outward remittances by Indians fell to a two-year low of 1.94 billion US dollars in November 2025 due to reduced spending on foreign studies. Liberalised Remittances Scheme (LRS) operates under the Foreign Exchange Management Act (FEMA) 1999 to regulate outward remittances. It allows resident individuals, including minors, to remit up to 250,000 US dollars per financial year without prior approval. The scheme was introduced in 2004 and applies only to individuals, not companies or Hindu Undivided Families (HUFs).

Notes:
The Pension Fund Regulatory and Development Authority (PFRDA) has constituted the Strategic Asset Allocation and Risk Governance (SAARG) Committee to modernise the investment framework of the National Pension System (NPS). It is a high-level committee of investment experts tasked with reviewing and recommending reforms for both government and non-government NPS sectors. The objective is to strengthen the long-term investment architecture of NPS through better diversification, improved risk management, and expanded investment choices for subscribers.