Business, Economy & Banking Current Affairs MCQs

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Startup India Fund of Funds 2.0 has been notified with a corpus of ₹10,000 crore to mobilize venture and growth capital for startups. It builds upon the earlier Fund of Funds for Startups (FFS 1.0) launched in 2016 under the Startup India Action Plan to address funding gaps. The fund will invest in SEBI-registered Alternative Investment Funds (AIFs), which will further invest in eligible startups. Small Industries Development Bank of India (SIDBI) acts as the Implementation Agency. The scheme aims to boost innovation, job creation, manufacturing, and support India’s vision of becoming a global innovation hub under Viksit Bharat 2047.

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Reserve Bank of India under its strategy ‘Utkarsh 2029’ (2026–2029 framework for financial sector reforms) plans to advance Project Sa-Mudra (currency management modernisation initiative). It aims to expand CBDC (Central Bank Digital Currency: digital form of sovereign currency) for efficient cross-border payments. The framework rests on six pillars: robust regulations, inclusive finance, competitive markets, effective technology, future-ready organisation, and Global India. RBI will scale up ULI (Unified Lending Interface: digital platform for seamless credit access) to improve credit delivery to underserved sectors.

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China has become India’s largest trading partner in 2025–26, surpassing the United States after four years. India–China bilateral trade reached 151.1 billion, with a record trade deficit of about 112 billion in China’s favour. India’s exports to China rose by 36.66% to 19.47 billion, while imports increased to 131.63 billion, widening the deficit. With the United States, India’s exports grew marginally to 87.3 billion, while imports rose to 52.9 billion, reducing the trade surplus. India recorded negative export growth with partners like Netherlands, UK, Singapore, Bangladesh, and Saudi Arabia. Positive export growth was seen with UAE, Germany, Italy, Brazil, Spain, and Vietnam.

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Atal Pension Yojana crossed 9 crore enrolments (April 2026), with a record 1.35 crore added in Financial Year (FY) 2025–26. It was launched in 2015. It is administered by Pension Fund Regulatory and Development Authority. It is a voluntary, contributory pension scheme targeting unorganized sector workers. It is eligible for Indian citizens aged 18–40 years (excluding income tax payers). It ensures guaranteed pension of ₹1,000–₹5,000 after 60 years of age.

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In April 2026, Pay Point India Network became the first private fintech company to gain membership in the Centralised Payment System (CPS) of the Reserve Bank of India. Earlier, CPS access was limited to banks and institutions like National Payments Corporation of India and Clearing Corporation of India Limited. This move allows Pay Point direct access to payment systems such as Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). It reduces dependence on partner banks for transactions and settlements. The company has also been assigned its own Indian Financial System Code (IFSC), enabling it to hold accounts directly with RBI.

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Union Finance and Corporate Affairs Minister Nirmala Sitharaman launched Mission Jagrook on April 25, 2026. It is a nationwide investor awareness initiative launched in collaboration with Securities and Exchange Board of India. The launch took place during the 38th Foundation Day of SEBI in Mumbai. The mission aims to educate retail investors about market risks and financial frauds, including AI-based deepfakes. It promotes financial literacy and safe investment practices among the public

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The Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency (PaRRVA). PaRRVA aims to enhance transparency and investor protection in financial markets. CARE Ratings Limited has been recognised as the PaRRVA agency. National Stock Exchange of India Limited will act as the PaRRVA Data Centre (PDC). The system allows entities like investment advisers and research analysts to display verified performance data. It helps investors access authentic risk-return information for better decision-making. The pilot phase began in December 2025, and full operations start from May 4, 2026.

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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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The Reserve Bank of India reshuffled portfolios among deputy governors after the appointment of Rohit Jain for a three-year term. Rohit Jain succeeded T. Rabi Sankar and took charge of key departments like corporate strategy, IT, fintech, foreign exchange, and risk monitoring. Currency management and payment systems were reassigned to Shirish Chandra Murmu.
Swaminathan J became the senior-most deputy governor and took over the secretary’s department along with supervision-related functions. Poonam Gupta retained her existing portfolios including monetary policy and economic research. The reshuffle aims to streamline responsibilities and improve coordination within RBI operations.