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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Government Enhances Agricultural Credit Flow with Focused Policy Initiatives

• The Government of India (GoI) sets Ground Level Credit (GLC) targets annually for the agriculture and allied sectors, which banks must achieve during the financial year.
• GLC targets are set region-wise, agency-wise (Scheduled Commercial Banks, Regional Rural Banks, Rural Cooperative Banks), and loan category-wise (crop loans and term loans).

Key Highlights :

• Since 2021–22, dedicated targets for allied activities under GLC have been introduced to provide focused credit support for dairy, fisheries, and animal husbandry.
• Under Priority Sector Lending (PSL) guidelines issued by RBI, commercial banks, Regional Rural Banks (RRBs), Small Finance Banks, Local Area Banks, and Primary (Urban) Co-operative Banks (UCBs) must allocate at least 18% of their Adjusted Net Bank Credit (ANBC) or Credit Equivalent of Off-Balance Sheet Exposures (CEOBSE) to agriculture, with a sub-target of 10% for Small and Marginal Farmers (SMFs).
• PSL guidelines also prescribe incentives for districts with lower credit flow and disincentives for districts with higher priority sector credit flow, covering agriculture and SMFs.
• The Kisan Credit Card (KCC) scheme provides timely and affordable credit for purchasing agricultural inputs (seeds, fertilizers, pesticides) and cash requirements related to crop production and allied activities.
• Since 2019, the KCC scheme includes working capital for animal husbandry, dairying, and fisheries.
• The Modified Interest Subvention Scheme (MISS) allows short-term agricultural loans via KCC at 7% interest, with an additional 3% prompt repayment incentive, reducing the effective rate to 4%.
• Collateral-free short-term agricultural loan limits have been increased from 1.60 lakh to Rs.2.00 lakh per borrower w.e.f 01 January 2025, enhancing credit access for small and marginal farmers.
• NABARD provides allocations under the Rural Infrastructure Development Fund (RIDF) to create rural infrastructure that enhances credit absorption capacity in villages.
• As per the Union Budget 2025-26, the PM Dhan Dhaanya Krishi Yojana (PM-DDKY) aims to ensure adequate long-term and short-term credit availability in districts with low agricultural credit disbursement.
• The Government has implemented technology upgradation and strengthened Rural Financial Institutions (Cooperative Banks and RRBs) in rural and backward areas.
• Under RBI’s Lead Bank Scheme, NABARD prepares Potential Linked Credit Plans (PLPs) for each district to estimate credit potential under PSL, which are consolidated at the state level.
• Based on PLPs, past trends, and government priorities, the Government, in consultation with NABARD, sets the GLC target for agriculture.
• NABARD provides financial support to RRBs, Cooperative Banks, Commercial Banks, NBFCs, and MFIs to augment resources and liquidity, ensuring farmers’ credit needs are met during cropping and harvesting seasons.

Insurance Regulatory and Development Authority of India Approves Allianz Jio Reinsurance and Kiwi General Insurance to Begin Operations in India

• The Insurance Regulatory and Development Authority of India (IRDAI) granted Certificates of Registration (CoR) to Allianz Jio Reinsurance Limited (AJRL) and Kiwi General Insurance Limited to commence insurance operations in India.
• The approvals were granted during the 134th Board Meeting of IRDAI, held in Hyderabad, Telangana.
• Allianz Jio Reinsurance Limited (AJRL) is a 50:50 Joint Venture (JV) between Allianz Group (Munich, Germany) and Jio Financial Services Limited.
• AJRL will operate as a domestic reinsurer, providing risk coverage to insurance companies in India.
• Apart from the state-owned General Insurance Corporation of India (GIC Re), Valueattics Re is the only other domestic reinsurer in India.
• Kiwi General Insurance Limited is backed by WestBridge Capital, an American private equity firm, along with Neelesh Garg, former CEO of Tata AIG General Insurance Company Limited.
• Kiwi General Insurance will provide general insurance services in India under the IRDAI regulatory framework.
• With this approval, the total number of general insurers in India has increased to 35, including 7 Standalone Health Insurers (SAHIs).
• It is the first instance where a majority stakeholder in a health insurance company (WestBridge Capital) has been permitted to establish a general insurance company in India.
• During the meeting, IRDAI also discussed the regulatory framework following the enactment of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 (SBSR Act).
• The SBSR Act was notified on 21 December 2025 and came into force on 5 February 2026, introducing amendments to India’s insurance laws.

