Business, Economy & Banking Current Affairs MCQs

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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 Department of Financial Services under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a coverage capacity of USD 1.5 billion. The initiative includes a sovereign guarantee of ₹12,980 crore to ensure uninterrupted maritime insurance amid global geopolitical tensions, especially in the Middle East. BMIP covers maritime risks such as Hull and Machinery, Cargo, Protection and Indemnity (P&I), and War Risk for Indian vessels and cargo operations linked to India. The pool aims to strengthen India’s maritime risk protection framework and enhance sovereign control over maritime trade and insurance.

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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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Meesho has partnered with Bombay Stock Exchange (BSE) to launch Project Shikhar, an initiative aimed at helping MSMEs and digital businesses become publicly listed companies. The initiative will support high-performing e-commerce sellers in getting listed on the BSE SME platform and gaining access to growth capital. Project Shikhar was launched through a Memorandum of Understanding (MoU) between Meesho and BSE. The programme aims to create a step-by-step roadmap for businesses to transition from informal enterprises to investor-ready public companies.

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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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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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National Payments Corporation of India launched Drunix, an open-source blockchain platform. The purpose of this is to build and scale tokenisation platforms, support digital asset ecosystems and enable multi-organisation blockchain networks. Drunix is a high-performance distributed ledger platform designed for enterprise and public infrastructure adoption. Drunix is NPCI’s second major open-source blockchain contribution after Falcon.