Business, Economy & Banking Current Affairs MCQs

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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.

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Kar Saathi is an Artificial Intelligence (AI)-enabled taxpayer assistance platform launched by the Income Tax Department. It is a digital chatbot providing a one-stop solution for direct tax services like return filing, compliance, and grievance redressal. It supports implementation of the Income Tax Act, 2025 by ensuring smooth transition and better taxpayer experience. It offers 24×7 assistance for queries on Income Tax Return (ITR), deductions, refunds, notices, and forms.

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The National Statistics Office under Ministry of Statistics and Programme Implementation launched the first-ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) in April 2026. The survey covers all States and Union Territories with reference period FY 2024–25 and aims to build a comprehensive database of the incorporated services sector. It uses the GSTN database as the sampling frame and will survey around 1.21 lakh enterprises. ASISSE focuses on corporate entities registered under the Companies Act (1956/2013) and the Limited Liability Partnership Act, 2008. It covers key service sectors such as trade, transport, hospitality, IT, education, and health, which together form a major part of India’s economy.

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India’s Wholesale Price Index (WPI)-based inflation stood at 1.64% in March 2026, as per provisional government data. The data was released by the Department for Promotion of Industry and Internal Trade. On a month-on-month basis, WPI declined by 0.06%, indicating easing price pressures. Primary articles index stood at 197.3, showing mixed trends with a monthly decline but positive year-on-year growth. WPI reflects producer-level price changes, indicating supply-side inflation in the economy. The index is compiled using data from institutional sources and manufacturing units across India. WPI data is released monthly (around 14th), with April 2026 data scheduled for May 14, 2026.

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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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The Financial Intelligence Unit India signed a Memorandum of Understanding (MoU) with the Pension Fund Regulatory and Development Authority to strengthen coordination against financial crimes. The MoU aims to enhance information sharing, training, and outreach for entities regulated by PFRDA. It focuses on improving Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) capabilities. The Financial Intelligence Unit (FIU), established in 2004 under the Ministry of Finance. FIU-IND acts as the national agency for analysing suspicious financial transactions, while PFRDA regulates India’s pension sector

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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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Developing countries launched the Borrowers’ Platform at the International Monetary Fund–World Bank Spring Meetings 2026. It is a platform for borrower nations to share experiences, coordinate policies, and collectively raise debt-related concerns. It includes Finance Ministers and Central Bank Governors to strengthen debt management and global negotiation capacity. It is governed by Finance Ministers, supported by technical debt officials for policy inputs. It is not a debt-restructuring mechanism, but a coordination and dialogue forum.

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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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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