About IRDAI:

• Headquarters (HQ): Hyderabad, Telangana, India
• Chairperson: Ajay Seth
• Founded: 1999 

Nashik Municipal Corporation Lists State’s First Urban Local Body Green Municipal Bond on National Stock Exchange of India

• Nashik Municipal Corporation (NMC) achieved a historic milestone by listing Maharashtra’s first-ever Urban Local Body (ULB) Green Municipal Bonds on the National Stock Exchange of India (NSE) in Mumbai, Maharashtra.
• The listing ceremony included the traditional bell ringing by Devendra Fadnavis, Chief Minister of Maharashtra, along with Ashishkumar Chauhan, Managing Director of NSE.
• The funds raised through the Green Municipal Bonds will be used for sustainable urban infrastructure projects such as renewable energy, waste management, clean transportation, sustainable water management, and climate resilience initiatives.
• Green Municipal Bonds differ from general municipal bonds because 100% of the funds must be used exclusively for environmentally sustainable or “green” projects.
• The bond mechanism works similar to traditional municipal bonds, where investors lend money to local governments, but the capital is strictly allocated to green initiatives.
• The initiative by Nashik Municipal Corporation supports India’s long-term goal of achieving Net-Zero Emissions by 2047.
• Ghaziabad Municipal Corporation in Uttar Pradesh became India’s first municipal body to issue Green Municipal Bonds in 2021, raising ₹150 crore to finance a tertiary sewage treatment plant.
• Later, Indore Municipal Corporation in Madhya Pradesh issued Green Municipal Bonds in early 2023 to support a 60-megawatt solar power project aimed at strengthening sustainable urban infrastructure.

PhonePe Introduces ‘RuPay On-The-Go’ National Common Mobility Card for Contactless Transit Payments

• PhonePe Limited launched the RuPay ‘On-The-Go’ Card, a National Common Mobility Card (NCMC) designed for contactless payments across public transport systems in India.
• The RuPay ‘On-The-Go’ Card supports the Government of India’s ‘One Nation One Card’ initiative, which aims to create a single interoperable transit payment system.
• The card enables contactless tap-and-pay transactions at NCMC-enabled services such as metro, buses, trains, toll plazas, and parking facilities.
• It supports offline payments without internet connectivity, allowing fast and seamless transactions for commuters.
• The prepaid card stores value directly on its chip with a maximum balance limit of ₹2,000.
• It allows offline transactions up to ₹500, ensuring quick and secure payments in public transport systems.
• The card can be issued instantly after One-Time Password (OTP) verification.
• Users can purchase or recharge the card using Unified Payments Interface (UPI), cash, or debit/credit cards.
• The card was initially launched at Hyderabad Metro ticket counters in Hyderabad, Telangana, in partnership with L&T Metro Rail (Hyderabad) Limited (LTMRHL).
• The RuPay ‘On-The-Go’ Card is fully interoperable and can also be used in NCMC-enabled transport systems in cities such as Delhi, Mumbai (Maharashtra), Chennai (Tamil Nadu), and Bengaluru (Karnataka).

About PhonePe:

• Headquarters: Bengaluru, Karnataka, India
• Founded: 2015
• CEO: Sameer Nigam
• Subsidiaries: PhonePe Payments, PhonePe for Business, PhonePe Insurance, PhonePe Wealth, PhonePe Bharat BillPay
• Key Products: PhonePe App, PhonePe Wallet, UPI Payments, PhonePe for Business, PhonePe Insurance, PhonePe Gold, PhonePe Bharat BillPay

CURRENT AFFAIRS : INTERNATIONAL NEWS

India, Uzbekistan Launch Pharma-Nutraceutical Corridor to Access USD 7–10 Billion CIS and Eurasian Healthcare Market

• India and Uzbekistan jointly launched a structured pharmaceutical and nutraceutical corridor to expand access to the CIS (Commonwealth of Independent States) and the wider Eurasian healthcare market, valued at USD 7–10 billion.
• The trade corridor was formalised through a partnership between the Ministry of Health of Uzbekistan, Nutrify Today (Bengaluru-based nutraceutical platform), and Pharma Eurasia (Tashkent-based trade and exhibition platform).
• The Indo–CIS Pharma-Nutraceutical Corridor serves as a policy-backed platform to promote regulatory alignment, trade facilitation, investment, and commercial engagement between India and the CIS/Eurasian region.
• The commercial launch of the corridor will take place at Pharma Eurasia 2026, scheduled for 20–22 May 2026 in Tashkent, Uzbekistan.
• The operational focus of the corridor includes regulatory harmonisation, supply chain digitisation, investment facilitation, joint ventures, R&D collaboration, and trade matchmaking to enable seamless market entry and commercialisation.

