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UAE Exits OPEC and OPEC+ in Historic Move
The United Arab Emirates has formally withdrawn from OPEC and OPEC+, dealing a major blow to the global oil producers' cartel.
OPECOil Markets
Latest economy and banking current affairs for SBI PO, IBPS PO, RBI Grade B, and other banking exams. Includes RBI policy, monetary policy, budget updates, and financial news.
Economy & Banking current affairs for Banking (SBI, IBPS), RBI Grade B, UPSC and SSC exams. Practice the latest Economy & Banking MCQs, important exam-ready facts and updates on RBI monetary policy, budget, banking sector and financial-market updates — refreshed regularly for 2026.
Practice the latest Economy & Banking current affairs MCQs for Banking (SBI, IBPS), RBI Grade B, UPSC and SSC exams. This week's Economy & Banking quiz has 12 timed questions with answers and detailed explanations — a quick way to test your revision before the exam.
The United Arab Emirates has formally withdrawn from OPEC and OPEC+, dealing a major blow to the global oil producers' cartel.
India's crude oil imports declined nearly 17% in March 2026 due to the West Asia conflict disrupting Middle East supplies, while LNG imports rose 20.5% as India accelerated its push for piped gas and clean fuel.
India's foreign exchange reserves jumped $2.3 billion to $703 billion, while India assured Mauritius that DTAA tax benefits will continue following a Supreme Court ruling.
India's eight core sector output contracted 0.4% in March 2026 — the worst performance in 19 months — as the West Asia conflict disrupted energy and industrial activity.
India's formal credit flows surged 38% in FY26 to ₹44.6 lakh crore, with total outstanding credit crossing ₹300 lakh crore for the first time, driven by RBI's rate cuts and liquidity infusion.
India's March 2026 oil imports data showed Russian crude at record volumes, while OPEC's share dropped to an all-time low of 29% as India diversified away from Middle East suppliers.
The UN projected India's GDP growth at 6.4% in 2026 and 6.6% in 2027, while the rupee plunged 32 paise to settle at 93.48 against the US dollar amid oil shock pressures.
India and New Zealand concluded Free Trade Agreement negotiations, with signing scheduled for April 27. New Zealand PM Christopher Luxon called it a 'once-in-a-generation deal' to double bilateral trade to $5 billion.
HSBC downgraded India to 'underweight' citing oil shock risk, while US Trade Representative Greer called India a 'tough nut to crack' as trade negotiations wrapped up.
Jio Financial Services (JFSL) and Germany's Allianz Group announced a joint venture to offer general and health insurance in India, with a separate binding agreement for life insurance also in the works.
India's net Foreign Direct Investment surged to a 45-month high in February 2026, with gross FDI jumping 61.6% to a seven-month high of nearly $9 billion.
The RBI cancelled the banking license of Paytm Payments Bank Ltd (PPBL) for persistent regulatory violations, including non-compliance with KYC norms.
Reliance Industries reported a record net profit of ₹95,610 crore in FY26, becoming the first Indian company to surpass $10 billion in annual profit.
The RBI's Monetary Policy Committee kept the benchmark repo rate at 5.25% while maintaining a neutral stance, citing global uncertainties from the ongoing West Asia conflict.
Foreign portfolio investor outflows from India in Jan-Apr 2026 have exceeded total outflows of 2025.
India's credit card market has expanded to 119 million active cards, with PSU banks gaining share in spends.
The World Gold Council reports a 10% rise in gold demand in Jan-Mar 2026 with a 99% surge in value driven by geopolitical tensions.
IRDAI Chairman Ajay Seth stated that 100% FDI in insurance will enhance capacity and protect policyholders.
The Asian Development Bank has revised Asia's GDP growth forecast downward to 4.7% for 2026 amid global trade uncertainties.
The RBI has directed banks to proactively offer loan relief measures to borrowers affected by natural calamities from July 1, 2026.
The US Federal Reserve kept its benchmark interest rate unchanged amid rising inflation concerns and geopolitical uncertainty.
A SEBI panel cleared the NSE's Rs 1,800 crore settlement proposal, bringing the National Stock Exchange closer to its long-awaited IPO.
Maruti Suzuki reported a 6.45% decline in Q4 FY26 net profit to Rs 3,659 crore, impacted by higher input costs from the Iran war and increased depreciation.
The Enforcement Directorate attached assets worth Rs 3,034.90 crore in the Reliance Communications bank fraud case, including properties in Mumbai and Khandala.
India's Index of Industrial Production (IIP) growth slowed to a 5-month low of 4.1% in March 2026, the first month reflecting the impact of the West Asia crisis.
MoSPI has proposed an Index of Services Production (ISP) using GST data with 2024-25 as base year to track monthly output across key service sectors.
The National Stock Exchange crossed the 13 crore unique investor milestone, adding 1 crore investors in just 7 months, driven by digital access and rising retail participation.
