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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Government Retains Unchanged Interest Rates on Small Savings Schemes for June Quarter

• The Government of India has decided to keep interest rates unchanged for small savings schemes for the June quarter.
• This marks the ninth consecutive quarter of unchanged interest rates for these schemes.
• The Public Provident Fund (PPF) continues to offer an interest rate of 7.1%, while the Sukanya Samriddhi Scheme offers 8.2%.
• The Senior Citizen Savings Scheme (SCSS) interest rate remains at 8.2%, and the National Savings Certificate (NSC) at 7.7%.
• The Kisan Vikas Patra (KVP) continues to offer 7.5% interest with a maturity period of 115 months.
• Other unchanged rates include:
• Savings Deposit – 4%
• 1-year Deposit – 6.9%
• 2-year Deposit – 7%
• 3-year Deposit – 7.1%
• 5-year Deposit – 7.5%
• 5-year Recurring Deposit (RD) – 6.7%
• Monthly Income Scheme (MIS) – 7.4%
• Funds collected under small savings schemes are used to part-finance the Central Government’s fiscal deficit.
• The government aims to mobilize ₹3.88 lakh crore from the National Small Savings Fund (NSSF) in FY27, higher than ₹3.43 lakh crore (revised estimate) in the current fiscal.
• The interest rates of small savings schemes are determined based on a market-linked formula recommended by the Shyamala Gopinath Committee.

Reserve Bank of India Imposes ₹31.80 Lakh Penalty on Airtel Payments Bank for Non-Compliance with Disclosure Norms in Financial Statements

• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹31.80 lakh on Airtel Payments Bank Limited for non-compliance with certain provisions of the directions issued by RBI on ‘Disclosure in Financial Statements’.
• This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.
• The Statutory Inspection for Supervisory Evaluation (ISE 2025) of the bank was conducted by RBI with reference to its financial position as on March 31, 2025.
• Based on supervisory findings of non-compliance with RBI directions, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed.
• After considering the bank’s reply, additional submissions, and oral submissions during the personal hearing, RBI found that the charge was sustained.
• The specific violation involved the non-disclosure of certain complaints in its annual financial statements for the financial year 2024-25.
• The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
• Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

Recent News :

• In March 2026, The Reserve Bank of India (RBI) imposed a monetary penalty of ₹58.50 lakh on Bank of India for regulatory non-compliance.

Reserve Bank of India imposes ₹63.60 lakh penalty on Central Bank of India for regulatory non-compliance

• The Central Bank of India has imposed a monetary penalty of ₹63.60 lakh by the Reserve Bank of India (RBI).
• The penalty was imposed for non-compliance with RBI directions on Know Your Customer (KYC) and Basic Savings Bank Deposit Account (BSBDA) norms under Financial Inclusion guidelines.
• The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, empowering RBI to impose penalties for regulatory violations.
• The Statutory Inspection for Supervisory Evaluation (ISE 2025) was conducted with reference to the bank’s financial position as on 31 March 2025.
• Based on supervisory findings, RBI issued a show-cause notice after identifying non-compliance with regulatory directions.
• After reviewing the bank’s reply and oral submissions, RBI confirmed the following major violations:
• Failure to upload KYC records of certain customers to the Central KYC Records Registry within the prescribed timeline.
• Opening of multiple Basic Savings Bank Deposit Accounts (BSBDA) for the same customers, violating guidelines.
• RBI clarified that the penalty is based on deficiencies in statutory compliance and does not affect the validity of customer transactions or agreements.
• The action is without prejudice to any other regulatory action that may be initiated by RBI against the bank in future.

About Central Bank of India :

• Founded : 21 December 1911
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Kalyan Kumar

Moody’s Seeks to Open Branch in Gujarat International Finance Tec-City IFSC, Enhancing Global Financial Hub Appeal

• Moody’s Investors Service has applied to set up a branch in GIFT IFSC (Gujarat International Finance Tec-City), marking a major step in strengthening India’s offshore financial hub.
• The application has been filed under the IFSCA (Capital Market Intermediaries) Regulations, 2025 to undertake credit rating and related permissible activities.
• Moody’s is one of the “Big Three” global credit rating agencies, along with S&P Global Ratings and Fitch Ratings.
• The proposed branch will have an initial setup of about 15 sq m with a four-member team, funded through internal accruals.
• The move follows regulatory support from SEBI (Securities and Exchange Board of India) and IFSCA (International Financial Services Centres Authority), which allowed credit rating agencies to operate in IFSC.
• In July 2024, SEBI permitted credit rating agencies to undertake rating activities within IFSC, enabling global and domestic participation.
• S&P Global Ratings has already received registration approval (June 2025) to operate in GIFT IFSC.
• Among domestic players, CARE Ratings (CareEdge) was the first to establish presence in IFSC through CareEdge Global IFSC Ltd (October 2024).
• CareEdge has assigned sovereign ratings to 39 countries, including a BBB+ rating for India.
• Credit rating agencies play a crucial role in global financial markets by assessing the creditworthiness of sovereigns, corporates, and financial instruments.
• In GIFT IFSC, rating agencies will support:
• Debt listings and offshore bond issuances
• IPO ratings for companies listing in IFSC
• Trade finance instruments like letters of credit and certificates of deposit
• The development strengthens India’s position as a global financial hub and enhances the capital markets ecosystem in IFSC.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Punjab Cabinet Approved Mukh Mantri Mawan Dheeyan Satkar Yojana to Provide Monthly Financial Assistance to Women through Direct Benefit Transfer Mechanism in Financial Year 2026 to 2027

