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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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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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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Anaphalis sahyadrica is a newly discovered plant species from the southern Western Ghats. It belongs to the sunflower family. The species was discovered in high-altitude montane grasslands and shola forest margins. It has been found in regions such as Anamudi and Meesapulimala in Kerala.

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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 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.

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The success of Amazon, the world’s largest e-commerce retailer, is partly attributed to its use of dropshipping practices, which help reduce inventory and warehousing costs while improving operational efficiency. Dropshipping is a retail business model in which sellers accept customer orders without keeping products in stock. After receiving an order, the seller purchases the product from a third-party supplier, who ships it directly to the customer. The seller acts as an intermediary between the supplier and the consumer. The model reduces costs related to warehousing, inventory management, and unsold stock.

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The Government recently announced the launch of the ₹25,016 crore Lakhanpur Coal Gasification Project at Lakhanpur in Jharsuguda district, Odisha. The Lakhanpur Project will be India’s first commercial-scale coal-to-ammonium nitrate facility, producing 2,000 tonnes of ammonium nitrate per day. It is being developed by Bharat Coal Gasification and Chemicals Limited (BCGCL), a joint venture of BHEL (Bharat Heavy Electricals Limited) and CIL (Coal India Limited). The project aims to strengthen energy security, promote import substitution, and support Atmanirbhar Bharat.

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Agricultural and Processed Food Products Export Development Authority (APEDA) has successfully completed the first cohort of its BHARATI programme (Bharat’s Hub for Agritech, Resilience, Advancement and Incubation for Export Innovation). It is an initiative of APEDA. The initiative aims to promote innovation-driven growth in agri-food exports and support India’s target of USD 50 billion agri-food exports by 2030. Startups under the programme achieved early export success, including GI-tagged mangoes, millet-based products, and organic goods to global markets like the UAE, EU, USA, UK, and New Zealand. The programme strengthens India’s agri-export ecosystem through startups, technology, and value addition.