Business, Economy & Banking Current Affairs MCQs

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The Pension Fund Regulatory and Development Authority has introduced StAR NPS, a new digital onboarding platform for the National Pension System (NPS). The platform has been developed by BSE Technologies Private Limited. It enables fully digital NPS account opening and contribution processing through Points of Presence (PoPs). The platform aims to simplify subscriber onboarding, reduce paperwork, and improve digital access to retirement savings.

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According to the Ministry of Statistics and Programme Implementation (MoSPI), India’s economy is estimated to have grown by 7.8% in Q4 FY2025-26. India’s GDP growth for the full financial year 2025-26 is estimated at 7.7%, higher than the earlier estimate of 7.6%. Real GDP is estimated at ₹323.12 trillion in FY26, while Nominal GDP is estimated to have grown by 8.9%. Gross Value Added (GVA) grew by 7.9% in both Q4 FY26 and the full fiscal year. The Reserve Bank of India has projected 6.6% GDP growth and 5.1% inflation for FY2026-27.

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Uzbekistan became the 10th member and shareholder of the New Development Bank (NDB) in June 2026 after ratifying the Articles of Agreement (AoA). It is the first Central Asian country to join the NDB. The NDB plans to support projects in Uzbekistan in sectors such as energy, water management, transport, municipal infrastructure, and social infrastructure. The bank will provide support through financing in national currencies, national procurement systems, and environmental risk assessment mechanisms.

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The success of Amazon, the world’s largest e-commerce retailer, is partly attributed to its use of dropshipping practices, which help reduce inventory and warehousing costs while improving operational efficiency. Dropshipping is a retail business model in which sellers accept customer orders without keeping products in stock. After receiving an order, the seller purchases the product from a third-party supplier, who ships it directly to the customer. The seller acts as an intermediary between the supplier and the consumer. The model reduces costs related to warehousing, inventory management, and unsold stock.

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The Government recently announced the launch of the ₹25,016 crore Lakhanpur Coal Gasification Project at Lakhanpur in Jharsuguda district, Odisha. The Lakhanpur Project will be India’s first commercial-scale coal-to-ammonium nitrate facility, producing 2,000 tonnes of ammonium nitrate per day. It is being developed by Bharat Coal Gasification and Chemicals Limited (BCGCL), a joint venture of BHEL (Bharat Heavy Electricals Limited) and CIL (Coal India Limited). The project aims to strengthen energy security, promote import substitution, and support Atmanirbhar Bharat.

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The RBI has allowed financiers on TReDS (Trade Receivables Discounting System) platforms to access government-backed credit guarantee cover for financed invoices. TReDS is an RBI-regulated electronic platform that helps MSMEs obtain working capital by discounting invoices through competitive bidding. It provides collateral-free and non-recourse financing, improving liquidity for MSMEs and reducing default risk. Registration on TReDS is mandatory for Central Public Sector Enterprises (CPSEs) and corporate buyers with an annual turnover above ₹250 crore.

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The Employees’ Provident Fund Organisation (EPFO) has recently completed a nationwide database consolidation under the CITES project. The Centralised IT-Enabled System (CITES) is a major digital modernization initiative of EPFO. It replaces a decentralised, fragmented legacy system with a centralised national database and automated processing system. The project is managed by EPFO under the Ministry of Labour and Employment. It has been developed by the Centre for Development of Advanced Computing (C-DAC). CITES aims to allow any EPFO office in India to process any member’s request, removing dependency on regional offices.

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The Reserve Bank of India implemented the revamped Integrated Ombudsman Scheme on July 2, 2026. The new scheme replaces the 2021 Integrated Ombudsman Scheme for resolving customer complaints against banks, select NBFCs, PPI issuers, and credit information companies. It follows the “One Nation, One Ombudsman” approach, allowing complaints to be handled regardless of the customer’s or institution’s location. The scheme provides a free, faster, and non-adversarial mechanism for resolving service-related complaints.

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Specialised Investment Funds (SIFs) have crossed ₹13,814 crore in Assets Under Management (AUM) shortly after their introduction. Specialised Investment Funds (SIFs) is a new investment product introduced by the Securities and Exchange Board of India (SEBI). It aims to bridge the gap between mutual funds and Portfolio Management Services (PMS). The framework was introduced through amendments to the SEBI (Mutual Funds) Regulations, 1996. SIF investment strategies are divided into Equity-oriented, Debt-oriented, and Hybrid strategies. Currently, only one strategy per category is permitted for each SIF.

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The Employees’ Provident Fund Organisation (EPFO) has launched the Amnesty Scheme, 2026 to provide a one-time opportunity for establishments operating exempted Provident Fund (PF) Trusts to regularise their status under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. The scheme, introduced by the Ministry of Labour and Employment, will remain open for six months from 29 June 2026. The scheme provides relief by waiving certain eligibility conditions, allowing retrospective regularisation, and withdrawing pending assessments related to PF dues, damages, and interest, subject to prescribed conditions.