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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Proposes Revamp of Business Correspondent Model to Strengthen Last-Mile Banking and Financial Inclusion

• The Reserve Bank of India (RBI) has proposed a revamp of the Business Correspondent (BC) model to strengthen last-mile banking delivery and financial inclusion.

Key Highlights :

• The draft framework introduces a three-tier banking delivery structure: Bank Branches, Business Correspondent–Banking Outlets (BC-BO), and Business Correspondent–Banking Touchpoints (BC-BT).
• The RBI has proposed classification of BCs into two categories (BC-BO and BC-BT) based on their functions, service scope, and operational structure, along with uniform wage and remuneration standards.
• BC-BOs will function as fixed-point service units, offering branch-like banking services with minimum working hours of 4 hours per day for at least 5 days a week.
• In contrast, BC-BTs will operate without fixed timings and will handle smaller-value transactions only, providing flexible and limited banking services.
• Both BC-BOs and BC-BTs will work exclusively for a single bank, ensuring better control and accountability in service delivery.
• The RBI has also proposed uniformity in commission and remuneration structures, where BC-BOs will receive fixed + variable pay, while BC-BTs will receive only variable payouts.
• The Indian Banks’ Association (IBA) will design a benchmark-linked remuneration framework, with incentives partly based on customer satisfaction levels.
• The draft norms propose including Business Facilitators (BFs) under the BC framework and phasing out the BF category by September 30, 2026, requiring transition into the BC system.
• Banks will be required to conduct strict due diligence on BCs, including financial strength, governance standards, and operational capability assessments before onboarding.
• The draft is based on recommendations of a multi-agency committee comprising RBI, Department of Financial Services (DFS), IBA, and NABARD, aimed at improving efficiency and financial inclusion delivery mechanisms.
• The move comes amid a decline in BC outlets in rural areas, which fell to 11 lakh in FY25 from 15.48 lakh in FY24, highlighting the need for strengthening last-mile banking infrastructure.

Recent News :

• In April 2026, The Reserve Bank of India (RBI) kept the Foreign Portfolio Investor (FPI) investment limits in Government Securities (G-Secs), State Government Securities (SGSs), and Corporate Bonds unchanged for FY 2026–27.

Pradhan Mantri MUDRA Yojana Completes 11 Years of Empowering Small and Micro Entrepreneurs

• The Pradhan Mantri MUDRA Yojana (PMMY) was launched by Narendra Modi on April 8, 2015, marking 11 years of success in empowering India’s grassroots entrepreneurs.
• The scheme provides easy, collateral-free loans up to ₹20 lakh for non-corporate and non-farm income-generating activities, aiming to bridge the gap in financial accessibility for small-scale business ventures.

Key Highlights :

• Micro, Small, and Medium Enterprises (MSMEs) are recognized as the backbone of India’s industrial ecosystem, supporting major corporations and driving balanced economic development.
• PMMY is characterized by its mission to “Fund the Unfunded”, ensuring credit access to entrepreneurs traditionally excluded from the formal banking system.
• According to Nirmala Sitharaman, over 57.79 crore loans have been sanctioned, amounting to ₹40.07 lakh crore in disbursements, with two-thirds of loans going to women entrepreneurs and approximately one-fifth extended to first-time entrepreneurs.
• The scheme has created self-employment opportunities for marginalized sections, including Scheduled Castes/Scheduled Tribes, Other Backward Classes (51% of loan beneficiaries), and women (67% of loan beneficiaries).
• PMMY operates on three pillars of financial inclusion: Banking the Unbanked, Securing the Unsecured, and Funding the Unfunded, leveraging technology and multi-stakeholder collaboration.
• MUDRA loans are offered in four categories based on growth stage and funding needs:
• Shishu: loans up to ₹50,000
• Kishor: loans above ₹50,000 up to ₹5 lakh
• Tarun: loans above ₹5 lakh up to ₹10 lakh
• TarunPlus: loans above ₹10 lakh up to ₹20 lakh
• Loans cover term financing and working capital needs across manufacturing, trading, service sectors, and allied agricultural activities like poultry, dairy, and beekeeping.
• Interest rates are governed by RBI guidelines with flexible repayment terms to support entrepreneurs.
• Achievements as on 27.03.2026:
• Women borrowers: ₹9.02 lakh crore (Shishu), ₹6.22 lakh crore (Kishor), ₹1.09 lakh crore (Tarun)
• Minority borrowers: ₹1.33 lakh crore (Shishu), ₹1.54 lakh crore (Kishor), ₹0.62 lakh crore (Tarun)
• New entrepreneurs/accounts:
• Shishu: 80 crore accounts, ₹2.47 lakh crore sanctioned, ₹2.42 lakh crore disbursed
• Kishor: 79 crore accounts, ₹5.09 lakh crore sanctioned, ₹4.87 lakh crore disbursed
• Tarun: 55 lakh accounts, ₹4.82 lakh crore sanctioned, ₹4.67 lakh crore disbursed
• PMMY has democratized entrepreneurship in India, enabling financial inclusion, self-employment, and support for marginalized communities, contributing to the vision of Viksit Bharat by 2047.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary

