Business, Economy & Banking Current Affairs MCQs

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Reserve Bank of India constituted an 8-member expert committee named Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE). The committee will study the impact of quantum technology on the financial sector and recommend measures to strengthen banking security systems. Q-SAFE will examine risks posed by quantum computing to existing cryptographic standards protecting financial transactions and digital infrastructure. The panel will review the financial sector’s cryptographic inventory using a Cryptography Bill of Materials (CBOM).

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Department of Financial Services launched the Unclaimed Assets Portal. The portal is a common platform for searching unclaimed financial assets across the financial ecosystem. It was developed in collaboration with the Public Sector Bank Alliance. The portal allows citizens to search for unclaimed bank deposits, insurance claims, shares, dividends, and mutual funds. The initiative supports the nationwide campaign Your Money Your Right launched by the Department of Financial Services.

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Reserve Bank of India in its Annual Report 2025–26 stated that it is exploring the introduction of a Kill Switch mechanism. A Kill Switch allows a system, device, account, or service to be immediately disabled or blocked during emergencies or suspected fraud. At present, customers can switch domestic and international card transactions on or off. The RBI plans to extend this facility to all digital payment modes, including Unified Payments Interface (UPI) and internet banking.

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The Government of India has revised the base year of the Wholesale Price Index (WPI) from 2011–12 to 2022–23. The revised WPI series and new Producer Price Indices (PPIs) will be released by the Office of Economic Adviser under the Department for Promotion of Industry and Internal Trade. New indices include Output Producer Price Index (OPPI), Input Producer Price Index (IPPI), and Service Producer Price Index (Service PPI). The transition from WPI to PPI aligns India’s statistical framework with international standards recommended by the International Monetary Fund. Both WPI and PPI will be released simultaneously for five years before WPI is phased out.

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India has become the world’s second-largest solar market by overtaking the United States in annual solar capacity additions in 2025. The achievement reflects India’s rapid progress in clean energy and sustainable infrastructure development. India’s solar capacity has increased from 2.8 GW in 2014 to over 155 GW in 2026. This represents a growth of about 5,370% in solar power capacity over the period. The expansion supports India’s renewable energy goals and strengthens energy security while reducing dependence on fossil fuels.

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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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According to recent report, India slipped to the 7th position globally in stock market valuation, overtaken by South Korea. India’s current stock market capitalization stands at around 4.9 trillion. South Korea and Taiwan have market capitalizations of over 5 trillion, moving ahead of India. Over the last two years, India has fallen three places as Hong Kong, Taiwan, and South Korea surpassed it. Reasons cited for the decline include: continuous foreign investor selling since September 2024, muted corporate earnings and relatively slow progress in AI-driven technology sectors. currently, United States has the world’s largest stock market capitalization.

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According to Official Airline Guide (OAG) data, India has become the third-largest domestic aviation market globally. India ranks behind the United States and China in domestic aviation capacity. India surpassed Brazil and Indonesia to achieve this position. The Government has taken several steps to boost the civil aviation sector. These steps include developing international aviation hubs and establishing Maintenance, Repair and Overhaul (MRO) facilities. The Government has also prepared an International Aviation Hub Strategy to strengthen aviation infrastructure.

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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.