Business, Economy & Banking Current Affairs MCQs

Notes:
Atal Pension Yojana crossed 9 crore enrolments (April 2026), with a record 1.35 crore added in Financial Year (FY) 2025–26. It was launched in 2015. It is administered by Pension Fund Regulatory and Development Authority. It is a voluntary, contributory pension scheme targeting unorganized sector workers. It is eligible for Indian citizens aged 18–40 years (excluding income tax payers). It ensures guaranteed pension of ₹1,000–₹5,000 after 60 years of age.

Notes:
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.

Notes:
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.

Notes:
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.

Notes:
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.

Notes:
RAINMUMBAI is India’s first SEBI-approved exchange-traded weather derivatives contract launched by National Commodity and Derivatives Exchange. The contract is designed to help businesses hedge losses caused by unpredictable weather and monsoon variability. Unlike traditional insurance, weather derivatives are settled using actual weather data rather than physical damage assessments, enabling faster payouts. The product was developed in collaboration with Indian Institute of Technology Bombay using Mumbai rainfall data. Rainfall data will be provided by the India Meteorological Department from Santacruz and Colaba stations.

Notes:
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.

Notes:
The Government of India has revised the base year of the Wholesale Price Index (WPI) from 2011–12 to 2022–23. The revised WPI series and new Producer Price Indices (PPIs) will be released by the Office of Economic Adviser under the Department for Promotion of Industry and Internal Trade. New indices include Output Producer Price Index (OPPI), Input Producer Price Index (IPPI), and Service Producer Price Index (Service PPI). The transition from WPI to PPI aligns India’s statistical framework with international standards recommended by the International Monetary Fund. Both WPI and PPI will be released simultaneously for five years before WPI is phased out.

Notes:
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.

Notes:
India has become the world’s second-largest solar market by overtaking the United States in annual solar capacity additions in 2025. The achievement reflects India’s rapid progress in clean energy and sustainable infrastructure development. India’s solar capacity has increased from 2.8 GW in 2014 to over 155 GW in 2026. This represents a growth of about 5,370% in solar power capacity over the period. The expansion supports India’s renewable energy goals and strengthens energy security while reducing dependence on fossil fuels.