Morgan Stanley Cuts India’s Financial Year 2026-27 Gross Domestic Product Growth Forecast to 6.2%

• Morgan Stanley has cut India’s Real Gross Domestic Product (GDP) growth forecast to 6.2% for Financial Year 2026-27 (FY27), a reduction of 30 basis points (bps) from the earlier 6.5% estimate, due to the ongoing conflict in West Asia.
• For Q1 FY27 (April–June), GDP growth is projected at 5.9% YoY, reflecting a slowdown in economic activity.
• The Q1FY27 projection is based on softening industrial activity, margin compression, and tightening external financing conditions.
• The firm expects crude oil prices to average around $95 per barrel (bbl) in FY27, with gas availability constraints adding pressure.
• Higher oil prices and curtailed industrial supply are increasing input costs, leading to selective production cuts and imported inflation amid rupee weakness.
• CPI inflation is projected to average 5.1% YoY in FY27, driven by higher production costs, currency weakness, and firm food prices.
• India’s Current Account Deficit (CAD) is expected to widen by ~150 bps to ~2.5% of GDP in FY27, compared to ~1% in the previous financial year, mainly due to higher oil prices.
• The Fiscal Deficit is projected at around 4.3% of GDP, indicating continued fiscal pressure.
• The key risk factor is crude oil prices, as a sharp rise in Brent crude to $150/bbl for a quarter could significantly impact macro stability.
• In such a high oil price scenario, GDP growth may fall to ~5.7%, CPI inflation may exceed 6%, and CAD may widen to ~3% of GDP.
• India is a net commodity importer, with oil accounting for ~60% of total commodity imports (as of 2025).
• Oil contributes ~80% to India’s energy consumption, with ~85% of demand met through imports, making the economy highly sensitive to global oil price fluctuations.

Recent News :

• In April 2026, The Moody’s Ratings (US-based credit rating agency) released its Credit Opinion Report on India, revising India’s Gross Domestic Product (GDP) growth forecast for FY2026–27 (FY27) downward by 80 basis points to 6%, from the earlier estimate of 6.8%.

Bajaj Alternate Investment Management Limited Receives Securities and Exchange Board of India Nod to Start Portfolio Management Services

• Bajaj Alternate Investment Management Limited (Bajaj Alts) has received regulatory approval from Securities and Exchange Board of India (SEBI) to launch Portfolio Management Services (PMS).
• Portfolio Management Services (PMS) is a service where professional experts manage investments (stocks, bonds, etc.) based on investors’ goals and risk appetite.
• The approval enables the company to expand into listed equities through PMS offerings, in addition to its existing Alternate Investment Funds (AIFs)
• With this move, Bajaj Alts strengthens its position as a diversified investment platform, offering solutions across both AIFs and PMS segments.
• The PMS business will primarily target High-Net Worth Individuals (HNWIs) and Ultra High-Net Worth Individuals (UHNWIs), focusing on customised and differentiated investment strategies.
• The company will offer actively managed equity portfolios, backed by research-led investment processes and structured risk management frameworks.
• The key focus areas include strong research, effective risk management, and use of technology to enhance transparency and risk control, aiming for steady and balanced returns.
• This development reflects a growing trend of investor preference towards customised strategies and active portfolio management, especially in equity markets under evolving conditions.
• With the addition of PMS, Bajaj Alts joins a growing pool of asset managers diversifying across multiple investment products, amid increasing competition in the wealth and asset management industry.

