Business, Economy & Banking Current Affairs MCQs

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Union Minister of Electronics and Information Technology (MeitY) Shri Ashwini Vaishnaw launched India’s first Tempered Glass Manufacturing Facility for Mobile Devices in Noida. The facility is set up by Optiemus Electronics in collaboration with Corning Incorporated, USA, producing tempered glass under the brand “Engineered by Corning”. It will supply products to both domestic and international markets, supporting Make in India and Atmanirbhar Bharat initiatives. India’s electronics manufacturing has grown six times in 11 years to ₹11.5 lakh crore, with exports over ₹3 lakh crore and 2.5 million employed. The initiative aligns with India’s push for self-reliance in electronics, future chip production, and strengthening research and development capabilities.

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Unity Small Finance Bank (Unity Bank) and BharatPe launched Unity Bank BharatPe Credit Card, India’s first Equated Monthly Instalment (EMI)-driven credit card on the RuPay network. The card allows customers to pay in full or convert spends into EMIs up to 12 months. It has been developed in partnership with National Payments Corporation of India (NPCI). It can be linked to Unified Payments Interface (UPI) for payments at merchants nationwide. It marks a major innovation in India’s digital credit and payments ecosystem.

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Recently, the Prime Minister inaugurated India’s first bamboo-based ethanol plant in Golaghat district, Assam. The Prime Minister also laid the foundation stone for a modern polypropylene plant in the same district. The bamboo-based bioethanol plant aims to boost industrial growth, green energy, renewable power, and create opportunities for farmers and youth. A steady supply of bamboo will be ensured with government support for local farmers in cultivation and procurement. Bamboo, previously restricted, is now allowed for industrial use, benefiting tribal communities in Northeast India.

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The Insurance Regulatory and Development Authority of India (IRDAI) has officially launched the Bima Sugam Portal. The launch was announced by the Bima Sugam India Federation (BSIF) at the Insurance Regulatory and Development Authority of India (IRDAI) headquarters in Hyderabad. It is a unified digital marketplace for insurance bringing insurers, intermediaries, and customers on one platform. The platform unifies life, health, motor, travel, property, agriculture, and commercial insurance on a single digital space. The portal is backed by the Life Insurance Council and the General Insurance Council (GIC).

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The Employees’ Provident Fund Organisation (EPFO), with a corpus over ₹25 lakh crore, announced Shri Vivekanand Gupta, Regional Provident Fund Commissioner, selected for the Public Financial Asset Management (PFAM) Program 2025–26. PFAM is a prestigious initiative jointly organised by the World Bank and Milken Institute. Shri Gupta is the first-ever participant from EPFO and the sole representative from India. Selection was made by Pandit Deendayal Upadhyay National Academy of Social Security (PDUNASS) through an internal nomination process. PFAM, hosted at Bayes Business School, City, University of London, trains senior professionals in capital markets, governance, and strategic asset management.

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On the decade-long celebrations of “Make in India,” the Industrial Park Rating System (IPRS) 3.0 was launched in New Delhi. Industrial Park Rating System (IPRS) 3.0 is developed by the Department for Promotion of Industry and Internal Trade (DPIIT) with support from the Asian Development Bank (ADB). The initiative aims to strengthen India’s industrial ecosystem and enhance competitiveness of industrial infrastructure. The system assesses and benchmarks facilities, infrastructure, and performance of industrial parks across India. IPRS 3.0 provides stakeholders with reliable data, encourages best practices, and supports world-class infrastructure creation.

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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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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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DBS Bank has been named “Safest Bank in Asia 2025”, marking its 17th consecutive year receiving this recognition. The bank also retained 2nd position in the World’s 50 Safest Commercial Banks list. Rankings are based on long-term foreign currency ratings from Fitch, Moody’s, and Standard & Poor’s of the 500 largest global banks. DBS’ recognition reflects solid financial performance, strong risk management, governance, and a robust balance sheet. In turbulent economic conditions—tariffs, interest rate changes, and technological disruptions—DBS provides stability and trust to customers.