About Uzbekistan :

• President : Shavkat Mirziyoyev
• Prime Minister : Abdulla Aripov
• Capital : Tashkent
• Currency : Uzbek sum

India Retains Position as Second-Largest Global Arms Importer in Stockholm International Peace Research Institute 2025 Report

• The Stockholm International Peace Research Institute (SIPRI) released the report titled ‘Trends in International Arms Transfers, 2025’.
• During 2021–2025, India remained the second-largest arms importer, accounting for 8.2% of global arms imports, after Ukraine.
• Ukraine was the largest global arms importer, receiving 9.7% of total international arms transfers.
• Saudi Arabia ranked third, with 6.8% of global arms imports.
• The top three global arms exporters were the United States of America (USA), France, and Russia.
• Global arms transfers rose by nearly 10% due to geopolitical tensions and increased defence procurement.
• Europe became the largest arms-importing region, accounting for 33% of global imports (up from 12%) over the last five years, mainly due to the Russia–Ukraine War.
• India remained the largest recipient of French arms, accounting for 24% of France’s exports.
• India also was the largest destination for Russian arms exports, receiving 48% of Russia’s arms exports, highlighting its diversified defence partnerships.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Indian Railways Launches SHINE App to Report Workplace Sexual Harassment

• Indian Railways launched the SHINE App on International Women’s Day (8 March 2026) to strengthen workplace safety for women employees.
• SHINE stands for Sexual Harassment Incident Notification for Empowerment.
• The app enables women employees to report incidents of sexual harassment confidentially through the Human Resources Management System (HRMS) used by railway staff.
• Through the Employee Self Service portal, women employees can register complaints directly, which are automatically forwarded to designated committees responsible for handling such cases.
• The initiative aims to simplify and speed up the complaint reporting process while ensuring complaints reach the appropriate authorities without delay.
• A unique feature of the SHINE app is that it also supports complaints on behalf of individuals who are not permanent railway employees.
• These include visitors, contractual workers, students and other individuals interacting with railway workplaces.
• This broader coverage ensures that workplace safety measures extend beyond regular employees and provide protection to all individuals associated with the railway system.
• The system has been designed to ensure confidentiality and faster handling of complaints by the designated authorities.
• Once a complaint is submitted, it is received directly by the committee responsible for addressing workplace harassment cases, enabling faster action and better monitoring.
• The initiative aligns with the Vishaka vs State of Rajasthan (1997) judgement of the Supreme Court of India, which introduced the Vishaka Guidelines to prevent sexual harassment at workplaces.
• These guidelines require organisations to establish Internal Complaints Committees, maintain confidentiality and create mechanisms to investigate workplace harassment complaints.

RECENT NEWS

• Indian Railways and the Indian Army launched a Framework of Cooperation to expand post-retirement employment opportunities for Agniveers and ex-servicemen. This initiative was led by senior Army leadership and the Ministry of Railways which is aims to ensure a smooth transition from military service to civilian careers. 

Narcotics Control Bureau Dismantles Pan-India Drug Trafficking Network “Team Kalki”

• The Narcotics Control Bureau (NCB) dismantled a major pan-India drug trafficking network named “Team Kalki” that operated through darknet marketplaces and encrypted messaging platforms.
• The network had allegedly been active since January 2025 and distributed narcotic drugs across India using courier and parcel delivery services.
• Acting on intelligence gathered over the past three months, the NCB conducted a targeted operation in New Delhi, which led to the dismantling of the network.
• Investigators monitored suspicious online activities, traced shipments linked to the group and carried out a coordinated crackdown to expose the network.
• During the operation, authorities seized 13 domestic parcels suspected to contain narcotic substances.
• Additionally, two international parcels originating from the Netherlands were intercepted and linked to the same trafficking network.
• Officials also seized multiple electronic devices and traced a cryptocurrency wallet associated with the racket.
• The network used darknet marketplaces to sell narcotics online while maintaining anonymity.
• Communication between traffickers and buyers was carried out through the encrypted messaging application Session, which enables secure and anonymous communication.
• Preliminary investigation suggests that the network dispatched more than 1,000 drug consignments since January 2025 through courier and parcel services.
• The operation highlighted the growing use of digital tools, encrypted apps and anonymous online platforms by drug traffickers to evade traditional law enforcement surveillance.