India’s Coffee Exports Reach Record $2.13 Billion in 2025-26 fiscal

• India’s coffee exports recorded a strong growth of 17% to reach a historic high of $2.136 billion in FY26, up from $1.82 billion in FY25, driven by higher prices and a moderate rise in export volumes.
• According to the Coffee Board of India, export volumes increased by 4.65% to 07 lakh tonnes in FY26, compared to 3.88 lakh tonnes in FY25.
• In rupee terms, coffee exports rose by 22.47% to ₹18,887 crore, up from ₹15,421 crore in the previous year, reflecting strong global demand and better price realization.
• The average export price increased by 17% to ₹4,64,041 per tonne, compared to ₹3,96,525 per tonne earlier, indicating improved unit value realization for exporters.
• India produced a total of 3.63 lakh tonnes of coffee in 2024–25, with production dominated by Robusta (2.57 lakh tonnes) and Arabica (1.05 lakh tonnes) varieties.
• India’s top coffee export destinations include Italy, Germany, Russian Federation, Belgium, and Turkey, which remain the key international buyers of Indian coffee.
• India is currently the seventh largest coffee producer globally and the fifth largest coffee exporter, highlighting its growing presence in the global coffee market.

Razorpay Partners with OpenAI to Enable Instant Payment Integration in AI-Built Apps

• Razorpay has partnered with OpenAI to enable seamless integration of payment systems into AI-built applications, allowing developers to embed payments directly into apps within minutes and simplify monetisation of AI products.
• The collaboration introduces the concept of “agentic payments”, where AI systems can autonomously initiate and complete financial transactions, making commerce more automated and intelligent.
• Under this integration, developers using OpenAI’s Codex platform can connect Razorpay’s payment infrastructure via its MCP Server, enabling instant payment activation and faster product monetisation.
• The system allows developers to move from idea to revenue-generating applications in minutes instead of days, by removing traditional payment setup complexities.
• Razorpay is also integrating its services with ChatGPT, enabling businesses to manage payments, settlements, refunds, and reconciliation through conversational prompts instead of dashboards.
• This allows users to track transactions, verify bank statements, and check refund status using simple AI commands, improving efficiency and user experience in financial operations.
• The initiative is part of Razorpay’s broader push toward AI-driven commerce and automated financial ecosystems, enhancing developer and business accessibility to digital payments.
• With India processing over 20 billion UPI transactions monthly, the collaboration positions AI-built applications to achieve monetisation from day one, leveraging India’s large developer ecosystem and digital payment infrastructure.
• The launch of agentic payments, developed in collaboration with OpenAI and the National Payments Corporation of India (NPCI), aims to make AI-driven transactions seamless, autonomous, and highly scalable.

Recent News :

• In March 2026, Razorpay, an Indian fintech company, partnered with Sarvam AI, an Indian AI startup, to introduce voice-led, multilingual digital commerce solutions in India.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Unique Identification Authority of India Partnered with MapmyIndia to Enable Aadhaar Centre Location Services on Mappls App

• The Unique Identification Authority of India signed an agreement with MapmyIndia to enable the display of authorised Aadhaar centres on the Mappls App.
• The initiative was announced by the Ministry of Electronics and Information Technology, and the facility is expected to be available in the coming months.
• The feature will help users locate the nearest authorised Aadhaar centres using the Mappls App, improving accessibility to Aadhaar-related services.
• Users will also be able to identify services available at specific Aadhaar centres, including:
• Adult enrolment
• Child enrolment
• Address update services
• Mobile number update services
• Once operational, search results on the Mappls App will directly guide users to authorised Aadhaar centres, ensuring accurate navigation and service availability information.
• MapmyIndia will integrate UIDAI-provided Aadhaar centre data into the Mappls platform to enable:
• Accurate digital mapping
• Distinct listing of authorised Aadhaar centres
• Improved transparency and service accessibility for citizens

About UIDAI

• The Unique Identification Authority of India (UIDAI) is a statutory authority established on July 12, 2016, under the Ministry of Electronics and Information Technology (MeitY) to issue 12-digit Aadhaar numbers to residents. It ensures secure, biometric-based, nationwide identity verification for services, including authorized use by IBPS to prevent examination fraud.

