Business, Economy & Banking Current Affairs MCQs

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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.

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Assam inaugurated India’s first AI-powered “phygital” banking branch in Guwahati. The branch was launched by Slice Small Finance Bank at GS Road. The AI-enabled branch combines physical and digital banking services through self-service kiosks, paperless cash transactions, and digital onboarding. The initiative aims to strengthen financial inclusion and improve access to banking services for underserved communities and small businesses. The branch will support responsible credit, savings, and digital payment solutions.

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Reserve Bank of India constituted an 8-member expert committee named Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE). The committee will study the impact of quantum technology on the financial sector and recommend measures to strengthen banking security systems. Q-SAFE will examine risks posed by quantum computing to existing cryptographic standards protecting financial transactions and digital infrastructure. The panel will review the financial sector’s cryptographic inventory using a Cryptography Bill of Materials (CBOM).

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Nirmala Sitharaman launched three major digital and cluster-based initiatives during the 37th Foundation Day celebrations of Small Industries Development Bank of India in Mumbai to strengthen the MSME ecosystem. The initiatives include SIDBI MachFin Mart for machinery access and financing, the RRB Co-Lending Portal to improve rural credit flow through Regional Rural Banks, and Modernisation of Rural Enterprises (MoRE) aimed at modernising 10,000 rural micro and artisanal enterprises between 2026 and 2029. MSMEs contribute nearly 30% to India’s GDP, 45% to manufacturing output, over 48% to exports, and provide employment to more than 11 crore people.

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Reserve Bank of India in its Annual Report 2025–26 stated that it is exploring the introduction of a Kill Switch mechanism. A Kill Switch allows a system, device, account, or service to be immediately disabled or blocked during emergencies or suspected fraud. At present, customers can switch domestic and international card transactions on or off. The RBI plans to extend this facility to all digital payment modes, including Unified Payments Interface (UPI) and internet banking.

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Meesho has partnered with Bombay Stock Exchange (BSE) to launch Project Shikhar, an initiative aimed at helping MSMEs and digital businesses become publicly listed companies. The initiative will support high-performing e-commerce sellers in getting listed on the BSE SME platform and gaining access to growth capital. Project Shikhar was launched through a Memorandum of Understanding (MoU) between Meesho and BSE. The programme aims to create a step-by-step roadmap for businesses to transition from informal enterprises to investor-ready public companies.

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The Pension Fund Regulatory and Development Authority has introduced StAR NPS, a new digital onboarding platform for the National Pension System (NPS). The platform has been developed by BSE Technologies Private Limited. It enables fully digital NPS account opening and contribution processing through Points of Presence (PoPs). The platform aims to simplify subscriber onboarding, reduce paperwork, and improve digital access to retirement savings.

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According to the Ministry of Statistics and Programme Implementation (MoSPI), India’s economy is estimated to have grown by 7.8% in Q4 FY2025-26. India’s GDP growth for the full financial year 2025-26 is estimated at 7.7%, higher than the earlier estimate of 7.6%. Real GDP is estimated at ₹323.12 trillion in FY26, while Nominal GDP is estimated to have grown by 8.9%. Gross Value Added (GVA) grew by 7.9% in both Q4 FY26 and the full fiscal year. The Reserve Bank of India has projected 6.6% GDP growth and 5.1% inflation for FY2026-27.

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According to recent report, India slipped to the 7th position globally in stock market valuation, overtaken by South Korea. India’s current stock market capitalization stands at around 4.9 trillion. South Korea and Taiwan have market capitalizations of over 5 trillion, moving ahead of India. Over the last two years, India has fallen three places as Hong Kong, Taiwan, and South Korea surpassed it. Reasons cited for the decline include: continuous foreign investor selling since September 2024, muted corporate earnings and relatively slow progress in AI-driven technology sectors. currently, United States has the world’s largest stock market capitalization.

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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.