Business, Economy & Banking Current Affairs MCQs

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Khanij Bidesh India Limited (KABIL) has received environmental clearance from the Government of Argentina for deep exploration of five brine-based lithium blocks. This marks a significant step in securing critical minerals, especially lithium, which is essential for batteries and clean energy technologies. Khanij Bidesh India Limited (KABIL) is a joint venture of three Central Public Sector Enterprises—National Aluminium Company Limited (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL)—with a shareholding ratio of 40:30:30.

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Unified Payments Interface (UPI) has completed 10 years, transforming India into a real-time digital payment economy. The network expanded from 216 banks in 2021 to 691 banks by January 2026, creating a highly interoperable payment ecosystem. It has expanded internationally, being operational or linked with countries like UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar. It is operated by the National Payments Corporation of India, which regulates and manages retail payment systems in India.

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Life Insurance Corporation of India launched MyLIC App (for customers) and Super Sales Saathi App (for intermediaries) to enhance digital insurance services. LIC manages over 260 million policies, highlighting its vast insurance footprint in India. MyLIC App offers a 360° digital platform with services like premium payment, policy tracking, e-KYC (electronic Know Your Customer), claims support, and paperless loans. It enables users to revive lapsed policies and purchase insurance online seamlessly. Super Sales Saathi App provides digital tools for agents, including performance dashboards, AI-based insights, and real-time tracking.

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The International Monetary Fund (World Economic Outlook, April 2026) ranked India as the 6th largest economy in 2025–26. India’s GDP is estimated at 3.92 trillion, behind the United Kingdom (4 trillion) and Japan ($4.44 trillion). The decline in rank is statistical, not due to weak growth, as India remains one of the fastest-growing economies. The main reason is rupee depreciation, since GDP is measured in US dollar terms, reducing India’s relative size. A revision of GDP base year (2011–12 to 2022–23) also lowered nominal GDP estimates. India is projected to regain 4th position by 2027 and surpass Japan by 2028, becoming the 3rd largest economy by 2031.

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ITC Limited became the first Indian company to receive the Farm Sustainability Assessment (FSA) 3.0 certification. The certification is developed by the Sustainable Agriculture Initiative Platform. It validates sustainable, traceable, and ethically sourced farming practices for wheat and paddy. The initiative covers more than 22,000 acres and 3,500 farmers across Uttar Pradesh and Bihar through 70+ Farmer Producer Organizations (FPOs). It promotes soil health, efficient resource use, and higher farmer incomes.

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Department for Promotion of Industry and Internal Trade data shows that Singapore was the top source of FDI (Foreign Direct Investment) equity inflows into India during April–December FY26, contributing 17.6 billion (37%). The United States (16%) and Mauritius (10%) were the next major contributors, followed by Japan and the UAE. India received a total of 47.87 billion in FDI equity inflows during this period. The top sectors attracting FDI were Computer Software & Hardware (22%) and Services (Financial, Banking, R&D) at 18%. Among states, Maharashtra received the highest inflows, followed by Karnataka.

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The Employees Provident Fund Organisation is launching the E-PRAAPTI Portal (EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts). The portal aims to identify, track, and activate inoperative EPF accounts. It uses Aadhaar-based authentication for secure access to old accounts. It enables linking of old EPF accounts with the Unique Account Number (UAN). In the initial phase, access will be member ID-based for easier rollout. Later, it will also help users retrieve accounts even without member ID details.

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The Unified Payments Interface completed 10 years (2016–2026), becoming the world’s largest real-time payments platform. It was launched by the National Payments Corporation of India under the supervision of the Reserve Bank of India. Transaction volume surged from 2 crore (2016–17) to over 24,162 crore (2025–26). UPI accounts for nearly 49% of global real-time payment transactions. The International Monetary Fund recognised UPI as the world’s largest real-time payment system.

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National Stock Exchange (NSE) launched Electronic Gold Receipts (EGRs) as a new trading segment. Electronic Gold Receipts (EGRs) are dematerialised securities representing ownership of physical gold, held in Demat (Dematerialised) accounts. The underlying gold is stored in Securities and Exchange Board of India (SEBI)-regulated vaults. A SEBI-registered Vault Manager (VM) ensures safe storage and standardisation. Each EGR is backed by actual gold, ensuring authenticity. Physical gold is deposited and converted into EGR units, which are tradable on exchanges. Investors can reconvert EGRs into physical gold.

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India has become the second-largest trading partner of Bangladesh, overtaking the United States. According to the Bangladesh Bureau of Statistics, India accounted for 8.47% of Bangladesh’s total trade in February, valued at Tk 123.28 billion. The United States followed closely with an 8.46% share worth Tk 123.17 billion. The development reflects Bangladesh’s increasing economic dependence on regional trade and imports from neighbouring countries.