India Post Aims to Become Global Logistics Powerhouse by 2030; Commemorative Stamp Released for 75 Years of PTC Saharanpur

• Union Communications Minister Jyotiraditya Scindia stated that India Post is rapidly transforming into a major logistics powerhouse and aims to become a global player by 2030.
• The statement was made during the release of a commemorative postage stamp marking 75 years of the Postal Training Centre Saharanpur (PTC) in New Delhi.
• The Minister highlighted that PTC Saharanpur has played a crucial role in training nearly 2.5 lakh postal employees over the past 75 years, instilling values such as service, efficiency, accuracy, and “Nation First, Service First”.
• The institute currently trains around 30,000 personnel annually, contributing significantly to capacity building in the postal sector.
• The Minister described PTC Saharanpur as an institution that transforms employees into dedicated “Karma Yogis” committed to national service.
• During the event, the Government of Goa and the Cochin Port Authority signed an agreement to onboard onto the System for Accounting and Management of Pension (SAMPANN) platform.
• SAMPANN is an integrated online pension management system for pensioners of the Department of Telecommunications, providing:
• End-to-end digital processing, sanction, and disbursement of pensions directly to bank accounts
• Online grievance redressal mechanism
• Digital profile management and transaction records
• The platform enhances transparency, efficiency, and service delivery for telecom pensioners across India.

India Became Global Leader in Issuing Internationally Recognized Certificates of Compliance under Nagoya Protocol

• India emerged as the global leader in issuing Internationally Recognized Certificates of Compliance (IRCCs) under the Nagoya Protocol on Access and Benefit-sharing (ABS).
• According to the Ministry of Environment, Forest and Climate Change, IRCCs serve as official proof that Prior Informed Consent (PIC) has been obtained and Mutually Agreed Terms (MAT) have been established between users and providers of genetic resources, ensuring transparency and fair benefit-sharing.
• As per data available on the Access and Benefit-sharing Clearing-House (ABS Clearing-House) platform:
• India issued 3,561 IRCCs out of 6,311 certificates worldwide
• This accounts for over 56% of total global IRCCs issued
• Out of 142 countries registered on the ABS Clearing-House platform, only 34 countries have issued IRCCs so far, highlighting India’s leadership in implementation.
• France ranked second with 964 IRCCs, followed by:
• Spain
• Argentina
• Panama
• Kenya
• India’s performance reflects effective implementation of the Access and Benefit-sharing framework under the Biological Diversity Act, 2002.
• The National Biodiversity Authority, along with State Biodiversity Boards and Biodiversity Management Committees, has strengthened compliance mechanisms and streamlined procedures for access and benefit-sharing of biological resources.

Maharashtra Launched “Majha Gaon, Arogyasampann Gaon” Campaign to Strengthen Rural Healthcare on World Health Day

• The Government of Maharashtra launched the “Majha Gaon, Arogyasampann Gaon” (My Village, Healthy Village) campaign on the occasion of World Health Day to improve rural healthcare services, sanitation, and preventive health infrastructure.
• The campaign was launched in Mumbai by Chief Minister Devendra Fadnavis with an outlay of ₹65.25 crore to strengthen healthcare accessibility in villages.
• The launch event was attended by:
• Deputy Chief Minister Eknath Shinde
• Sunetra Ajit Pawar
• Health Minister Prakash Abitkar
• Minister Meghna Sakore-Bordikar
• A short film and information booklet explaining the objectives and implementation strategy of the campaign were released during the launch event.
• The campaign aims to strengthen rural healthcare systems, ensure availability of quality medical services near villages, and promote self-reliance in managing local health challenges.
• The initiative focuses on preventive healthcare measures, including:
• Improving cleanliness and sanitation
• Ensuring safe drinking water availability
• Strengthening wastewater management systems
• Promoting proper nutrition
• The campaign targets the control of communicable diseases and lifestyle-related diseases through community-based interventions.
• Special emphasis has been placed on improving:
• Maternal health
• Child health
• Mental health
• Lifestyle disease prevention
• Committees have been formed at State, district, and village levels to monitor implementation and ensure effective execution of the campaign.
• Villages achieving prescribed health standards will be recognised with the title “Arogyasampann Gaon”, encouraging community participation and performance-based improvement in rural health indicators.
• The campaign is designed as a people’s participation movement to strengthen public involvement in improving health outcomes across rural Maharashtra.

