Current Affairs - Finance
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Exercise : Finance - Latest Current Affairs
- Finance - Latest Current Affairs
1.
Which financial institution signed a $126 million loan agreement with India to promote sustainable tourism in Uttarakhand?
Answer: Option
Explanation:
India signed a $126 million loan agreement with the Asian Development Bank (ADB) to boost sustainable tourism in Uttarakhand, particularly focusing on Tehri Garhwal District. The project is expected to benefit nearly 87,000 local residents while enhancing the experience for about 2.7 million annual visitors. The funding will help in strengthening tourism planning, improving infrastructure, ensuring proper sanitation and waste management, and enhancing disaster preparedness in the region. By promoting environmentally responsible and culturally sensitive tourism, the project aims to balance economic development with ecological preservation, creating long-term benefits for both local communities and visitors.
Date : 2025-09-12
2.
What is the new 24-hour cumulative UPI transaction limit for select categories like insurance, capital markets, and loan collections effective from September 15, 2025?
Answer: Option
Explanation:
Starting September 15, 2025, the National Payments Corporation of India (NPCI) revised the Unified Payments Interface (UPI) limits for specific high-value Person to Merchant (P2M) transactions made through verified merchants. The per-transaction cap has been raised to ₹5 lakh, while the daily cumulative limit has been increased to ₹10 lakh. This enhanced limit covers sectors such as capital markets, insurance, government tax payments, credit card settlements, EMI collections, and travel bookings. The decision aims to strengthen India’s digital payments ecosystem, making UPI more versatile for high-value financial activities while ensuring secure, real-time, and cashless transactions at scale.
Date : 2025-09-05
3.
From which date will NPCI discontinue UPI peer-to-peer ‘collect requests’ to curb fraud?
Answer: Option
Explanation:
The National Payments Corporation of India (NPCI) has announced that peer-to-peer ‘collect requests’ on UPI will be discontinued starting October 1, 2025. This feature, which allowed one user to request payment approval from another, had become a major loophole exploited by fraudsters, despite transaction caps and limits. By mandating only payer-initiated (push) transactions such as QR code scans or manual entry of recipient details, NPCI aims to strengthen digital payment security. The move affects all UPI apps including PhonePe, Google Pay, and Paytm, and is expected to enhance trust, reduce fraud risks, and ensure safer digital transactions nationwide.
Date : 2025-08-18
4.
What is the total amount of unclaimed bank deposits in India as of June 30, 2025?
Answer: Option
Explanation:
As of June 30, 2025, unclaimed bank deposits in India have reached a total of ₹67,003 crore, reflecting a growing concern within the financial system. The majority of these funds are lying with public sector banks, led by the State Bank of India, with over ₹19,000 crore. In response, the Reserve Bank of India (RBI) has launched the UDGAM portal to streamline the process for individuals to locate and claim these dormant funds. This initiative emphasises the importance of financial awareness and inclusion, while also addressing inefficiencies caused by inactive accounts and improving transparency within the banking system.
Date : 2025-07-29
5.
Which international organisation released the note titled "Growing Retail Digital Payments: The Value of Interoperability", highlighting the impact of UPI?
Answer: Option
Explanation:
The International Monetary Fund (IMF) released a detailed note titled "Growing Retail Digital Payments: The Value of Interoperability", recognising the transformative role of India’s Unified Payments Interface (UPI) in the digital finance landscape. The IMF highlighted UPI’s ability to scale rapidly, offer real-time secure payments, and foster financial inclusion. UPI’s interoperability — allowing seamless transactions across platforms and banks — was a key point of emphasis, as it enables widespread adoption and innovation. The report also underscores India’s leadership in global digital payment systems, with UPI accounting for a major share of global real-time transactions and being adopted across multiple countries.
Date : 2025-07-27
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