Business, Economy & Banking Current Affairs MCQs

Notes:
The Pension Fund Regulatory and Development Authority (PFRDA) launched the NPS Swasthya Pension Scheme (NSPS) as a pilot project. It is introduced as a Proof of Concept under the Regulatory Sandbox Framework of PFRDA. The scheme links health-related financial support with the existing National Pension System (NPS). It aims to support out-patient and in-patient medical expenses along with pension savings. It will operate as a sector-specific contributory pension scheme under the Multiple Scheme Framework of NPS. The scheme is voluntary and open to Indian citizens for a limited period.

Notes:
The Ministry of Statistics and Programme Implementation (MoSPI) launched the PAIMANA portal for monitoring major infrastructure projects. PAIMANA stands for Project Assessment, Infrastructure Monitoring and Analytics for Nation-building. It is a flagship digital initiative to track Central Sector Infrastructure Projects costing ₹150 crore and above. The portal acts as a centralized national repository for infrastructure project data. It improves data accuracy, transparency, and operational efficiency through web-based reporting.

Notes:
Kotak Mahindra Bank became the first custodian in India to issue a Foreign Portfolio Investor (FPI) licence using only electronic signatures. It also completed the entire FPI account-opening process digitally, without any physical documents. The bank has already issued two FPI licences fully based on digitally signed papers. This marks a major step towards fully digital onboarding for overseas investors in India. The move follows the Securities and Exchange Board of India (SEBI) operationalising a unified digital workflow in January 2026. The initiative improves ease of doing business, speeds up compliance, and enhances transparency for foreign investors.

Notes:
Recently, the Union Cabinet chaired by the Prime Minister approved the establishment of the Startup India Fund of Funds 2.0 (Startup India FoF 2.0). The Fund has been launched under the Startup India initiative to promote innovation and entrepreneurship across the country. It aims to accelerate the next phase of India’s startup ecosystem by mobilising long-term domestic capital, strengthening the venture capital framework, and supporting innovation-led enterprises. The scheme adopts a targeted and segmented funding approach to support deep-tech and technology-driven innovative manufacturing sectors that require patient and long-term capital investment.

Notes:
Nagaland recorded the highest Goods and Services Tax growth in India at 37 percent, above the national average of 6.8 percent till December 2025. The achievement was announced by Governor Ajay Kumar Bhalla during the Budget Session of the Nagaland Assembly. Goods and Services Tax collections reached ₹987.38 crore by 31 January 2026. This exceeded the 2025–26 target of ₹949 crore. The figures show strong revenue performance and robust financial growth in the State.

Notes:
L&T Finance Ltd has launched a specialised programme called “Spoorthi” for women entrepreneurs to provide targeted financial support. The programme offers extended loan tenors up to 25 years for house property loans or Loan Against Property (LAP) for business expansion and working capital. Industrial LAP tenors of up to 12 years are also available, with enhanced eligibility norms, including higher debt-to-income ratios for greater financial flexibility. L&T Finance aims to leverage women borrowers’ strong repayment discipline to scale businesses and secure personal assets, promoting an inclusive financial ecosystem.

Notes:
Bank of Baroda raised ₹10,000 crore by issuing long-term green infrastructure bonds, becoming the first bank in India to issue domestic green bonds. The 7-year bond was issued on the National Stock Exchange of India (NSE) through the Electronic Book Provider (EBP) platform. The issue had a ₹5,000 crore base size with a ₹5,000 crore greenshoe option, and received bids worth ₹16,415 crore, showing strong investor demand. The bank fixed a 7.1% annual coupon rate despite market volatility.

Notes:
Tamil Nadu has become India’s top textile-exporting state, with shipments worth USD 7,997.17 million in 2024-25, a 29.12% increase over the last four years. In 2020-21, Tamil Nadu’s textile exports were USD 6,193 million, showing consistent growth under the Dravidian Model government, led by Chief Minister M. K. Stalin. The state now contributes 21.84% of India’s total textile exports, outpacing Gujarat (USD 5,646.01 million) and Maharashtra (USD 3,831.29 million). Data is reported through the National Import-Export Record for Yearly Analysis of Trade, providing real-time comprehensive foreign trade data.

Notes:
Project Insight (PI) is an AI-driven tax administration system in India that tracks financial transactions and detects tax evasion. It is implemented by the Income Tax Department (ITD), Ministry of Finance, Government of India. It aims to enhance voluntary tax compliance by nudging taxpayers to report accurate income and strengthen tax enforcement by identifying high-risk evasion cases.

Notes:
PRARAMBH 2026 (Policy Reform and Responsible Action for Mission Viksit Bharat) was launched by the Ministry of Finance as a nationwide awareness campaign on the Income Tax Act, 2025. The initiative aims to familiarise citizens with provisions of the new tax law, which will come into effect from 1 April 2026, through a multi-channel outreach including print, TV, radio, digital and social media. It offers taxpayer-centric resources such as guidance notes, brochures, tutorial videos, FAQs, and public engagement activities like the MyGov Quiz. The campaign adopts a multilingual approach, with materials released in 10 regional languages along with English and Hindi for wider accessibility.