RECENT NEWS

• Maharashtra Assembly has passed the Freedom of Religion Bill 2026. This bill is to prevent forced religious conversions across the state. This bill was approved by voice vote and introduced the strict penalties for conversions. This conversions are carried out through coercion, fraud, inducement or marriage.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Tejveer Singh Takes Charge as Secretary of Department of Chemicals and Petrochemicals (DCPC)

• Tejveer Singh (IAS: 1994 batch, Punjab Cadre) has assumed charge as Secretary of the Department of Chemicals and Petrochemicals (DCPC) under the Ministry of Chemicals and Fertilizers.
• On the occasion, he was welcomed by Nivedita Shukla Verma (outgoing Secretary, DCPC) along with senior officials of the department.
• Prior to this appointment, Tejveer Singh served as Additional Chief Secretary, Department of Technical Education and Industrial Training, Government of Punjab, reflecting his extensive administrative experience.
• He has also held several key roles in the Government of Punjab, including Principal Secretary to the Chief Minister and Secretary to the Chief Minister, and has served as District Magistrate in multiple districts.
• In a parallel development, Nivedita Shukla Verma has been appointed as Secretary of the Department of Administrative Reforms and Public Grievances (DARPG), Ministry of Personnel, Public Grievances and Pensions.
• She will also hold additional charge as Secretary of the Department of Pensions and Pensioners’ Welfare, strengthening administrative coordination and governance reforms.

About Ministry of Chemicals and Fertilizers :

• Cabinet Minister : Jagat Prakash Nadda
• Minister of State : Anupriya Patel

Jindal Stainless Limited Names Ranveer Singh as Its Brand Ambassador

• Jindal Stainless Limited (JSL), a leading stainless steel manufacturing company in India, has appointed Ranveer Singh as its 1st Brand Ambassador.
• The collaboration aims to boost brand visibility and expand the consumer base, enhancing the company’s market reach and recognition.
• The objective of this initiative is to increase awareness, strengthen audience connect, and highlight the importance of stainless steel in everyday life and infrastructure.
• Through this campaign, Ranveer Singh will feature across Television (TV), digital, and social media platforms, ensuring multi-channel brand promotion.
• The company reported an annual turnover of ₹40,182 crore in FY 2024–25 (FY25), indicating strong financial performance.
• JSL plans to scale up its facilities to achieve 4.2 Million Tonnes (MT) annual melt capacity, reflecting its expansion strategy and production growth targets.
• As of March 2025, the company operates 16 stainless steel manufacturing and processing units in India and overseas (including Spain and Indonesia), with a global presence across 12 countries.

Coforge Appoints Sunil Fernandes as Chief Operating Officer to Oversee Global Delivery Operations

• Sunil Fernandes has been promoted to the role of Chief Operating Officer (COO) at Coforge, reflecting the company’s focus on strengthening operational capabilities and accelerating AI-driven services.
• Fernandes will continue to report to CEO and Executive Director Sudhir Singh while taking on expanded responsibilities.
• In his new role, Fernandes will oversee global delivery operations and critical internal functions including administration, facilities, and IT services, ensuring high-quality outcomes for clients.
• A key priority will be driving the adoption of AI-native practices across engineering, service delivery, and internal workflows to improve efficiency and innovation.
• He brings over three decades of industry experience and has been Coforge’s Chief Delivery Officer since 2024, leading a comprehensive transformation of the delivery framework.
• Prior to Coforge, Fernandes held senior leadership positions at Accenture, Infosys Technologies, and Cognizant Technology Solutions, gaining global experience in technology services.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Releases Technology Roadmap for Unmanned Aerial Systems and Loitering Munitions in New Delhi

