Business, Economy & Banking Current Affairs MCQs

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Recently, India’s electronics sector gained momentum through the Electronics Development Fund (EDF) launched on 15 February 2016. EDF promotes innovation in electronics, nano-electronics, and Information Technology (IT). It works as a Fund of Funds, investing in Daughter Funds like angel and venture funds that support technology startups. Electronics Development Fund’s (EDF’s) anchor investor is Ministry of Electronics and Information Technology (MeitY).

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The Ministry of Statistics and Programme Implementation launched the National Industrial Classification (NIC) 2025 during the 75th anniversary of the National Sample Survey Office (NSSO) in Udaipur. NIC-2025 is a new six-digit system replacing the five-digit NIC-2008 to classify all economic activities in India. It updates earlier versions from 1962 to reflect India’s changing economy and aligns with the United Nations International Standard Industrial Classification (ISIC) Revision-5. It adds new sectors like cloud services, blockchain, renewable energy, waste management, platform services, and AYUSH. It also includes new classes for logistics, real estate, food services, and environmental remediation.

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The Cabinet Committee on Economic Affairs approved the CoalSETU window, a new policy mechanism for long-term coal linkages. CoalSETU is added to the Non-Regulated Sector (NRS) Linkage Auction Policy of 2016. Unlike existing NRS linkages reserved for specific sectors (cement, sponge iron, aluminium, steel, captive power), any domestic industrial consumer can now participate. Coking coal is excluded and traders cannot bid under this window. Linkage holders can use coal for own consumption, washing, or export, but resale within India is prohibited. Export is allowed for up to 50% of allocated coal, and distribution among group entities is permitted.

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Union Minister for Rural Development and Agriculture & Farmers Welfare, Shri Shivraj Singh Chauhan, introduced the Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) or VB–G RAM G Bill, 2025, in the Lok Sabha. The Bill provides a statutory guarantee of 125 days of wage employment every year for rural households. It aims to ensure welfare of the poor and promote comprehensive village development in line with Mahatma Gandhi’s vision of self-reliant and developed villages. The central government has committed over ₹95,000 crore for this initiative. Panchayats will be graded, with additional work assigned to underdeveloped or underperforming panchayats to ensure balanced development.

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Oman introduced its first polymer one-rial banknote, to start circulation on 11 January 2026. It is issued by the Central Bank of Oman, replacing traditional cotton-based notes with durable polymer for longer life and better security. The note size is 145 × 76 mm and showcases Oman’s cultural and economic identity. Front side features the Oman Botanic Garden, symbolising commitment to natural heritage. Rear side shows Sayyid Tariq bin Taimur Cultural Complex, Duqm Port and Refinery, highlighting cultural and economic progress. The polymer notes will circulate alongside existing one-rial notes and remain legal tender.

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The Global Cement and Concrete Association (GCCA) India–NCB Carbon Uptake Report was released on the 63rd Foundation Day of the National Council for Cement and Building Materials (NCB). NCB was established in 1962 as India’s apex research and development organisation for the cement and building materials sector. Its main objective is to promote scientific research and innovation related to cement manufacturing and building materials. NCB functions under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.

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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.

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The Agricultural and Processed Food Products Export Development Authority (APEDA) launched an initiative to support agri-food and agri-tech startups. APEDA is a statutory body under the Government of India, established by the APEDA Act in December 1985. It replaced the Processed Food Export Promotion Council (PFEPC) and works under the Ministry of Commerce and Industry. The objective is to develop and promote the export of scheduled products like fruits, vegetables, meat, poultry, dairy, confectionery, biscuits, bakery products, honey, and jaggery.

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Tripura Gramin Bank became the first Gramin Bank in India to introduce a solar-powered ATM van, promoting sustainable and inclusive banking. The initiative earned the bank the prestigious SKOCH Silver Award for innovative governance practices. The bank operates around 150 branches across remote areas of Tripura, supporting financial inclusion. The solar-powered ATM van improves banking access in rural and electricity-scarce regions. The initiative was inaugurated by Union Finance Minister Nirmala Sitharaman on 21 July 2023. The bank currently runs three such eco-friendly ATM vans.

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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.