• The Cabinet of Punjab led by Chief Minister Bhagwant Singh Mann approved a new women centric welfare scheme named Mukh Mantri Mawan Dheeyan Satkar Yojana to ensure direct economic support to women across the state.
• The scheme marks a major step towards strengthening financial security and social empowerment of women through direct income support in Punjab.
• The Government of Punjab sanctioned Rupees 9,300 crore for implementation of the scheme in the State Budget for Financial Year 2026 to 2027, which was presented in the Punjab Legislative Assembly in March 2026.
• The Mukh Mantri Mawan Dheeyan Satkar Yojana has been designed as a Direct Benefit Transfer initiative, under which financial assistance will be transferred directly into the bank accounts of eligible women beneficiaries.
• The scheme is expected to benefit nearly 97 percent of adult women in Punjab, making it a large scale women focused Direct Benefit Transfer initiative in the state.
• Under the eligibility criteria of the scheme:
• women aged 18 years or above
• women registered as voters in Punjab
  will be eligible to receive benefits under the scheme.
• Under the provisions of the scheme:
• eligible women beneficiaries will receive Rupees 1,000 per month as financial assistance
• women belonging to Scheduled Caste category will receive Rupees 1,500 per month as financial assistance
• The scheme has been introduced as part of the broader efforts of the Government of Punjab to strengthen women’s financial inclusion, social security coverage, and economic empowerment across the state through Direct Benefit Transfer mechanism.

RECENT NEWS

• The state of Punjab Vidhan Sabha has unanimously passed the Sri Guru Tegh Bahadur World-Class University Bill 2026. This new university will be established at Sri Anandpur Sahib. This place is the place of deep historical and spiritual significance. 

About Punjab:

• Chief Minister: Bhagwant Mann ​
• Governor: Gulab Chand Kataria
• Capital: Chandigarh ​
• Wildlife Sanctuaries: Abohar Wildlife Sanctuary, Aishvan Wildlife Sanctuary, Bir Bhadson Wildlife Sanctuary, Bir Bunerheri Wildlife Sanctuary, Bir Dosanjh Wildlife Sanctuary ​

Ministry of Electronics and Information Technology Approved 29 Proposals under Fourth Tranche of Electronics Components Manufacturing Scheme with Investment of Rupees 7,104 Crore to Boost Electronics Manufacturing and Employment

• Ministry of Electronics and Information Technology approved 29 proposals under the fourth tranche of the Electronics Components Manufacturing Scheme, with a projected investment of Rupees 7,104 crore and projected production of Rupees 84,515 crore, expected to generate 14,246 direct employment opportunities.
• With the latest approvals, a total of 75 applications have been approved under the Electronics Components Manufacturing Scheme, including earlier approval of 46 applications worth Rupees 54,567 crore.
• The total expected investment under the Electronics Components Manufacturing Scheme now stands at Rupees 61,671 crore, with projected generation of 65,040 direct employment opportunities.
• The approvals cover 16 electronic component categories with cross sectoral applications across:
• mobile manufacturing
• telecommunication equipment
• consumer electronics
• automotive electronics
• strategic electronics
• Information Technology hardware
• The approved components include sub assemblies, bare components, supply chain items, and capital goods and their parts to strengthen the domestic electronics manufacturing ecosystem.
• Under the sub assemblies category, approval was granted for:
• display modules
• Under the bare components category, approvals include:
• antennas
• capacitors
• connectors
• heat sinks
• lithium ion cells
• relays
• resistors
• transducers
• surface mounted device passives
• flexible printed circuit boards
• inductors
• Under the supply chain components category, approvals include:
• laminates
• metallized films for capacitors
• rare earth permanent magnets
• Approvals were also granted for capital goods and their parts, which are essential for strengthening electronics manufacturing infrastructure capacity in India.
• Major investment commitments under the approved proposals include:
• Rupees 1,683 crore investment in capital goods manufacturing across six proposals
• Rupees 1,350 crore investment in display module manufacturing across two proposals
• The Electronics Components Manufacturing Scheme aims to strengthen domestic value addition, reduce import dependence, enhance supply chain resilience, and promote employment generation in the electronics manufacturing sector in India.

About Ministry of electronics and information technology (meity).

• Cabinet Minister: Ashwini Vaishnaw.
• Minister of State (MoS): Jitin Prasada.

