Business, Economy & Banking Current Affairs MCQs

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In September 2026, the Metropolitan Stock Exchange (MSE) facilitated India’s very first tokenised corporate bond transaction. This landmark milestone was achieved under the Securities and Exchange Board of India’s (SEBI) Demat 2.0 pilot project. Tokenisation represents a major technological shift, transforming traditional dematerialised securities into digital units recorded on a secure, distributed ledger. Unlike conventional trading mechanisms, this pilot project aims to modernise financial market infrastructure, improve transaction speed, and enhance overall security in the Indian corporate debt market.

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GIFT City (Gujarat International Finance Tec-City) has improved by nine places to rank 37th globally in the latest Global Financial Centres Index (GFCI 40). It was ranked 46th in GFCI 39, showing a significant improvement in its overall ranking. GIFT City has also entered the top 15 financial centres in the Asia-Pacific region. The GFCI evaluates financial centres on factors such as FinTech capabilities, access to finance, skilled talent, regulatory environment and ICT infrastructure. GIFT City is India’s first International Financial Services Centre (IFSC) and serves as a hub for financial and IT services. It supports sectors including banking, financial services, insurance, IT/ITeS and FinTech.

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Telangana recorded the highest combined (rural and urban) inflation among Indian states in August 2026, at 6.27%. Telangana remained at the top for eight consecutive months, from January to August 2026. Its inflation peaked at 6.36% in June before easing to 6.27% in August. Other states with high combined inflation in August were Tamil Nadu (5.92%), Madhya Pradesh (5.55%), Andhra Pradesh (5.53%) and Odisha (5.52%). Rural inflation was higher than urban inflation in 23 of 28 states. The data was released by the National Statistical Office (NSO) using the 2024 base year.

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The Government has disbursed ₹36,754 crore to beneficiary companies under the Production Linked Incentive (PLI) schemes since their launch in 2020, up to 30 June 2026. Large-scale electronics manufacturing received the highest incentives at ₹19,090.98 crore, followed by pharmaceuticals (₹6,662 crore). The PLI schemes were launched in 2020 for 14 sectors, with an approved outlay of ₹1.91 lakh crore. Their objectives include boosting domestic manufacturing, attracting investment, increasing exports, generating employment and reducing import dependence. By June 2026, the schemes had attracted ₹2.58 lakh crore in actual investment and generated ₹23.79 lakh crore in production/sales.

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The Bankers’ Books Evidence Act, 2026 came into force on 1 October 2026, replacing the Bankers’ Books Evidence Act, 1891. The new Act modernises the rules governing the use of banking records as evidence in legal proceedings. It recognises physical, electronic and digital banking records maintained in the ordinary course of banking business. The Act applies to court proceedings, arbitrations, investigations and inquiries where banking records are required as evidence. Electronic and digital records are legally admissible when their accuracy, authenticity and integrity are maintained and there is no unauthorised alteration or tampering.

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Pakistan was designated as the incoming Chair of the separate Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) for 2027. The Board of Governors is the highest decision-making body of both Bretton Woods institutions, comprising one governor and one alternate governor appointed by each member country. This chairmanship is distinct from executive leadership roles, such as the Managing Director of the IMF or the President of the World Bank Group. The decision highlights Pakistan’s upcoming leadership role at these international financial platforms during their joint governance meetings.

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Recently, the Government of India reconstituted the Financial Services Institutions Bureau (FSIB) on 16 October 2026, appointing Subhas Chandra Lal Das (S. C. L. Das) as its Chairman. Das is a retired 1992-batch Indian Administrative Service (IAS) officer of the AGMUT cadre and former Secretary of the Ministry of Micro, Small and Medium Enterprises (MSME). His term is three years from the date of notification of the resolution. FSIB operates under the Department of Financial Services, Ministry of Finance. It replaced the Banks Board Bureau (BBB) in 2022, which was established in 2016 to improve public sector bank governance and recommend candidates for senior positions.

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The Indian Institute of Technology Madras (IIT Madras) has launched UDYOG (Upskilling and Development for Young Graduates), an industry-oriented finishing school for young graduates. The programme aims to bridge the gap between academic education and industry requirements in the biotechnology and biomanufacturing sectors. The training follows a three-stage pathway designed to develop practical skills and professional competencies. The first stage consists of three months of online learning through the Centre for Outreach and Digital Education (CODE), supplemented by lectures from industry experts. The second stage includes four weeks of intensive, hands-on training at IIT Madras’s Biofoundry.

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The Government of India constituted the High-Level Committee on Banking for Viksit Bharat to review the country’s banking sector. The committee is chaired by Suresh N. Patel, former Central Vigilance Commissioner. It was first announced in the Union Budget 2026–27. The committee has been given six months to submit its recommendations. Its members are RBI Deputy Governor Shirish Chandra Murmu, former Indian Bank MD and CEO Padmaja Chunduru, and former RBI Deputy Governor N. S. Vishwanathan. The Joint Secretary (Banking), Department of Financial Services, will serve as the Member Secretary. The committee will recommend structural, institutional, regulatory and legislative reforms to strengthen India’s banking sector.

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Outward remittances from India under the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS) crossed US20 billion during January–August 2026. Indian residents remitted approximately US20.09 billion abroad during the first eight months of 2026, compared with US$19.08 billion during the corresponding period in 2025. The Liberalised Remittance Scheme (LRS) was introduced by the Reserve Bank of India (RBI) in February 2004. It was introduced under the Foreign Exchange Management Act (FEMA), 1999.