Business, Economy & Banking Current Affairs MCQs

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Indian travelers can now use Unified Payments Interface (UPI) apps to make purchases in Qatar, the eighth country to adopt UPI for international payments. Qatar Duty Free is the first merchant to accept QR code-based UPI transactions. NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and Japanese gateway NETSTARS enabled UPI at select point-of-sale (POS) terminals. Other countries with UPI access include Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and United Arab Emirates. The move promotes a globally interoperable payment network and cross-border digital transactions.

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Union Finance Minister Nirmala Sitharaman launched the nationwide ‘Aapki Punji Aapka Adhikar’ campaign from Gandhinagar, Gujarat. The campaign aims to ensure speedy settlement of unclaimed financial assets across banks, insurance companies, pension funds, stock, and mutual fund companies. It focuses on returning deposits to legitimate claimants and bridging the gap between financial institutions and citizens. Currently, ₹1,82,000 crore of unclaimed assets lie with financial institutions nationwide. Certificates were awarded to claimants confirming the retrieval of their unclaimed assets. The initiative promotes financial empowerment and awareness among citizens.

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The Maharashtra government launched the E-Bond system for import and export businesses, replacing traditional stamp paper bonds in October 2025. Revenue Minister Chandrashekhar Bawankule announced the system in Mumbai. The system aims to simplify trade procedures, speed up transactions, and enhance transparency in commercial operations. Maharashtra becomes the 16th state in India to adopt digital bonds. The move represents a major step in modernising trade administration. E-Bonds reduce paperwork and make processes faster, secure, and more efficient. The initiative supports ease of doing business and promotes digital adoption in trade.

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Around 10 Indian marine and saline fish and shrimp varieties are soon to receive the Marine Stewardship Council (MSC) certification. Marine Stewardship Council (MSC) certification is an international non-profit organisation that sets science-based standards for sustainable fishing and seafood traceability. Its certification recognises and rewards sustainable fishing practices to promote a sustainable seafood market. The certification is based on independent third-party assessments focusing on stock health, environmental impact, and effective management. It is voluntary, open to all fisheries regardless of location, size, or fishing gear. Astamudi clam (Paphia malabarica) was India’s first MSC-certified fishery.

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The U.S. president recently signed a proclamation raising the annual H-1B visa fee to $100,000. This sudden hike created panic-driven demand and price rise, showing a classic case of “Fomoflation.” Fomoflation means inflation caused by Fear Of Missing Out (FOMO) and market pressure. It happens when people buy excessively due to fear of scarcity, creating artificial demand. Prices then rise faster than actual economic factors justify. Unlike normal inflation from macroeconomic causes, fomoflation comes from behavioral psychology. Social media often amplifies it. For example, During festivals, fear of shortage raises prices of pulses and cooking oil even with enough supply.

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Unified Payments Interface (UPI) usage intensity is highest in Telangana, followed by Karnataka, Andhra Pradesh, Delhi, and Maharashtra, as per a Reserve Bank of India (RBI) bulletin. The study used PhonePe transaction data, covering 58% of UPI volume and 53% of total transaction value, as a proxy for UPI intensity. The rise of UPI is reducing cash demand, reflected in declining ATM cash withdrawals as a percentage of GDP. Most peer-to-merchant (P2M) transactions are low-value, under ₹500, and the average ticket size is decreasing. High UPI usage is linked to urban centres, economic hubs, and migration-driven employment.

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In October 2025, Lxme, India’s leading financial platform for women, has launched LxmePay, the country’s first Unified Payments Interface (UPI) exclusively for women. LxmePay aims to turn everyday transactions into smart financial opportunities for women. While UPI is fast and convenient, it often leads to overspending and loss of tracking. LxmePay solves this by offering Digital Gold Rewards, earning gold on every transaction, including money received from other users. Features include Expense Tracker, Bill Payments, and exclusive deals on women’s brands for seamless money management. It empowers women to spend smartly, budget, save, and invest.

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The Reserve Bank of India (RBI) has launched HaRBInger 2025 – Innovation for Transformation, its fourth global hackathon. It aims to use emerging technologies to create innovative, secure, and user-friendly financial solutions. The main goal is to protect customer identity and build trust in the financial system. The theme for HaRBInger 2025 is “Secure Banking: Powered by Identity, Integrity, and Inclusivity.”

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The Reserve Bank of India (RBI) released the 2024-25 census on Foreign Liabilities and Assets (FLA) on October 29, 2025. The census covered Indian entities’ cross-border assets and liabilities. Out of 45,702 entities, 41,517 reported Foreign Direct Investment (FDI) and Overseas Direct Investment (ODI) in their March 2025 balance sheets. The United States and Singapore together contributed over one-third of India’s total FDI. Other major contributors were Mauritius, the United Kingdom, and the Netherlands. Total FDI stood at ₹68.76 lakh crore, higher than ₹61.88 lakh crore in 2023–24. The share of FDI was 20 percent from the United States, 14.3 percent from Singapore, 13.3 percent from Mauritius, 11.2 percent from the United Kingdom, and 9 percent from the Netherlands.

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On November 7, 2025, National Securities Depository Limited (NSDL) launched a revamped Foreign Portfolio Investor (FPI) portal and a new Foreign Venture Capital Investor (FVCI) portal in Mumbai. The portals were inaugurated by Dr. Ruchi Chojer, Executive Director, Securities and Exchange Board of India (SEBI), during NSDL’s 9th Designated Depository Participants Conference. The unified digital platform merges FPI and FVCI registrations into a single interface, replacing earlier multiple logins and manual procedures. FPI refers to foreign entities investing in Indian equities, bonds, and mutual funds, while FVCI focuses on venture capital and unlisted Indian startups. The initiative aims to simplify compliance, enhance transparency, and ease market access for global investors.