Business, Economy & Banking Current Affairs MCQs

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Recently, Japan launched the world’s first yen-pegged stablecoin, named JPYC, marking a major step in digital finance. It is issued by the startup JPYC and is fully backed by Japanese Government Bonds (JGBs) and domestic savings. The coin is fully convertible to the yen and aims for widespread international use. JPYC plans to issue 10 trillion yen ($66 billion) worth of coins in three years. The aim is to promote innovation and reduce transaction costs for startups. Blockchain-based stablecoins enable faster, cheaper, and secure transactions. Dollar-pegged stablecoins currently dominate 99% of global supply, but Japan seeks diversification

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In October 2025, the SBI Foundation, along with University of Agricultural Sciences (UAS), International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), and Agribridge, launched the SMART-CROP project in Hyderabad, Telangana. The project stands for Sustainable Monitoring and Real-time Tracking for Crop Resilience and Optimal Practices. It is a three-year initiative supported under SBI Foundation’s LEAP (Livelihood and Entrepreneurship Accelerator Programme). The project aims to enhance resilience and productivity of over 8,000 smallholder farmers in Karnataka and Telangana. It uses satellite imaging, remote sensing, and Artificial Intelligence/Machine Learning (AI/ML) for real-time crop stress monitoring to prevent climate, pest, and soil-related risks.

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India’s unemployment rate declined to 5.2 per cent in the second quarter of 2025, down from 5.4 per cent in the first quarter. The Ministry of Statistics and Programme Implementation (MoSPI) reported this based on monthly labour force and unemployment data. Rural unemployment rate stood at 4.4 per cent during July to September 2025. Urban unemployment rate was higher at 6.9 per cent in the same period. Female participation in the labour force rose to 33.7 per cent from 33.4 per cent. Labour Force Participation Rate (LFPR) in Current Weekly Status (CWS) increased marginally to 55.1 per cent from 55 per cent. The data reflects gradual improvement in employment and workforce engagement in India.

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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 Reserve Bank of India (RBI) has announced interlinking the Unified Payments Interface (UPI) with fast payment systems of other countries to improve cross-border payments. This move supports the G20 Roadmap to make international remittances cheaper, faster, transparent and easier. RBI and NPCI International Payments Limited (NIPL) are working with the European Central Bank to link UPI with TIPS (TARGET Instant Payment Settlement), the Eurosystem’s instant payment platform. The UPI–TIPS link will enable cross-border money transfers between India and the European Union, benefiting users on both sides.

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The Central Board of Direct Taxes (CBDT) has launched the second “Non-intrusive Usage of Data to Guide and Enable (NUDGE)” initiative to strengthen voluntary compliance regarding foreign assets. The campaign focuses on correct reporting in Schedule Foreign Assets (FA) and Foreign Source Income (FSI) in Income Tax Returns (ITRs). The first NUDGE campaign (November 2024) led 24,678 taxpayers to disclose ₹29,208 crore in foreign assets and ₹1,089.88 crore in foreign-source income. CBDT receives foreign asset data under Common Reporting Standards (CRS) and Foreign Account Tax Compliance Act (FATCA) to identify discrepancies.

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Amaravati is set to become India’s first integrated Financial City, boosting national economic infrastructure. The Financial City will bring major public sector banks and financial institutions into one planned hub. Finance Minister Sitharaman and Andhra Pradesh chief minister N. Chandrababu Naidu laid the foundation stones for several nationalised banks and financial institutions in Amaravati. The project will create over 6,500 direct jobs and accelerate Andhra Pradesh’s economic revival.

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Reserve Bank of India (RBI) has listed State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) for 2025. The three banks continue under the same bucketing structure as the previous year. D-SIBs are banks whose failure can severely affect the financial system and national economy. They are considered “too big to fail” due to size, interconnectedness, and critical banking role. RBI identifies D-SIBs based on systemic importance. D-SIBs must maintain additional CET1 capital above regular norms. Banks are categorized into buckets depending on their systemic criticality.

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Fino Payments Bank became the first payments bank to receive in-principle approval from Reserve Bank of India (RBI) to convert into a Small Finance Bank (SFB). This approval allows Fino to accept larger deposits and offer loans and credit to individuals and small businesses. Fino applied under RBI’s “on tap” licensing guidelines for private sector SFBs. Payments banks can apply for SFB status after completing five years of operations and meeting regulatory norms. Fino started as a payments bank in 2017 and applied nearly two years ago for conversion. Fino plans to start lending within one year after approval. It serves over 16 million customers through more than 2 million merchants.

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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.