Andhra Pradesh to Launch India’s First Quantum Computer at Amaravati under National Quantum Mission through Amaravati Quantum Valley Project

• The Government of Andhra Pradesh announced that India’s first quantum computer will be launched at Amaravati on 14 April 2026 as part of the Amaravati Quantum Valley Project, marking a major step in advanced computing and emerging technologies development in India.
• The announcement was made by the Chief Minister of Andhra Pradesh N Chandrababu Naidu, highlighting the objective of positioning India as a global leader in next generation computing technologies.
• The initiative is being implemented with support from the National Quantum Mission to strengthen quantum research, innovation ecosystems, and technological self reliance in India.
• Quantum computers use the principles of quantum mechanics and operate through quantum bits known as qubits, which can represent 0, 1, or both simultaneously through superposition, unlike classical computers that operate only with binary bits 0 or 1.
• The launch of India’s first quantum computer is expected to:
• accelerate scientific research and innovation
• enable breakthroughs in cryptography, artificial intelligence, and drug discovery
• strengthen high performance computing capabilities in India
• enhance India’s position in the global digital economy
• The Amaravati Quantum Valley Project is envisioned as a world class ecosystem for quantum research, startups, academia industry collaboration, and advanced technology infrastructure.
• The Amaravati Quantum Valley Project will include:
• eight dedicated towers for quantum computing and innovation activities
• infrastructure support for research institutions and technology startups
• an integrated collaboration platform connecting academia, industry, and government institutions
• The initiative aims to transform Amaravati into a global quantum technology hub by the year 2030.
• The project supports the vision of self reliance in high technology sectors under Atmanirbhar Bharat, with focus on reducing dependence on imported quantum technologies and promoting domestic innovation and manufacturing under the Made in Amaravati initiative.
• As part of implementation progress, Memoranda of Understanding have been signed with 15 companies, and 7 companies are already operational at Medha Towers located in Vijayawada.
• The Amaravati Quantum Valley Project includes collaborations with major national and international institutions such as:
• IBM
• Centre for Development of Advanced Computing
• Defence Research and Development Organisation
• Bhabha Atomic Research Centre
• Indian Institute of Technology Madras
• Indian Institute of Technology Tirupati
• The initiative is expected to significantly strengthen India’s quantum computing ecosystem, innovation capacity, research infrastructure, and global competitiveness in emerging technologies.

RECENT NEWS

• The Andhra Pradesh government has announced a financial incentive of ₹25,000 for couples who have a second or third child. This idea came up to as part of a new population boost policy introduced by Chief Minister N. Chandrababu Naidu. 

About Andhra Pradesh:

• Chief Minister: N. Chandrababu Naidu 
• Governor: S. Abdul Nazeer
• Capital: Amaravati
• National Parks: Sri Venkateswara National Park, Papikonda National Park
• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

Bhavasagara Referral Centre at Centre for Marine Living Resources and Ecology Kochi Designated as National Repository for Deep Sea Fauna under Biological Diversity Act 2002

• The Bhavasagara Referral Centre at Centre for Marine Living Resources and Ecology located in Kochi has been designated as the National Repository for Deep Sea Fauna under the Biological Diversity Act 2002 to strengthen marine biodiversity conservation and deep sea research in India.
• The Centre for Marine Living Resources and Ecology functions under the Ministry of Earth Sciences and plays an important role in marine biodiversity assessment and ocean ecosystem research.
• The designation of the Bhavasagara Referral Centre as a National Repository was granted by the Ministry of Environment Forest and Climate Change under provisions of the Biological Diversity Act 2002.
• The recognition transforms the Bhavasagara Referral Centre into a national level scientific facility responsible for preservation, documentation, and study of deep sea biodiversity of India.
• The repository currently houses more than 3,500 scientifically classified marine specimens, making it one of the largest deep sea biodiversity collections in India.
• The collection at the Bhavasagara Referral Centre includes diverse deep sea organisms such as:
• invertebrates including cnidarians, molluscs, arthropods, and echinoderms
• vertebrates including deep sea fishes such as elasmobranchs and teleosts
• Under the provisions of the Biological Diversity Act 2002, the Bhavasagara Referral Centre will perform important functions including:
• secure preservation of biological specimens along with Deoxyribonucleic Acid data
• acting as the custodian of newly discovered deep sea species
• supporting taxonomy development and marine biodiversity research
• According to M Ravichandran, the repository will enhance India’s deep sea research capabilities and support sustainable marine resource management.
• The initiative will contribute to strengthening India’s blue economy, which focuses on the sustainable use of ocean resources for economic development, livelihoods, and ecosystem conservation.
• The designation also aligns with the United Nations Decade of Ocean Science for Sustainable Development aimed at strengthening ocean science for sustainable development during 2021 to 2030.