• The Indian Army (IA) has unveiled the ‘Technology Roadmap for Unmanned Aerial Systems (UAS) and Loitering Munitions’ to strengthen India’s self-reliant drone ecosystem and enhance modern warfare capabilities.
• The 50-page strategic document was released by Rahul R Singh, Deputy Chief of the Army Staff (Capability Development & Sustenance), at Bharat Mandapam in New Delhi, Delhi.
• The purpose of the roadmap is to provide long-term clarity on UAS requirements, align operational needs with technological development, and guide industry, academia, and Research and Development (R&D) investments toward priority areas.
• The scope of the roadmap covers 30 types of UAS and loitering munitions, translating into nearly 80 variants to meet diverse operational needs.
• The roadmap is divided into five key categories: Surveillance, Loitering Munitions, Air Defence UAS, Special Role UAS, and Logistics UAS.
• It incorporates advanced technologies such as High Altitude Long Endurance (HALE), Medium Altitude Long Endurance (MALE), swarm drones, First Person View (FPV) drones, anti-drone systems, Manned-Unmanned Teaming (MUM-T), and ‘mother-child drone’ concepts.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India Approves 14.286% Stake Acquisition in Aditya Birla Housing Finance Limited by Indriya Limited

• The Competition Commission of India (CCI) has approved the acquisition of a 14.286% equity stake in Aditya Birla Housing Finance Limited (ABHFL) by Indriya Limited, paving the way for a ₹2,750 crore capital infusion.
• The transaction involves a preferential allotment of equity shares on a private placement basis, resulting in Indriya acquiring 14.286% of the post-issue paid-up equity capital of ABHFL on a fully diluted basis.
• Indriya Limited, backed by Advent International, is an investment holding company with no operational business in India, focused on strategic investments.
• The target company, Aditya Birla Housing Finance Limited (ABHFL), is registered with the National Housing Bank (NHB) as a non-deposit-taking housing finance company.
• ABHFL is engaged in home loans, loans against property, construction finance, and lease rental discounting, serving the retail and housing finance segments in India.
• The ₹2,750 crore capital infusion was approved by the board of Aditya Birla Capital Limited in February 2026, marking a key step in strengthening its subsidiary ABHFL.
• The CCI approval under the Competition Act, 2002 (dated 7 April 2026) is a major regulatory milestone, bringing the deal closer to completion.

About CCI:

• The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act of 2002.
• Founded: October 14, 2003
• Headquarters: New Delhi, India
• Chairperson: Ravneet Kaur

CURRENT AFFAIRS: MOUS AND AGREEMENT

Microsoft Partnered with Chandigarh University to Establish Artificial Intelligence Skill Centre at Mohali Campus

• Microsoft signed a Memorandum of Understanding (MoU) with Chandigarh University to establish a Microsoft Skill Centre in Artificial Intelligence (AI) at its Mohali campus in April 2026.
• The initiative aims to enhance digital skills and employability of students by providing industry-ready training in Artificial Intelligence (AI), Machine Learning (ML), and Cloud Computing.
• The Skill Centre is part of the “Skill Centre: AI for Everyone” initiative, designed to make Artificial Intelligence learning accessible to students across multiple academic streams, not limited to computer science disciplines.
• The centre will offer Microsoft certification programmes, including:
• AZ-900: Azure Fundamentals
• DP-900: Data Fundamentals
• AI-900: Azure AI Fundamentals
• These certifications are intended to align student skills with industry requirements and improve job readiness.
• Chandigarh University will also launch a Bachelor of Engineering (Computer Science Engineering) with specialisation in Artificial Intelligence, integrating Microsoft’s advanced role-based curriculum.
• The Skill Centre will feature virtual laboratories powered by Microsoft Azure, enabling hands-on training in cloud computing, Artificial Intelligence, and data science technologies.
• The collaboration aims to bridge the gap between academic learning and industry expectations, supporting students in securing high-quality employment opportunities in the technology sector.

RECENT NEWS

• For the major breakthrough in the AI the Microsoft has introduced the new transcription model called the MAI-Transcribe-1. This model is being described as the one of the most accurate and the cost-effective speech-to-text solutions which is available now.

