Business, Economy & Banking Current Affairs MCQs

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Tamil Nadu leads Indian states in economic complexity, gauged by GDP and employment diversity. Its farm sector’s contribution to GVA and labor force is below the national average, compensated by higher shares of industry, services, and construction. This balanced economy reflects a lower dependency on agriculture compared to the national average, positioning Tamil Nadu as a robust economic entity.

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SJVN Limited inaugurated India’s first multipurpose green hydrogen pilot project at the Nathpa Jhakri Hydro Power Station in Himachal Pradesh. Operating for eight hours daily, it aims to produce 14 kg of green hydrogen, with surplus utilized to generate electricity through a 25 kW fuel cell. The project will also produce high-velocity oxygen fuel coating material for NJHPS. Its 20 Nm/hour alkaline electrolyzer is powered by renewable energy from a 1.31 MW solar power plant in Shimla.

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The National Bank for Agriculture and Rural Development (NABARD) recently sanctioned a study on the impact evaluation of Geographical Indication (GI) products to Symbiosis School of Economics. A GI is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. The protection of intellectual property through laws will help to reap benefits in terms of economic growth, employment and income generation.

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The International Monetary Fund (IMF) approved a $1.1 billion disbursement to Pakistan under the Stand-By Arrangement (SBA), aimed at addressing balance of payments issues. SBAs offer short-term financial aid to member countries, commonly used by both advanced and emerging economies. Eligibility extends to nations with external financing needs. Funding is contingent on policy reforms, including quantitative targets and structural measures. Loan duration ranges from 12 to 36 months.

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SEBI approved changes in mutual fund regulations to combat front-running in Indian asset management companies (AMCs). Front-running, or trading with non-public information ahead of significant transactions, is illegal in India and can impact asset prices. It occurs in various financial markets like stocks and commodities. Common strategies include Buy-Buy-Sell (BBS) and Sell-Sell-Buy (SSB) patterns. These regulatory changes aim to safeguard market integrity and investor interests.

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Rising temperatures in India could slash milk production by 25% by 2085, warns a Lancet report. India, the top global milk producer and consumer, faces severe livelihood and nutrition risks. The northern plains contribute 30% of India’s milk, supported by 89 million smallholder farmers. Heat stress, measured by the Temperature Humidity Index (THI), reduces milk yield. Unabated, this could cost 3.4 lakh tons of milk and 15,000 crores by 2030 in the northern plains alone.

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Tea production in Assam and West Bengal could drop by 50% per TBI data. The Tea Board of India (TBI), established in 1954 under the Tea Act, 1953, operates under the Ministry of Commerce with headquarters in Kolkata. It boasts overseas offices in London, Dubai, and Moscow. With 31 members, including the Chairman, it’s reconstituted every three years. Major tea-growing regions include Assam, West Bengal, Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Tripura, and Himachal Pradesh.

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In FY24, Bank of Maharashtra led public sector banks with a 15.94% rise in total business, outpacing the State Bank of India. The Pune-based bank excelled in deposit mobilization, achieving a significant 52.73% growth in low-cost CASA deposits, highlighting its strategic advantage in maintaining a healthy cost of funds despite industry-wide challenges.

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Delhi- based think tank Centre for Science and Environment (CSE) praised SEBI’s Business Responsibility and Sustainability Reporting (BRSR) initiative. Introduced in May 2021, BRSR mandates the top 1000 listed companies to disclose their performance on environmental, social, and governance (ESG) aspects. This aims to showcase their commitment to responsible business practices and provides policymakers and investors with crucial data for informed decision-making.

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The International Labour Organization (ILO) predicts a slight decrease in global unemployment, with a projected rate of 4.9 percent in 2024, contrary to previous forecasts of a rise. Despite this improvement, the agency warns of “slow progress” in addressing inequalities. The report indicates that the unemployment rate is expected to remain stable at 4.9 percent in 2025. This update offers a more optimistic outlook for global employment prospects in the coming years.