Solid Waste Management Rules 2026 Notified by Ministry of Environment Forest and Climate Change Effective from 1 April 2026 to Strengthen Waste Segregation and Circular Economy Framework

• The Solid Waste Management Rules 2026 were notified on 27 January 2026 by the Ministry of Environment Forest and Climate Change and came into force from 1 April 2026, replacing the earlier Solid Waste Management Rules 2016 framework to strengthen scientific waste management and environmental protection.
• The new rules introduce a structured and accountable system for solid waste management across India, focusing on waste segregation at source, digital monitoring, circular economy principles, and enhanced accountability of waste generators and local authorities.
• A major reform under the Solid Waste Management Rules 2026 is the introduction of four-stream waste segregation at source, making it mandatory for households and institutions to segregate waste into:
• wet waste biodegradable waste
• dry waste recyclable waste
• sanitary waste
• special care waste
• This segregation framework is expected to improve recycling efficiency, reduce landfill burden, and strengthen scientific waste processing systems.
• The rules emphasise adoption of the circular economy approach, promoting reuse, recycling, and resource recovery instead of disposal, thereby reducing environmental impact.
• A key feature introduced is the Extended Bulk Waste Generator Responsibility framework, under which bulk waste generators such as large institutions, hotels, and residential complexes are required to:
• ensure proper segregation and collection of waste
• manage transportation and processing of waste
• follow environmentally sound disposal practices
• To improve transparency and compliance, the Government of India has introduced a centralised online tracking system for monitoring all stages of waste handling, including:
• collection
• transportation
• processing
• disposal
• The digital monitoring system will support authorities in:
• identifying gaps in waste management systems
• improving compliance with waste management standards
• ensuring timely reporting and accountability
• The Solid Waste Management Rules 2026 also mandate stronger industrial participation in waste utilisation, particularly through increased use of Refuse Derived Fuel in cement plants and waste-to-energy units.
• Under the revised targets, the Refuse Derived Fuel substitution rate is to be increased from the current 5 percent to 15 percent over the next six years, helping reduce dependence on fossil fuels and promoting sustainable energy alternatives.
• The rules clearly define the responsibilities of Urban Local Bodies, Rural Local Bodies, State Governments, Union Territory Administrations, and Central Ministries to ensure effective implementation of scientific waste management practices.
• The framework also introduces graded criteria for faster land allocation for waste processing facilities, which is expected to accelerate infrastructure development for waste management across India.

Kaynes Technology India Limited Semiconductor Plant Inaugurated by Prime Minister Shri Narendra Modi in Sanand Gujarat to Strengthen India Semiconductor Manufacturing Ecosystem

• Prime Minister Shri Narendra Modi inaugurated the Kaynes Technology India Limited Semiconductor Plant at Sanand, marking a major step in strengthening India’s semiconductor manufacturing capabilities and advancing India’s ambition to become a global technology leader.
• The semiconductor facility established by Kaynes Technology India Limited has commenced domestic semiconductor chip production, contributing to India’s broader plan to build a strong semiconductor ecosystem.
• The plant will manufacture advanced semiconductor components, including Intelligent Power Modules, which are crucial for sectors such as electric vehicles, industrial automation, electronics manufacturing, and energy-efficient systems.
• Prime Minister Shri Narendra Modi highlighted that this development is part of a rapidly expanding semiconductor ecosystem in India, with several semiconductor projects currently under implementation across different states.
• The facility will help position India as a reliable partner in the global semiconductor supply chain and reduce dependence on semiconductor imports.
• The project aligns with the vision of Make in India Make for the World, with a significant portion of production linked to global markets, including partnerships with companies from the United States of America.
• The plant will supply Intelligent Power Modules to global firms and strengthen India’s integration into global semiconductor value chains, including connections with Silicon Valley technology supply networks.
• Semiconductor components produced at the facility will support:
• electric vehicles and sustainable mobility
• industrial automation and heavy machinery
• advanced electronics and energy-efficient technologies
• The initiative is part of the India Semiconductor Mission launched in 2021, which aims to develop a comprehensive semiconductor manufacturing ecosystem in India.
• The India Semiconductor Mission focuses on promoting domestic semiconductor manufacturing and design capabilities and reducing dependence on global semiconductor imports.
• At present, semiconductor projects worth more than ₹1.6 lakh crore are under implementation across multiple states, highlighting India’s commitment to strengthening its semiconductor infrastructure.
• The Government of India is also advancing Semiconductor Mission 2.0, which focuses on developing the complete semiconductor supply chain including materials and equipment manufacturing.

RECENT NEWS

• The Gujarat state government has created history after passing the Uniform Civil Code (UCC) Bill 2026 in the State Assembly on March 24 2026. It was tabled by Chief Minister Bhupendra Patel and the Bill proposes the common legal framework for marriage, divorce, succession and live-in relationships across all religions. 

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Nations Establishes Task Force to Address Disruptions and Protect Trade in the Strait of Hormuz

• Antonio Guterres, the Secretary-General of the United Nations (UN), announced the formation of a dedicated task force to address challenges arising from disruptions in the Strait of Hormuz due to the West Asia conflict.
• The task force will be led by Jorge Moreira da Silva, who is the Executive Director (ED) of the United Nations Office for Project Services (UNOPS).
• The task force will include representatives from key international organisations such as United Nations Conference on Trade and Development (UNCTAD), International Maritime Organization (IMO), and International Chamber of Commerce (ICC).
• The primary mandate of the task force is to develop technical mechanisms to address humanitarian needs arising in the Strait of Hormuz region.
• The initiative focuses on ensuring continuity of critical maritime operations and humanitarian support amid disruptions.
• For political management, Jean Arnault, the Personal Envoy of the UN Secretary-General, will engage with relevant member states.
• The task force, along with political engagement, aims to provide a coordinated international response to maritime and humanitarian challenges.
• Overall, the initiative reflects the UN’s proactive approach in addressing geopolitical disruptions, maritime security, and humanitarian concerns in a strategically important global chokepoint.

