Business, Economy & Banking Current Affairs MCQs

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The Vizhinjam International Seaport, located in Kerala, is set to enhance container handling capacity significantly. Recently, the State government extended the project completion deadline to 2028, following a supplementary concession agreement with the Vizhinjam Private Port Limited. This port, built under a public-private partnership, is poised to handle large mother ships and reduce India’s reliance on foreign ports for transshipment. The total revenue from the port is estimated to reach ₹2,15,000 crore, with the State’s share projected at ₹35,000 crore.

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A Gujarat-based semiconductor company Suchi Semicon inaugurated Gujarat’s first OSAT (Outsourced Semiconductor Assembly and Testing) plant in Surat. The 30,000-square-foot facility provides assembly, testing, and packaging services for semiconductor components. It supports industries like automotive, consumer electronics, and industrial applications. The plant was inaugurated by Union Minister C.R. Patil and Gujarat’s Home Minister Harsh Sanghavi. This step strengthens India’s position in the global semiconductor supply chain and makes Gujarat a hub for high-tech manufacturing and innovation.

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India’s gold imports surged threefold in November to a record $14.8 billion, prompting a “detailed examination” by the Directorate General of Commercial Intelligence and Statistics (DGCIS). DGCIS, under the Ministry of Commerce & Industry, collects, compiles, and disseminates trade statistics and commercial data for policymakers, traders, and researchers. Established in 1862, it is India’s oldest large-scale data processing organization and is headquartered in Kolkata. Sir William W. Hunter was its first Director General in 1871. DGCIS also publishes inland trade statistics on inter-state goods movement via rail, river, and air.

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The Mumbai-Ahmedabad High-Speed Rail (MAHSR) Corridor is a project between India and Japan. India and Japan are finalizing bullet train designs for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Corridor to suit Indian conditions. Japanese Shinkansen trains are being modified for higher luggage capacity, functionality in over 50°C temperatures, and resistance to India’s dusty conditions. More than 50% of civil construction is complete across Gujarat, Maharashtra, and Dadra and Nagar Haveli, with rail welding operations underway. Indian Railways is building domestic capabilities for manufacturing high-speed trains while importing from Japan. The Integral Coach Factory (ICF) and BEML are set to produce bullet trains with 280 kmph speeds by 2026, featuring full air-conditioning, reclining seats, accessibility facilities, and entertainment systems.

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The RBI formed a committee named FREE-AI to establish a framework for responsible and ethical AI use in the financial sector. The committee is led by Pushpak Bhattacharyya, a professor at IIT Bombay. The committee will propose frameworks for AI governance, risk mitigation, and ethical adoption for banks, NBFCs, FinTechs, and PSOs. It will also address broader AI-related matters in the Indian financial sector. The committee will submit its report within six months of its first meeting.

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The Tobacco Board has initiated several strategic activities to ensure the sustainability and growth of the tobacco industry. The Tobacco Board of India was established on January 1, 1976, under the Tobacco Board Act, 1975. It is headed by a chairperson and works towards the development of the tobacco industry. Its main functions include promoting tobacco exports, regulating FCV tobacco production and distribution, and supporting domestic and international tobacco trade. India is the second-largest producer of tobacco globally, after China. India is also the second-largest exporter of unmanufactured tobacco, after Brazil.

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The Ministry of Commerce & Industry launched the 8th edition of the National Programme for Organic Production (NPOP) to promote ease of operations and transparency for stakeholders, including farmers. Agricultural and Processed Food Products Export Development Authority (APEDA) implements NPOP to strengthen India’s organic certification system. The event unveiled key portals, including NPOP, Organic Promotion Portal, TraceNet 2.0, revamped APEDA, and AgriXchange, for improving operations, traceability, and market access.

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Indichip Semiconductors and Japan’s Yitoa Micro Technology will establish India’s first private semiconductor manufacturing facility in Andhra Pradesh. The investment exceeds ₹14,000 crore and focuses on producing silicon carbide (SiC) chips. The facility will start with a capacity of 10,000 wafers/month, scaling up to 50,000 wafers/month in 2–3 years. The project aligns with the Aatmanirbhar Bharat vision, supporting electric vehicles and renewable energy solutions. Andhra Pradesh’s semiconductor policy aims to make the state a global manufacturing hub. The initiative will create thousands of jobs, spur innovation, and boost India’s semiconductor footprint.

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Punjab National Bank (PNB) becomes the first Indian bank to integrate Clari5’s National Cybercrime Reporting Portal (NCRP) solution. The solution was developed with the Indian Cyber Crime Coordination Centre (I4C) to automate cybercrime complaint processing. It works across all retail banking channels like Internet and Mobile Banking, ATMs, UPI, and NEFT/RTGS. Features include automated lien marking, intelligent account freezes, and customizable whitelisting to protect customers. Rivi Varghese, CEO of Clari5, praised PNB’s leadership, calling the integration a new benchmark for Indian banking innovation.

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The Ministry of Micro, Small, and Medium Enterprises (MSME) has launched the MSME Trade Enablement and Marketing (TEAM) initiative to help small businesses adopt digital commerce. It has a budget of ₹277.35 crore for three years and aims to onboard 5 lakh MSMEs onto Open Network for Digital Commerce (ONDC). The initiative focuses on inclusivity, targeting 50% women-led enterprises. MSMEs will get digital storefronts, payment solutions, and logistics support via ONDC. More than 150 workshops will educate MSMEs, especially women-led and SC/ST-led businesses. A dedicated portal will offer training, financial aid, and grievance support. The initiative aligns with India’s digital transformation goals and complements schemes like PM Vishwakarma and Digital MSME.