Business, Economy & Banking Current Affairs MCQs

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Reserve Bank of India under its strategy ‘Utkarsh 2029’ (2026–2029 framework for financial sector reforms) plans to advance Project Sa-Mudra (currency management modernisation initiative). It aims to expand CBDC (Central Bank Digital Currency: digital form of sovereign currency) for efficient cross-border payments. The framework rests on six pillars: robust regulations, inclusive finance, competitive markets, effective technology, future-ready organisation, and Global India. RBI will scale up ULI (Unified Lending Interface: digital platform for seamless credit access) to improve credit delivery to underserved sectors.

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Life Insurance Corporation of India launched MyLIC App (for customers) and Super Sales Saathi App (for intermediaries) to enhance digital insurance services. LIC manages over 260 million policies, highlighting its vast insurance footprint in India. MyLIC App offers a 360° digital platform with services like premium payment, policy tracking, e-KYC (electronic Know Your Customer), claims support, and paperless loans. It enables users to revive lapsed policies and purchase insurance online seamlessly. Super Sales Saathi App provides digital tools for agents, including performance dashboards, AI-based insights, and real-time tracking.

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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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BSE Index Services has launched the BSE Housing Finance Index to track the performance of companies in the housing finance sector. The index is derived from constituents of the BSE 1000 Index that are classified under housing finance as a basic industry. It will be reconstituted semi-annually in June and December to ensure updated representation of the sector. The index is designed to support passive investment instruments like exchange-traded funds (ETFs) and index funds.

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Department for Promotion of Industry and Internal Trade data shows that Singapore was the top source of FDI (Foreign Direct Investment) equity inflows into India during April–December FY26, contributing 17.6 billion (37%). The United States (16%) and Mauritius (10%) were the next major contributors, followed by Japan and the UAE. India received a total of 47.87 billion in FDI equity inflows during this period. The top sectors attracting FDI were Computer Software & Hardware (22%) and Services (Financial, Banking, R&D) at 18%. Among states, Maharashtra received the highest inflows, followed by Karnataka.

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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

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The Reserve Bank of India launched Mission SAKSHAM for strengthening the Urban Co-operative Banks (UCBs) sector. It is a nationwide capacity-building initiative focused on improving managerial and operational efficiency. The mission aims to enhance compliance culture, governance, and institutional resilience in UCBs. It will include training programmes (offline and e-learning) covering around 1.4 crore participants.

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The Employees Provident Fund Organisation is launching the E-PRAAPTI Portal (EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts). The portal aims to identify, track, and activate inoperative EPF accounts. It uses Aadhaar-based authentication for secure access to old accounts. It enables linking of old EPF accounts with the Unique Account Number (UAN). In the initial phase, access will be member ID-based for easier rollout. Later, it will also help users retrieve accounts even without member ID details.

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The Unified Payments Interface completed 10 years (2016–2026), becoming the world’s largest real-time payments platform. It was launched by the National Payments Corporation of India under the supervision of the Reserve Bank of India. Transaction volume surged from 2 crore (2016–17) to over 24,162 crore (2025–26). UPI accounts for nearly 49% of global real-time payment transactions. The International Monetary Fund recognised UPI as the world’s largest real-time payment system.