CURRENT AFFAIRS: AWARDS AND HONOURS

International Booker Prize 2026 Shortlist Announced Featuring Six Translated Novels from Around the World

• The International Booker Prize 2026 shortlist has been announced featuring six translated novels from across the world, highlighting themes such as human struggle, identity, exile, political unrest, and resilience.
• The award recognises outstanding fiction translated into English and published in the United Kingdom or Ireland, promoting global storytelling and cross-cultural literary exchange.
• According to judging panel chair Natasha Brown, the shortlisted works collectively reflect hope, emotional depth, insight, and the “burning humanity” of contemporary global literature.
• The six shortlisted books for International Booker Prize 2026 are:
• The Nights Are Quiet in Tehran by Shida Bazyar, which narrates the story of an Iranian family from the 1979 Revolution to exile, highlighting political upheaval and generational trauma
• She Who Remains by Rene Karabash, which explores identity and survival through the life of a woman living as a man in the Albanian mountains
• The Director by Daniel Kehlmann, which depicts the life of filmmaker G. W. Pabst during Hollywood and Nazi-era Austria
• On Earth As It Is Beneath by Ana Paula Maia, which presents a dark narrative set in a harsh penal colony exploring morality and survival
• The Witch by Marie NDiaye, which tells a dreamlike story of a sorceress and her daughters
• Taiwan Travelogue by Yang Shuang-zi, which portrays a historical journey of culture and identity in 1930s Taiwan
• The shortlisted books explore important themes such as:
• life in exile
• cultural belonging
• political resistance
• human resilience amid hardship
• hope, endurance, emotional strength, and human connection
• The International Booker Prize, since 2016 in its present format, awards £50,000 prize money, which is equally shared between the author and translator, recognising the importance of translated literature in global literary exchange.
• The winner of the International Booker Prize 2026 will be announced on 19 May 2026 at a ceremony to be held at Tate Modern, and the winning book will join the list of globally recognised literary works with enhanced international readership and influence.

CURRENT AFFAIRS : DEFENCE NEWS

Fourth Survey Vessel (Large) ‘Sanshodhak’ handed over to Indian Navy at Garden Reach Shipbuilders & Engineers Limited Kolkata

• INS Sanshodhak (Yard 3028), the last Survey Vessel (Large) ship, was delivered to the Indian Navy at Garden Reach Shipbuilders & Engineers Limited (GRSE), Kolkata.
• The vessel was designed by the Indian Navy’s Warship Design Bureau (WDB), highlighting indigenous warship design capability.
• The contract for four Survey Vessel (Large) ships was signed on 30 October 2018.
• The earlier ships of the class include INS Sandhayak (03 Feb 2024), INS Nirdeshak (18 Dec 2024), and INS Ikshak (06 Nov 2025).
• The SVL ships are built as per Indian Register of Shipping classification rules, ensuring high safety and quality standards.
• INS Sanshodhak is capable of full-scale coastal and deep-water hydrographic surveys, including mapping harbour approaches and navigational channels.
• The ship also performs oceanographic and geophysical data collection for both defence and civil applications.
• The vessel has a displacement of about 3,400 tons and an overall length of 110 meters, making it a large survey platform.
• It is equipped with advanced hydrographic systems such as Data Acquisition and Processing System, Autonomous Underwater Vehicle (AUV), Remotely Operated Vehicle (ROV), DGPS positioning system, and Digital Side Scan Sonar.
• Powered by two diesel engines, the ship can achieve speeds of over 18 knots.
• The keel was laid in June 2022 and the ship was launched in June 2023, followed by extensive harbour and sea trials before delivery.
• The ship has an indigenous content of over 80%, reflecting strong progress in Aatmanirbhar Bharat (self-reliance in defence production).
• The project involved multiple stakeholders, MSMEs, and Indian industries, boosting the domestic defence ecosystem.
• The delivery of INS Sanshodhak enhances India’s maritime survey capability and strengthens its presence in the Indian Ocean Region (IOR).

Recent News :

• In March 2026, INS Dunagiri (Yard 3023), the fifth ship of Nilgiri Class (Project 17A), was delivered to the Indian Navy at GRSE, Kolkata.

