Business, Economy & Banking Current Affairs MCQs

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Reserve Bank of India proposed removing due diligence for onboarding Micro, Small and Medium Enterprises (MSMEs) on Trade Receivables Discounting System (TReDS) platforms to enhance ease of doing business. Trade Receivables Discounting System (TReDS) is an electronic platform enabling financing/discounting of MSME trade receivables via multiple financiers. The platforms are regulated by the Reserve Bank of India (RBI). Its objective is to ensure quicker payments and improved working capital for MSMEs.

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Saraswat Co-operative Bank Limited has become India’s largest Urban Co-operative Bank (UCB) after crossing ₹1 lakh crore total business in FY 2025–26. This milestone highlights the bank’s strong growth trajectory and leadership in the co-operative banking sector. The achievement is driven by an expanding customer base, improved services, and enhanced financial performance. It reflects the increasing importance of Urban Co-operative Banks (UCBs) in India’s banking ecosystem. The development underscores growing trust and efficiency in cooperative banking institutions.

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Reserve Bank of India has released a report titled “Exploring Safeguards in Digital Payments to Curb Frauds” to address rising digital payment scams. It proposes a cooling-off period of one hour for transfers above ₹10,000 to new beneficiaries, allowing users to cancel fraudulent transactions. A trusted person mechanism is suggested, where high-value transactions above ₹50,000 by senior citizens or persons with disabilities may require secondary approval. A kill switch facility is proposed to enable users to instantly disable all payment channels during emergencies. Whitelisting of beneficiaries would allow users to pre-approve trusted payees and avoid additional verification or delays.

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Under the Startup India initiative, more than 55,200 startups were recognized in FY 2025–26, the highest ever in a single year, taking the total to more than 2.23 lakh startups and generating more than 23.36 lakh jobs. Startup growth increased by 51.6% year-on-year, while job creation rose by 36.1%, showing strong expansion of India’s startup ecosystem. Around 48% of startups (more than 1.07 lakh) have at least one woman director or partner, indicating rising gender inclusion.
Startups are now present across all States and Union Territories, with Maharashtra having the highest number of recognized startups (more than 38,660), followed by Karnataka, Uttar Pradesh, Delhi, and Gujarat.

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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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National Stock Exchange (NSE) launched Electronic Gold Receipts (EGRs) as a new trading segment. Electronic Gold Receipts (EGRs) are dematerialised securities representing ownership of physical gold, held in Demat (Dematerialised) accounts. The underlying gold is stored in Securities and Exchange Board of India (SEBI)-regulated vaults. A SEBI-registered Vault Manager (VM) ensures safe storage and standardisation. Each EGR is backed by actual gold, ensuring authenticity. Physical gold is deposited and converted into EGR units, which are tradable on exchanges. Investors can reconvert EGRs into physical gold.

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The Reserve Bank of India reshuffled portfolios among deputy governors after the appointment of Rohit Jain for a three-year term. Rohit Jain succeeded T. Rabi Sankar and took charge of key departments like corporate strategy, IT, fintech, foreign exchange, and risk monitoring. Currency management and payment systems were reassigned to Shirish Chandra Murmu.
Swaminathan J became the senior-most deputy governor and took over the secretary’s department along with supervision-related functions. Poonam Gupta retained her existing portfolios including monetary policy and economic research. The reshuffle aims to streamline responsibilities and improve coordination within RBI operations.

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The Reserve Bank of India informed the Supreme Court that 30 banks have been integrated into the UDGAM portal to help legal heirs trace funds of deceased account holders. UDGAM stands for “Unclaimed Deposits-Gateway to Access inforMation” and is an online portal developed by the Reserve Bank of India. The portal was developed in collaboration with Reserve Bank Information Technology Private Limited (ReBIT), Indian Financial Technology and Allied Services (IFTAS), and selected banks. UDGAM enables registered users to search unclaimed deposits and accounts across multiple banks through a single centralized platform.

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The Department of Financial Services approved Viability Plan 2.0 for Regional Rural Banks to improve financial sustainability and operational efficiency. The plan will be implemented for three years from 2025–26 to 2027–28 under the Ministry of Finance. It aims to strengthen governance reforms, improve profitability, enhance operational excellence, and ensure long-term competitiveness of Regional Rural Banks. Viability Plan 1.0 was introduced in Financial Year 2022–23 focusing on credit expansion, Non-Performing Asset reduction, digital adoption, and cost rationalization. Viability Plan 2.0 includes 30 performance parameters to monitor the functioning of all 28 Regional Rural Banks.

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Securities and Exchange Board of India proposed “GARUDA” (Green-Channel: AIF Rollout Upon Document Acknowledgement) to speed up the launch process of Alternative Investment Fund (AIF) schemes. Under the proposal, standard AIF schemes may be launched within 10 working days instead of 30 days if no objections are raised by SEBI. Schemes for accredited investors or angel funds may use direct filing without requiring a merchant banker. The initiative aims to improve ease of doing business and accelerate capital deployment in the AIF sector.