Business, Economy & Banking Current Affairs MCQs

Notes:
India’s first commercial utility-scale battery energy storage system (BESS) will go live in March 2025. It is located in Kilokri, a village in south Delhi. The BESS is a 20 MW/40 MWh battery cluster that is part of the BSES Rajdhani Power Limited (BRPL) Kilokri substation. The system is expected to provide four hours of power every day, two hours each during the day and at night. The BESS project is a collaboration between BRPL, IndiGrid, and the Global Energy Alliance for People and Planet (GEAPP). The project is a significant milestone in India’s efforts to integrate renewable energy and modernize its power infrastructure.

Notes:
Microsoft CEO Satya Nadella announced a partnership with India’s AI Mission to upskill 500,000 people and promote inclusive growth by 2026. An MoU was signed to drive AI innovation, productivity, and inclusivity across India. An AI Center of Excellence, ‘AI Catalysts,’ will support 100,000 developers and rural AI innovation through hackathons and solutions. ‘AI Productivity Labs’ at 20 institutes will provide foundational AI education to 20,000 educators. Citizen-centric AI solutions will address healthcare, education, accessibility, and agriculture. A five-year partnership with RailTel will boost digital and AI transformation in Indian Railways and public sectors.

Notes:
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.

Notes:
Google-backed Pixxel launched India’s first private satellite constellation, marking a milestone for the country’s private space sector. The satellites use hyperspectral imaging technology to capture detailed data across light bands for agriculture, mining, environmental monitoring, and defense. This technology can help improve crop yields, track resources, monitor oil spills, and provide better details than existing technology. Three more satellites are expected to be deployed by mid-2025. The global satellite imagery market is projected to reach $19 billion by 2029.

Notes:
National Mineral Development Corporation (NMDC) is set to extract 6,500 carats of diamonds, worth $3.4 million, from a mine near Panna Tiger Reserve in Madhya Pradesh this fiscal year. NMDC, established in 1958, is a state-owned enterprise under the Ministry of Steel. It produces iron ore, copper, limestone, gypsum, diamonds, and more. NMDC is India’s largest iron ore producer, with mines in Chhattisgarh and Karnataka. It operates India’s only mechanized diamond mine at Panna. NMDC’s mining complexes are rated 5 Star by the Indian Bureau of Mines. Its headquarters is in Hyderabad, Telangana.

Notes:
The Directorate General of Foreign Trade (DGFT) launched the enhanced Certificate of Origin (eCoO) 2.0 System to simplify export certification and boost trade efficiency. It features multi-user access, allowing exporters to authorize multiple users under one Importer Exporter Code (IEC). Aadhaar-based e-signing is now supported, along with digital signature tokens for greater flexibility. The system includes an integrated dashboard for easy access to eCoO services, Free Trade Agreement (FTA) info, and trade events. Over 7,000 eCoOs are processed daily, connecting 125 issuing agencies across the country.

Notes:
The Economic Survey projects 6.3-6.8% growth for 2025-26, driven by a strong external account, fiscal consolidation, and stable private consumption. It stresses that domestic growth drivers will be more crucial than external factors in the future. The Survey calls for deregulation and reforms to focus on economic freedom for individuals and organizations. India’s growth is estimated at 6.4% in 2024-25, the slowest in four years. The retreat of globalization means India must leverage its demographic dividend and strong domestic balance sheets for future growth.

Notes:
The National Consumer Helpline (NCH), under the Ministry of Consumer Affairs, has adopted an AI-driven system for sector-wise grievance analysis. The number of calls received has grown from 12,553 in Dec 2015 to 1,55,138 in Dec 2024. Monthly complaints registered have increased from 37,062 in 2017 to 1,12,468 in 2024. Grievance disposal time has reduced from 66.26 days in 2023 to 48 days in 2024. 1,038 companies have become convergence partners to resolve issues faster. Success stories from sectors like e-commerce, broadband, and banking show improved grievance resolution, boosting consumer trust.

Notes:
Agricultural and Processed Food Products Export Development Authority (APEDA), in collaboration with AgroStar and Kay Bee Exports, completed India’s first-ever commercial trial shipments of premium Sangola and Bhagwa pomegranates to Australia by sea. APEDA was established in 1985 under the Agricultural and Processed Food Products Export Development Authority Act. It replaced the Processed Food Export Promotion Council (PFEPC) and functions under the Ministry of Commerce and Industry. APEDA promotes and develops the export of scheduled products, requiring exporters to register. It provides financial assistance, information, and guidelines to support scheduled product exports.

Notes:
India’s Purchasing Managers’ Index (PMI) rose for the first time after three quarters. PMI measures business activity in manufacturing and services sectors through surveys. It helps assess whether market conditions are expanding, contracting, or stable. There are two types: Manufacturing PMI and Services PMI. Manufacturing PMI is based on new orders, output, employment, supplier delivery times, and stock purchases. A PMI above 50 indicates expansion, while below 50 shows contraction. PMI is released monthly by S&P Global, a global financial analytics firm.