Indian Navy holds Indian Ocean Naval Symposium (IONS) Maritime Exercise (IMEX) Tabletop Exercise 2026 maritime exercise in Kochi, Kerala

• The Indian Navy (IN) conducted the 3rd edition of the Indian Ocean Naval Symposium (IONS) Maritime Exercise (IMEX) Tabletop Exercise (TTX) 2026 at the Maritime Warfare Centre, Southern Naval Command (SNC), Kochi, Kerala.
• The exercise marked a key milestone as India assumed the IONS Chairmanship for the 2026–2028 cycle after a gap of 16 years since 2010.
• The aim of IMEX TTX 2026 was to address non-traditional maritime security challenges in the Indian Ocean Region (IOR) and enhance coordination, shared understanding, and operational frameworks under IONS.
• The exercise involved participation from IONS member navies, officers from Indian Ocean Ship–Security and Growth for All in the Region (IOS-SAGAR), and the Indian Navy.
• Participating countries included Bangladesh, France, Indonesia, Kenya, Maldives, Mauritius, Myanmar, Seychelles, Singapore, Sri Lanka, Tanzania, and Timor-Leste.
• The exercise was conducted as a Tabletop Exercise (TTX) in a simulated environment, addressing multi-scenario maritime contingencies without live deployment constraints.
• The event promoted maritime cooperation, professional exchange, and mutual trust among member nations.
• It strengthened India’s maritime leadership role in the Indian Ocean Region (IOR), a region crucial for global trade, energy security, and connectivity.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Puja Garg Becomes 43rd National President of FICCI Ladies Organisation (FLO)

• Puja Garg has assumed charge as the 43rd National President of FICCI Ladies Organisation (FLO), succeeding Poonam Sharma (42nd President, 2025–26).
• The tenure of Puja Garg is 2026–27, during which she aims to strengthen women’s entrepreneurship, industry participation, and economic empowerment.
• Under her leadership, FLO will focus on facilitating an enabling ecosystem for women’s economic growth and increasing their participation in India’s industrial development.
• Puja Garg is a strategic leader and entrepreneur associated with the Tex India Group under Distributors India Group, a pharmaceuticals and FMCG logistics network across 20+ states.
• She co-founded the Amara Fashion and Lifestyle Exhibition (2010), a platform featuring national and international designers across Lucknow, Varanasi, and London.
• As Past Chairperson of FICCI FLO Lucknow, she led high-impact grassroots initiatives focused on women’s economic empowerment and scalable village development across multiple chapters.
• She received the Aatmanirbhar Nari Award (2021) by Amar Ujala for contributions during the COVID-19 period, presented by the Minister of State for MSME.
• She was also honoured on International Women’s Day (2021) under Mission Shakti, by the Deputy Chief Minister of Uttar Pradesh, in collaboration with Femina India and The Times Group.
• As a National Initiative Head, she led village adoption and holistic development programmes, promoting scalable grassroots transformation models.

About FICCI Ladies Organisation :

• FLO (FICCI Ladies Organisation) is the women’s wing of FICCI and is the oldest women-led and women-centric business chamber in Southeast Asia.
• FLO was established in 1983 and is headquartered in New Delhi, with 21 chapters across India.
• The organisation represents around 15,000 women entrepreneurs, professionals, and corporate executives.

IndiGo Appoints Willie Walsh as Chief Executive Officer, Subject to Regulatory Approval

• InterGlobe Aviation (IndiGo) has appointed Willie Walsh as its Chief Executive Officer (CEO), subject to regulatory approvals.
• Willie Walsh, currently serving as Director General of the International Air Transport Association (IATA), will step down on 31 July 2026 and is expected to join IndiGo on 3 August 2026.
• He brings extensive experience, having previously served as CEO of British Airways, International Airlines Group (IAG), and Aer Lingus.
• Willie Walsh will succeed Pieter Elbers, who resigned in March 2026, while interim leadership is being handled by Rahul Bhatia.
• IndiGo is India’s largest airline, operating over 400 aircraft and approximately 2,200 daily flights.
• The airline has strong plans for global expansion, strengthening its position in the international aviation sector.

Ashwini Bhide, Former Mumbai Metro Chief, Appointed First Woman Municipal Commissioner of Mumbai

• Ashwini Bhide, an IAS officer of 1995 batch, has been appointed as the new Municipal Commissioner of Mumbai by the Maharashtra Government.
• She became the first woman Municipal Commissioner in the 160-year history of the civic body (Brihanmumbai Municipal Corporation - BMC).
• She succeeds Bhushan Gagrani, who retired from government service.
• Currently, she serves as Additional Chief Secretary in the Chief Minister’s Office (Maharashtra).
• Bhide is known for her role as Managing Director of Mumbai Metro Rail Corporation (MMRCL).
• She led the construction of Mumbai Metro’s first underground line (33.5 km) connecting Cuffe Parade to Aarey Colony.
• The project involved large-scale tunnelling through congested urban areas, making it a complex infrastructure achievement.
• Due to her leadership in the metro project, she earned the reputation as “Mumbai’s Metro Woman”.
• The project also faced controversy over the cutting of 2,000 trees in Aarey Colony for a metro car shed, leading to protests by environmental activists.
• The issue became politically significant, with a temporary stay ordered by then CM Uddhav Thackeray, later reversed in 2022 under CM Eknath Shinde.
• The first phase of the underground metro line was opened in October 2024, and the full 33 km stretch was inaugurated a year later.
• In her new role, she will oversee infrastructure development and monsoon preparedness of Mumbai city.
• The Brihanmumbai Municipal Corporation (BMC) is India’s largest civic body, with an annual budget exceeding ₹80,000 crore.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Artemis II to Launch First Crewed Lunar Mission Since Apollo, Set to Orbit Moon and Return Safely

