Business, Economy & Banking Current Affairs MCQs

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Reserve Bank of India issued draft revised guidelines for the Lead Bank Scheme for public comments. Lead Bank Scheme was introduced in December 1969 on the recommendation of the Nariman Committee. The objective of scheme is to coordinate banks and development agencies to increase bank finance to priority and other sectors. It also promotes the role of banks in overall rural development. Under the scheme, one bank is assigned as the Lead Bank for each district. The Lead Bank coordinates credit institutions and Government efforts at district level.

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The Central Bank of the United Arab Emirates has launched the world’s first Sovereign Financial Cloud Services Infrastructure (SFCSI). It is developed with Core42, a subsidiary of G42. The platform ensures data sovereignty, meaning financial data remains within the UAE’s legal and security boundaries. It offers integrated cybersecurity, unified multi-cloud management, and Artificial Intelligence (AI)-based analytics. It allows real-time processing, automation, and predictive risk analysis for licensed financial institutions. It reduces dependence on foreign cloud providers and strengthens regulatory control.

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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.

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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.

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National Bank for Agriculture and Rural Development (NABARD), with Gates Foundation and Dalberg Advisors, launched the National Climate Stack Innovation Challenge to strengthen India’s rural climate resilience. The initiative aims to build a National Climate Stack, integrating fragmented climate datasets into a unified digital platform. It will develop 10–15 year climate hazard forecasting frameworks for risks like heatwaves, floods, droughts, and cyclones affecting agriculture. The project will also create practical dashboards for agriculture, rural finance, and public planning decisions.

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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.

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India became the largest supplier of cotton products (apparel and home textiles) to the United States in 2025, replacing China, according to the United States Department of Agriculture (USDA). US imports of cotton products remained stable at 3.3 million tonnes, close to the 15-year average. Imports from China fell to about 0.5 million tonnes, while India exported around 0.6 million tonnes to the US. High US tariffs on China (10–125%) and diversification of supply chains reduced dependence on China. India benefits from vertically integrated textile supply chains, helping meet traceability standards. The Uyghur Forced Labor Prevention Act (UFLPA) and geopolitical risks also reduced US sourcing from China.

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National Mineral Development Corporation (NMDC) Limited became the first mining company in India to produce 50 million tonnes of iron ore in a single financial year (2025–26). NMDC Limited is a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Steel. It is the largest producer of iron ore in India and a key organisation for mineral resource development. Its aim is to explore, develop, and sustainably use mineral resources in India. It also ensures stable domestic supply of iron ore for the steel industry. NMDC supports India’s goal to expand steel production capacity to 300 million tonnes by 2030.

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Ministry of Statistics and Programme Implementation (MoSPI) released a new Gross Domestic Product (GDP) data series with base year 2022–23, replacing 2011–12. GDP data is crucial for economic policymaking, fiscal planning, investment decisions, and overall macroeconomic analysis in India. The new series includes updated methodologies and improved data collection techniques. Despite improvements, concerns remain over large statistical discrepancies in the data. Questions have also been raised about the accuracy and credibility of real GDP growth estimates.

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The Union Minister highlighted 10 years of Bureau of Indian Standards (BIS) and its role in ensuring quality and standardisation in India. BIS (Bureau of Indian Standards) is the national standards body, established under the BIS Act, 2016. Earlier, it functioned under the BIS Act, 1986, evolved from the Indian Standards Institution (ISI), 1947. The headquarter is located in New Delhi.