Sun Pharmaceutical Industries announced the acquisition of US-based Organon & Co for $11.75 billion, its largest-ever deal, expanding into women's health and biosimilars.
RBI has finalised the Expected Credit Loss provisioning framework for banks, to be implemented from April 1, 2027, replacing the current incurred loss model.
The Ganga Expressway is set to drive ₹47,000 crore worth of industrial investments in Uttar Pradesh, with industrial nodes planned along its 594 km stretch connecting Meerut to Prayagraj.
India's top IT exporters faced a $115 billion market cap wipeout as Infosys and HCL Technologies reported results below expectations, pressured by weak global demand and AI-driven disruption.
As of March 2026, central sector infrastructure projects exceeding ₹150 crore collectively suffered cost overruns of ₹5.61 lakh crore, with 1,941 ongoing projects showing total revised costs ballooning to ₹41.50 lakh crore.
The government is set to notify draft rules for the rollout of E85 fuel — a blend of 85% ethanol and 15% petrol — offering greater energy security and reduction in vehicular pollution.
A Syrian court began proceedings against ousted President Bashar al-Assad and allies, while India's SBI sought Supreme Court review of a ruling that 'spectrum' doesn't count as an asset in IBC proceedings.
FM Nirmala Sitharaman called for a unified KYC framework across the financial sector led by SEBI, while announcing a panel under SBI Chairman C.S. Setty to assess risks from AI platform 'Mythos'.
The US imposed preliminary anti-dumping duties of 123% on solar cells and modules imported from India, a potential blow to Indian solar exporters though with limited immediate domestic impact.
India's billionaire population may rise 51% to 313 by 2031 according to Knight Frank's Wealth Report, with Mumbai accounting for 35.4% of India's Ultra High Net Worth Individuals.
The RBI's State of Economy Report flagged upside risks to inflation from the West Asia conflict and Strait of Hormuz disruptions, while affirming India's external sector remains resilient.
India's Composite PMI rose in April 2026 driven by manufacturing strength, showing resilience against the West Asia oil shock and signaling continued private sector growth.
Infosys posted a 21% YoY jump in Q4 FY26 net profit to ₹8,501 crore and announced plans to hire 20,000 freshers in FY2026-27.
India assured Mauritius that Double Taxation Avoidance Agreement benefits will continue despite a Supreme Court ruling, providing certainty to foreign investors.
The Ministry of Mines announced a ₹5,000 crore incentive scheme for states to expedite auctioning and operationalization of mineral blocks.
National highway construction in FY26 reached 9,380 km, falling short of the 10,000 km target and marking the slowest pace since 2017-18 due to land acquisition delays.
IndusInd Bank beat Q4 FY26 profit estimates, with fewer new bad loans emerging — a significant recovery after the bank's biggest-ever quarterly loss due to derivative misaccounting in the previous year.
The US imposed preliminary anti-dumping duties of 123% on solar cells and modules imported from India, raising concerns about India's growing solar export sector.
The Agriculture Ministry assured that India's 2025-26 wheat production remains strong despite localized damage from unseasonal rains and hailstorms.
RBL Bank reported a 233% surge in Q4 FY26 profit to ₹230 crore while L&T Finance posted a 27% jump to ₹807 crore, reflecting strong banking sector performance.
India's textiles and garment exports declined 2.2% in FY2025-26, reflecting global demand weakness and competitiveness challenges.
SEBI celebrated its 38th foundation day with Chairman Tuhin Kanta Pandey announcing plans to simplify regulations and boost technology-led market oversight.
Foreign Institutional Investors pulled out ₹1.75 lakh crore from Indian equities in 2026 so far, as JPMorgan downgraded India from Overweight to Neutral.
Indian trade officials concluded constructive in-person talks with US counterparts in Washington, the first face-to-face meeting since October 2025, though no deadline was set.
Axis Bank reported a slight dip in Q4 FY26 net profit due to trading losses and increased provisions, though asset quality showed improvement.
India's Sun Pharmaceutical Industries announced the acquisition of US-based Organon & Co. for $11.75 billion in an all-cash deal, one of the largest outbound acquisitions by an Indian company.
Economy & Banking current affairs cover RBI monetary policy, budget, banking sector and financial-market updates. These are frequently tested in Banking (SBI, IBPS), RBI Grade B, UPSC and other government exams, so revising them regularly helps in both prelims and mains.
Use the latest Economy & Banking MCQs on this page for quick revision, then attempt the full timed Economy & Banking quiz to test recall under exam-like conditions.
Economy & Banking current affairs on TestNeeti are updated regularly as new developments are published, with the most recent and exam-important items surfaced first.
Recent high-value Economy & Banking topics include OPEC, Oil Markets, Energy & Infrastructure, Foreign Trade — all covered with key facts and MCQs on this page.
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