• Artemis II marks humanity’s first crewed Moon mission in over 50 years since the Apollo Program, aiming to orbit the Moon and return safely.
• The mission will send four astronauts on a 10-day journey using National Aeronautics and Space Administration’s (NASA) Space Launch System (SLS) and Orion spacecraft.
• Unlike Apollo 11, Artemis II will not land on the Moon, but will orbit and test critical systems, preparing for future missions like Artemis III.
• The spacecraft will reach a distance of 248,655 miles from Earth and travel a total of 685,000 miles, with a splashdown in the Pacific Ocean around April 10, surpassing the Apollo 13 record of 248,000 miles.
• The crew includes Reid Wiseman (Commander), Victor Glover (Pilot), Christina Koch, and Jeremy Hansen.
• The mission achieves key milestones: first woman (Christina Koch), first person of colour (Victor Glover), and first non-American (Jeremy Hansen) to travel to the Moon’s vicinity, with live streaming on NASA+ and NASA TV.
• NASA announced plans for nuclear-powered space missions, including Space Reactor-1 Freedom mission to Mars (2028), which would be the first nuclear-powered interplanetary spacecraft.
• Nuclear energy is expected to provide greater efficiency and faster deep-space travel in future missions.
• The new era of lunar exploration involves global players like ISRO, China, and Japan, with India planning a human Moon landing by 2040.
• India is also a signatory to the Artemis Accords, enabling international collaboration in lunar missions.

Recent News :

• In March 2026, The National Aeronautics and Space Administration (NASA) announced that Van Allen Probe A made its final re-entry into Earth’s atmosphere after nearly 14 years in orbit.

European Space Agency Launches First Celeste Satellites to Test Low Earth Orbit Navigation Layer

• The European Space Agency (ESA) successfully launched the first two In-Orbit Demonstrators (IOD)-1 and IOD-2 under its Celeste Mission from the Rocket Lab launch site, New Zealand, to demonstrate a Low Earth Orbit (LEO) navigation layer.

Key Highlights :

• The mission aims to strengthen Europe’s satellite navigation system by complementing existing Galileo (Medium Earth Orbit - MEO) and EGNOS (European Geostationary Navigation Overlay Service) systems, marking a shift towards a multi-layered navigation architecture.
• The primary objective of the Celeste Mission is to test a LEO-based Positioning, Navigation and Timing (PNT) system to improve the resilience, accuracy, and coverage of satellite navigation services.
• Under the mission, two satellites named IOD-1 and IOD-2 were launched, weighing 20 kg and 30 kg respectively, and are operating in Low Earth Orbit (LEO) at an altitude of around 500–560 km.
• The satellites were developed by GMV (Spain) and Thales Alenia Space (France), showcasing international collaboration in advanced space technology.
• The launch was carried out using the Electron rocket of Rocket Lab (New Zealand), highlighting a New Space approach focused on faster, cost-effective, and flexible satellite deployment.
• The Celeste Mission is designed to enhance future satellite navigation resilience by integrating a LEO navigation layer with existing global navigation systems.
• Overall, the mission represents a major step towards a next-generation multi-orbit navigation system, improving global Positioning, Navigation and Timing (PNT)

CURRENT AFFAIRS : OBITUARIES

Ex-Suriname President Chandrikapersad Santokhi passed away at 67

• Chandrikapersad “Chan” Santokhi, former President of Suriname, passed away at the age of 67.
• He served as the President of Suriname from 2020 to 2025, a tenure marked by economic reforms and strengthened India–Suriname relations.
• Santokhi was a prominent leader of the Indian diaspora, highlighting strong cultural and historical ties with India.
• He was honoured with the Pravasi Bharatiya Samman (2021), the highest Indian award for overseas Indians, instituted by the Ministry of External Affairs (MEA).
• He became the first Surinamese President to take oath in Sanskrit, symbolising deep cultural linkage with India.
• Prior to his presidency, he served as Minister of Justice and Police (2005–2010) in Suriname.
• He was also a former Police Commissioner, known for investigating the 1982 political killings in Suriname.
• Suriname is a former Dutch colony located in South America.
• His leadership contributed to strengthening bilateral ties with India and enhancing the role of the Indian diaspora globally.