India–Australia Economic Cooperation and Trade Agreement Completed Four Years Since Signing on 2 April 2022

• The India-Australia Economic Cooperation and Trade Agreement (Ind–Aus ECTA) completed four years since its signing marking a major milestone in strengthening economic relations between India and Australia.
• India’s exports to Australia increased significantly from ₹37,268 crore (US$ 4 billion) in Financial Year 2020–21 to ₹79,193 crore (US$ 8.5 billion) in Financial Year 2024–25.
• The total bilateral trade between India and Australia reached ₹2,24,540 crore (US$ 24.1 billion) in Financial Year 2024–25.
• In Financial Year 2025–26, the total trade stood at ₹1,79,818 crore (US$ 19.3 billion) till February 2026, reflecting continued strong trade momentum.
• The agreement has played a crucial role in reducing trade barriers, enhancing market access, and creating new opportunities for Micro, Small and Medium Enterprises (MSMEs) and exporters.
• Under the agreement:
• India offered preferential market access on 70.3% tariff lines, covering 90.6% of total trade value
• Australia offered 100% tariff line access for Indian imports
• All Indian exports to Australia will become eligible for zero-duty access from 1 January 2026
• The agreement has generated sectoral gains in:
• Textiles
• Pharmaceuticals
• Chemicals
• Agricultural products
• Imports from Australia such as:
• Raw cotton
• Base metals
• Chemicals
• Fertilisers
• Pulses
• The Mutual Recognition Arrangement on Organic Products, signed in September 2025, strengthened regulatory cooperation and export compliance efficiency between India and Australia in the organic products sector.

About Australia

• Capital: Canberra
• Currency: Australian Dollar
• Prime Minister: Anthony Albanese

CURRENT AFFAIRS: RANKING AND INDEX

Centre for Research on Energy and Clean Air Report Highlights Gurgaon as Most Polluted City in India for March

• According to the report released by the Centre for Research on Energy and Clean Air (CREA), Gurgaon recorded the highest pollution level in India in March, with an average PM2.5 concentration of 116 micrograms per cubic metre (µg/m³), significantly above safe limits.
• Haryana had four cities among the top 10 most polluted cities in India:
• Bahadurgarh
• Faridabad
• Gurgaon
• Manesar
• Other cities included in the top 10 most polluted cities list were:
• Singrauli
• Mandideep
• Ghaziabad
• Bhiwadi
• Noida
• Nandesari
• Ghaziabad was identified as the most polluted city in India for the entire Financial Year 2025–26, indicating persistent long-term air pollution concerns.
• The report highlighted that several cities failed to meet the National Ambient Air Quality Standards (NAAQS):
• Haryana recorded 9 out of 24 cities exceeding safe limits
• Uttar Pradesh recorded 8 out of 21 cities exceeding safe limits
• India’s National Clean Air Programme (NCAP) has shown mixed progress after seven years of implementation, with only a limited number of cities achieving pollution reduction targets.
• Nine cities in Uttar Pradesh achieved more than 40% reduction in PM10 levels, showing notable improvement under pollution control measures.
• Some cities in the following states also reported improvements in PM10 levels:
• Maharashtra
• West Bengal
• Uttarakhand
• Punjab
• Rajasthan
• Odisha recorded the highest number of cities with increased PM10 levels, followed by:
• Madhya Pradesh
• Andhra Pradesh
• Additional increases in pollution levels were observed in cities across:
• Assam
• Bihar
• Chhattisgarh
• Maharashtra
• Tamil Nadu
• Dehradun recorded the highest improvement, reducing PM10 levels by 75% compared to 2017–18 levels.
• Visakhapatnam recorded the highest increase in PM10 levels, with a 73% rise.
• Delhi achieved a 17% reduction in PM10 levels, indicating moderate progress in pollution control efforts.

CURRENT AFFAIRS: SPORTS NEWS

Odisha’s Payal Nag Became First Quadruple Amputee to Win Gold at World Para Archery Series Final 2026

