Business, Economy & Banking Current Affairs MCQs

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Indian travelers can now use Unified Payments Interface (UPI) apps to make purchases in Qatar, the eighth country to adopt UPI for international payments. Qatar Duty Free is the first merchant to accept QR code-based UPI transactions. NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and Japanese gateway NETSTARS enabled UPI at select point-of-sale (POS) terminals. Other countries with UPI access include Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and United Arab Emirates. The move promotes a globally interoperable payment network and cross-border digital transactions.

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India has launched an anti-dumping investigation on imports of Ethambutol Hydrochloride from China and Thailand. The probe is conducted by the Directorate General of Trade Remedies (DGTR) under the Ministry of Commerce and Industry. The investigation follows an application by Lupin, India’s only domestic producer of the drug. Ethambutol Hydrochloride is used to treat pulmonary tuberculosis as part of combination therapy to prevent drug resistance.

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The Maharashtra government launched the E-Bond system for import and export businesses, replacing traditional stamp paper bonds in October 2025. Revenue Minister Chandrashekhar Bawankule announced the system in Mumbai. The system aims to simplify trade procedures, speed up transactions, and enhance transparency in commercial operations. Maharashtra becomes the 16th state in India to adopt digital bonds. The move represents a major step in modernising trade administration. E-Bonds reduce paperwork and make processes faster, secure, and more efficient. The initiative supports ease of doing business and promotes digital adoption in trade.

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Around 10 Indian marine and saline fish and shrimp varieties are soon to receive the Marine Stewardship Council (MSC) certification. Marine Stewardship Council (MSC) certification is an international non-profit organisation that sets science-based standards for sustainable fishing and seafood traceability. Its certification recognises and rewards sustainable fishing practices to promote a sustainable seafood market. The certification is based on independent third-party assessments focusing on stock health, environmental impact, and effective management. It is voluntary, open to all fisheries regardless of location, size, or fishing gear. Astamudi clam (Paphia malabarica) was India’s first MSC-certified fishery.

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The U.S. president recently signed a proclamation raising the annual H-1B visa fee to $100,000. This sudden hike created panic-driven demand and price rise, showing a classic case of “Fomoflation.” Fomoflation means inflation caused by Fear Of Missing Out (FOMO) and market pressure. It happens when people buy excessively due to fear of scarcity, creating artificial demand. Prices then rise faster than actual economic factors justify. Unlike normal inflation from macroeconomic causes, fomoflation comes from behavioral psychology. Social media often amplifies it. For example, During festivals, fear of shortage raises prices of pulses and cooking oil even with enough supply.

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The World Trade Organization (WTO) recently praised India’s liberalised Authorised Economic Operator (AEO) programme for boosting participation of Micro, Small, and Medium Enterprises (MSMEs) in international trade. The AEO programme operates under the World Customs Organisation (WCO) SAFE Framework of Standards to secure and facilitate global trade. WCO adopted the SAFE Framework in June 2005 to strengthen international supply chain security. AEO is one of the three pillars of the SAFE Framework and promotes customs–trade partnership. It was launched by the Central Board of Indirect Taxes and Customs (CBIC) as a pilot in 2011 and revised in 2016. It is implemented by the Directorate of International Customs under CBIC.

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The Sevilla Forum on Debt was launched on October 22, 2025, at the 16th United Nations Conference on Trade and Development (UNCTAD16) in Geneva. It is a Spanish-led initiative supported by UNCTAD and the UN Department of Economic and Social Affairs (DESA). The Forum provides an open, inclusive platform for dialogue and action on sovereign debt reform. The Forum stems from the Fourth International Conference on Financing for Development (FfD4) and aligns with the Sevilla Platform for Action and Sevilla Commitment. Spain will host the Forum as a bridge between borrowers and creditors, tracking implementation of debt initiatives. Global debt reached $102 trillion in 2024; developing countries owe $31 trillion and pay $921 billion in interest

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In November 2025, Union Finance Minister Nirmala Sitharaman inaugurated the Guwahati Gateway Terminal and Jetty. It is India’s first modern river ferry terminal. The terminal is built to improve and make river transport on the Brahmaputra River more efficient. It integrates multimodal connectivity to enhance overall transportation infrastructure in Assam. The project is part of developing a world-class riverfront in Guwahati. The initiative aims to boost tourism and economic activity in the region. The terminal is a landmark development in India’s river transport sector. It may serve as a model for other states with major rivers.

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The Central Board of Direct Taxes (CBDT) has launched the second “Non-intrusive Usage of Data to Guide and Enable (NUDGE)” initiative to strengthen voluntary compliance regarding foreign assets. The campaign focuses on correct reporting in Schedule Foreign Assets (FA) and Foreign Source Income (FSI) in Income Tax Returns (ITRs). The first NUDGE campaign (November 2024) led 24,678 taxpayers to disclose ₹29,208 crore in foreign assets and ₹1,089.88 crore in foreign-source income. CBDT receives foreign asset data under Common Reporting Standards (CRS) and Foreign Account Tax Compliance Act (FATCA) to identify discrepancies.

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The Cabinet Committee on Economic Affairs approved the CoalSETU window, a new policy mechanism for long-term coal linkages. CoalSETU is added to the Non-Regulated Sector (NRS) Linkage Auction Policy of 2016. Unlike existing NRS linkages reserved for specific sectors (cement, sponge iron, aluminium, steel, captive power), any domestic industrial consumer can now participate. Coking coal is excluded and traders cannot bid under this window. Linkage holders can use coal for own consumption, washing, or export, but resale within India is prohibited. Export is allowed for up to 50% of allocated coal, and distribution among group entities is permitted.