About Suriname :

• President : Jennifer Geerlings-Simons
• Capital : Paramaribo
• Currency : Surinamese dollar (SRD)

CURRENT AFFAIRS: IMPORTANT DAYS

World Autism Awareness Day 2026 Observed on 2 April with Theme “Autism and Humanity Every Life Has Value”

• United Nations observes World Autism Awareness Day every year on 2 April to promote awareness about the rights, inclusion, and well being of persons with autism across the world.
• World Autism Awareness Day 2026 was observed on 2 April 2026 with the theme “Autism and Humanity – Every Life Has Value”, highlighting the importance of dignity, equality, and inclusion of persons with autism in society.
• The day was established by the United Nations General Assembly in 2007, and it has been observed annually since then to increase global awareness about autism spectrum disorder and promote support systems for affected individuals.
• Autism Spectrum Disorder is a neurodevelopmental condition that generally begins in early childhood and continues throughout adulthood, affecting communication, behaviour, and social interaction abilities.
• In the 1970s, treatment approaches for autism included secretin injections and the use of Risperidone, which acts on dopamine receptors to help manage certain behavioural symptoms.
• In 1995, researcher Sula Wolff published findings based on a 30 year study, stating that children with Asperger syndrome represent the more subtle and highly able end of the autism spectrum, often becoming independent adults with exceptional abilities.
• In 2013, the American Psychiatric Association introduced a unified category of Autism Spectrum Disorder in the Fifth Edition of the Diagnostic and Statistical Manual of Mental Disorders, standardising the classification of autism related conditions under a single diagnostic category.

Daily CA One- Liner: April 2^nd

• The Cabinet of Punjab led by Chief Minister Bhagwant Singh Mann approved a new women centric welfare scheme named Mukh Mantri Mawan Dheeyan Satkar Yojana to ensure direct economic support to women across the state
• Ministry of Electronics and Information Technology approved 29 proposals under the fourth tranche of the Electronics Components Manufacturing Scheme, with a projected investment of Rupees 7,104 crore and projected production of Rupees 84,515 crore, expected to generate 14,246 direct employment opportunities
• The Government of Andhra Pradesh announced that India’s first quantum computer will be launched at Amaravati on 14 April 2026 as part of the Amaravati Quantum Valley Project, marking a major step in advanced computing and emerging technologies development in India
• The Bhavasagara Referral Centre at Centre for Marine Living Resources and Ecology located in Kochi has been designated as the National Repository for Deep Sea Fauna under the Biological Diversity Act 2002 to strengthen marine biodiversity conservation and deep sea research in India
• The Solid Waste Management Rules 2026 were notified on 27 January 2026 by the Ministry of Environment Forest and Climate Change and came into force from 1 April 2026, replacing the earlier Solid Waste Management Rules 2016 framework to strengthen scientific waste management and environmental protection
• Prime Minister Shri Narendra Modi inaugurated the Kaynes Technology India Limited Semiconductor Plant at Sanand, marking a major step in strengthening India’s semiconductor manufacturing capabilities and advancing India’s ambition to become a global technology leader
• The International Booker Prize 2026 shortlist has been announced featuring six translated novels from across the world, highlighting themes such as human struggle, identity, exile, political unrest, and resilience
• United Nations observes World Autism Awareness Day every year on 2 April to promote awareness about the rights, inclusion, and well being of persons with autism across the world.
• The Government of India has decided to keep interest rates unchanged for small savings schemes for the June quarter.
• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹31.80 lakh on Airtel Payments Bank Limited for non-compliance with certain provisions of the directions issued by RBI on ‘Disclosure in Financial Statements’.
• The Central Bank of India has imposed a monetary penalty of ₹63.60 lakh by the Reserve Bank of India (RBI).
• Moody’s Investors Service has applied to set up a branch in GIFT IFSC (Gujarat International Finance Tec-City), marking a major step in strengthening India’s offshore financial hub.
• Antonio Guterres, the Secretary-General of the United Nations (UN), announced the formation of a dedicated task force to address challenges arising from disruptions in the Strait of Hormuz due to the West Asia conflict.
• INS Sanshodhak (Yard 3028), the last Survey Vessel (Large) ship, was delivered to the Indian Navy at Garden Reach Shipbuilders & Engineers Limited (GRSE), Kolkata.
• The Indian Navy (IN) conducted the 3rd edition of the Indian Ocean Naval Symposium (IONS) Maritime Exercise (IMEX) Tabletop Exercise (TTX) 2026 at the Maritime Warfare Centre, Southern Naval Command (SNC), Kochi, Kerala.
• Puja Garg has assumed charge as the 43rd National President of FICCI Ladies Organisation (FLO), succeeding Poonam Sharma (42nd President, 2025–26).
• InterGlobe Aviation (IndiGo) has appointed Willie Walsh as its Chief Executive Officer (CEO), subject to regulatory approvals.
• Ashwini Bhide, an IAS officer of 1995 batch, has been appointed as the new Municipal Commissioner of Mumbai by the Maharashtra Government.
• Artemis II marks humanity’s first crewed Moon mission in over 50 years since the Apollo Program, aiming to orbit the Moon and return safely.
• The European Space Agency (ESA) successfully launched the first two In-Orbit Demonstrators (IOD)-1 and IOD-2 under its Celeste Mission from the Rocket Lab launch site, New Zealand, to demonstrate a Low Earth Orbit (LEO) navigation layer.
• Chandrikapersad “Chan” Santokhi, former President of Suriname, passed away at the age of 67.