• Payal Nag from Odisha created history by becoming the first quadruple amputee in the world to win an international gold medal in para-archery.
• She won the gold medal at the 2026 World Para Archery Series Final held in Bangkok during her first senior international competition on 4 April 2026.
• In the final match, she defeated Sheetal Devi with a score of 139–136 to secure the gold medal.
• Payal Nag belongs to a village in Balangir district, where she was born into a financially weak family, with her father working as a daily-wage labourer.
• At the age of eight years, she suffered a severe electric shock accident, resulting in the loss of both arms and both legs, after which she stayed in an orphanage and gradually rebuilt her life.
• Her determination gained public attention when a video of her painting using her mouth became widely recognised, highlighting her resilience and talent.
• Her sporting journey began after coach Kuldeep Kumar Vedwan identified her potential and trained her at the Mata Vaishno Devi Shrine Archery Academy, located in Katra.
• She uses a specialised prosthetic support system, pulling the bowstring with the shoulder and mouth using a trigger mechanism, making her technique unique in international para archery.
• Para Archery is governed globally by the World Archery Federation.
• In India, initiatives such as the Khelo India Para Games play an important role in promoting para sports participation among youth.

Daily CA One- Liner: April 9

• The Unique Identification Authority of India signed an agreement with MapmyIndia to enable the display of authorised Aadhaar centres on the Mappls App
• Union Communications Minister Jyotiraditya Scindia stated that India Post is rapidly transforming into a major logistics powerhouse and aims to become a global player by 2030
• India emerged as the global leader in issuing Internationally Recognized Certificates of Compliance (IRCCs) under the Nagoya Protocol on Access and Benefit-sharing
• The Government of Maharashtra launched the “Majha Gaon, Arogyasampann Gaon” (My Village, Healthy Village) campaign on the occasion of World Health Day to improve rural healthcare services, sanitation, and preventive health infrastructure
• Microsoft signed a Memorandum of Understanding (MoU) with Chandigarh University to establish a Microsoft Skill Centre in Artificial Intelligence (AI) at its Mohali campus in April 2026
• The India-Australia Economic Cooperation and Trade Agreement (Ind–Aus ECTA) completed four years since its signing marking a major milestone in strengthening economic relations between India and Australia.
• According to the report released by the Centre for Research on Energy and Clean Air (CREA), Gurgaon recorded the highest pollution level in India in March, with an average 5 concentration of 116 micrograms per cubic metre (µg/m³), significantly above safe limits.
• Payal Nag from Odisha created history by becoming the first quadruple amputee in the world to win an international gold medal in para archery.
• The Reserve Bank of India (RBI) has proposed a revamp of the Business Correspondent (BC) model to strengthen last-mile banking delivery and financial inclusion.
• The Pradhan Mantri MUDRA Yojana (PMMY) was launched by Narendra Modi on April 8, 2015, marking 11 years of success in empowering India’s grassroots entrepreneurs.
• Morgan Stanley has cut India’s Real Gross Domestic Product (GDP) growth forecast to 6.2% for Financial Year 2026-27 (FY27), a reduction of 30 basis points (bps) from the earlier 6.5% estimate, due to the ongoing conflict in West Asia.
• Bajaj Alternate Investment Management Limited (Bajaj Alts) has received regulatory approval from Securities and Exchange Board of India (SEBI) to launch Portfolio Management Services (PMS).
• India’s coffee exports recorded a strong growth of 17% to reach a historic high of $2.136 billion in FY26, up from $1.82 billion in FY25, driven by higher prices and a moderate rise in export volumes.
• Razorpay has partnered with OpenAI to enable seamless integration of payment systems into AI-built applications, allowing developers to embed payments directly into apps within minutes and simplify monetisation of AI products.
• Tejveer Singh (IAS: 1994 batch, Punjab Cadre) has assumed charge as Secretary of the Department of Chemicals and Petrochemicals (DCPC) under the Ministry of Chemicals and Fertilizers.
• Jindal Stainless Limited (JSL), a leading stainless steel manufacturing company in India, has appointed Ranveer Singh as its 1st Brand Ambassador.
• Sunil Fernandes has been promoted to the role of Chief Operating Officer (COO) at Coforge, reflecting the company’s focus on strengthening operational capabilities and accelerating AI-driven services.
• The Indian Army (IA) has unveiled the ‘Technology Roadmap for Unmanned Aerial Systems (UAS) and Loitering Munitions’ to strengthen India’s self-reliant drone ecosystem and enhance modern warfare capabilities.
• The Competition Commission of India (CCI) has approved the acquisition of a 14.286% equity stake in Aditya Birla Housing Finance Limited (ABHFL) by Indriya Limited, paving the way for a ₹2,750 crore capital infusion.