Business, Economy & Banking Current Affairs MCQs

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Recently, Indian Farmers Fertilizer Cooperative Limited (IFFCO) announced plans to set up its first overseas nano fertiliser plant in Brazil. IFFCO had earlier launched the world’s first Nano Liquid Urea in 2021 and Nano Di-Ammonium Phosphate (Nano-DAP) in 2023. Nano fertilizers are plant nutrients enclosed in nanomaterials that are 100 nanometres or smaller in size. These fertilizers allow controlled release and slow diffusion of nutrients into the soil.

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Recently, India’s coffee exports reached $1.8 billion, marking a 125 percent rise over the last 11 years due to efforts by the Coffee Board of India. In 2014–15, exports were valued at over $800 million, rising to $1.14 billion in 2022–23 and $1.28 billion in 2023–24. Europe is the top buyer of Indian coffee, with major importers including Italy, Germany, Belgium, Middle East countries, Korea, and Japan. The main coffee-producing states are Karnataka, Kerala, and Tamil Nadu. India ranks seventh in global coffee production with a 3.5 percent share and fifth in exports with a 5 percent share.

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The Ministry of Statistics and Programme Implementation (MoSPI) will conduct India’s first-ever Household Income Survey in 2026, as announced recently. A Technical Expert Group (TEG) led by economist Surjit Bhalla has been formed to guide survey methods, estimation techniques, and best global practices. The survey will measure household income and assess how technology adoption affects wages, aiming to fill key data gaps. Past attempts since the 1950s failed due to unreliable data, with income estimates often lower than consumption and savings combined.

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Recently, to tackle climate change risks, India is focusing on environmental disclosure frameworks like Business Responsibility and Sustainability Reporting (BRSR). BRSR is a mandatory reporting requirement for the top 1,000 listed companies in India. It was introduced by the Securities and Exchange Board of India (SEBI). The aim of BRSR is to promote sustainable business practices among companies. It requires companies to share information about their Environmental, Social, and Governance (ESG) performance in a transparent way.

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Recently, European Union ministers approved Bulgaria to adopt the Euro from January 1, 2026, making it the 21st member of the eurozone. Bulgaria is located in southeastern Europe, occupying the eastern part of the Balkan Peninsula. It shares borders with Romania to the north, Turkey and Greece to the south, North Macedonia to the southwest, and Serbia to the west. It is bounded by the Black Sea on the east. The Balkan Mountains cross the central part of the country.

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From July 16, 2025, the central government made it mandatory for departments and ministries to process payments above ₹75 crore via the e-Kuber system. The aim is to increase transparency and speed up fund reconciliation. This move will help provide real-time data on government spending and improve tracking of payments to vendors and contractors. E-Kuber is the Core Banking Solution (CBS) of the Reserve Bank of India (RBI), launched in 2012. It enables commercial banks to access their RBI accounts anytime and from anywhere.

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Recently, CTBC Bank, the largest private bank in Taiwan, applied to set up an IFSC Banking Unit (IBU) in GIFT City, India. This move strengthens GIFT City’s global appeal as a financial hub. The International Financial Services Centres Authority (IFSCA) is the regulator for IFSC operations in India. IFSCA was established under the IFSCA Act, 2019 as a statutory authority. It regulates financial products, services, and institutions within India’s IFSC. IFSCA is headquartered at GIFT City, Gandhinagar, Gujarat. GIFT IFSC is currently India’s only International Financial Services Centre.

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Life Insurance Corporation of India (LIC) recently signed a Memorandum of Understanding (MoU) with the Department of Rural Development to promote Bima Sakhi Yojana in rural India. The MoU was signed during the financial inclusion conclave ‘Anubhuti’ held in Goa in July 2025. Bima Sakhi Yojana is a performance-based stipendiary scheme launched by Life Insurance Corporation of India (LIC) for women empowerment. Selected women receive training and monthly stipends for three years — ₹7,000 in the first year, ₹6,000 in the second, and ₹5,000 in the third. The scheme aims to appoint two lakh Bima Sakhis across India over the next three years.

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India has become Malaysia’s largest importer of germinated oil palm seeds in 2025. In 2024, India imported 3.03 million tonnes of palm oil, making up 17.9% of Malaysia’s total exports. India aims to expand palm oil cultivation to 1 million hectares by 2025-26 under the National Mission on Edible Oils-Oil Palm (NMEO-OP). Goal is to produce 2.8 million tonnes of crude palm oil by 2029-30. Currently, India has 3.7 lakh hectares under palm cultivation, focusing on northeast and island regions. Malaysia offers to collaborate if India provides land for local palm oil production.

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The Union Minister for Road Transport and Highways announced that India became the third-largest automobile industry in the world with a market size of ₹22 lakh crore. Globally, the United States ranks first with ₹78 lakh crore, followed by China with ₹49 lakh crore. India’s automobile sector contributes 7.1% to the country’s Gross Domestic Product (GDP) and 49% to manufacturing GDP. It is a key driver of India’s manufacturing and economic growth. In FY25, two-wheelers dominated the domestic market with 76.57% share, while passenger cars held 16.80%.