About NCB:

• The NCB, established under the Narcotic Drugs and Psychotropic Substances Act, 1985, is India’s primary agency responsible for combating drug trafficking and enforcing narcotics laws.
• The agency also coordinates with state police forces, customs authorities and international agencies to prevent illegal drug trade.

Maharashtra Legislative Assembly Passes Land Revenue Code Amendment Bill and Stamp Amendment Bill 2026

• The Maharashtra Legislative Assembly passed two important bills: the Maharashtra Land Revenue Code Amendment Bill and the Maharashtra Stamp Amendment Bill 2026 to improve administrative efficiency and better utilisation of government land.
• The Maharashtra Land Revenue Code Amendment Bill allows municipal corporations and municipal councils to use unused grazing land (gairan land) for public development projects in urban areas.
• Gairan land refers to government-owned grazing land that often remains unused within municipal boundaries.
• Under the amendment, such land can now be used for public interest projects such as roads, infrastructure development and community facilities.
• The ownership of these lands will remain with the Maharashtra Government, ensuring that they are not permanently transferred to local bodies.
• According to government estimates, around 7,700 hectares of grazing land in municipal corporation areas, 4,000 hectares in municipal areas, and about 3,000 hectares in municipal council regions could potentially be utilised for development projects.
• The use of grazing land will be strictly regulated, and local bodies can utilise the land only for projects serving public interest, not for commercial purposes.
• The land will continue to be recorded as Collector’s land under state government ownership.
• The Assembly also passed the Maharashtra Stamp Amendment Bill 2026, which aims to speed up the processing of stamp duty refund applications.
• Earlier, under Section 52A of the Maharashtra Stamp Act, 1958, officials could approve stamp duty refunds only up to ₹20 lakh, and higher cases had to be referred to the Chief Controlling Revenue Authority.
• The new amendment decentralises the refund process by increasing the financial powers of revenue department officials, allowing more cases to be resolved at district and regional levels.
• Under the revised system, District Collectors can approve stamp duty refunds up to ₹20 lakh instead of ₹5 lakh.
• Deputy Inspectors General of Registration and Deputy Controllers of Stamps can now decide refund cases up to ₹50 lakh.
• Additional Controller of Stamps and Joint Inspector General will handle cases between ₹20 lakh and ₹1 crore, while cases above ₹1 crore will continue to be decided by the top authority.

RECENT NEWS

• The Maharashtra state government has introduced a new offline photo upload feature for e-crop registration. This thing is making the process easier for farmers in areas with poor internet connectivity. Announcing the initiative in the state assembly by Revenue Minister Chandrashekhar Bawankule.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Jishnu Dev Varma.
• Capital: Mumbai
• National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary

Mizoram Legislative Assembly Passes Resolution to Include Mizo Language in Eighth Schedule of the Constitution

• The Mizoram Legislative Assembly unanimously passed a resolution seeking the inclusion of the Mizo language in the Eighth Schedule of the Constitution of India.
• The resolution was introduced by Vanlalthlana, Education Minister of Mizoram, and received support from all members of the Assembly.
• The initiative aims to secure official national recognition for the Mizo language and promote its linguistic development.
• During the Assembly discussion, Lalduhoma, Chief Minister of Mizoram, appreciated the efforts of the Mizo Language Development Board (MLDB) for initiating the proposal.
• The board conducted consultations with various stakeholders before the resolution was introduced in the Assembly.
• The unanimous adoption of the resolution reflects strong political consensus in Mizoram to preserve and promote the Mizo language and cultural identity.
• Some members raised concerns that including the Mizo language in the Eighth Schedule might affect the Scheduled Tribe status of the Mizo community.
• The Chief Minister clarified that these concerns are unfounded, as the Mizo community is recognised as a Scheduled Tribe under the Scheduled Tribe Order of 1950, and this legal status will remain unchanged.
• During the discussion, the Chief Minister also suggested exploring the possibility of declaring the entire state of Mizoram as a Scheduled Area under the Sixth Schedule of the Constitution of India.
• He noted that a similar arrangement exists in Meghalaya, where Sixth Schedule provisions apply across the state.
• At present, the Eighth Schedule of the Constitution of India recognises 22 official languages.
• If the Mizo language is included in the Eighth Schedule, it would receive greater government support for development, academic research, translation work and use in official examinations and administrative communication.

RECENT NEWS

• The world of herpetology witnessed a significant breakthrough as scientists from Mizoram University, collaborating with international researchers from Russia, Germany, and Vietnam, unveiled a previously unknown reed snake species.

About Mizoram:

• Capital: Aizawl
  • Chief Minister: Lalduhoma
  • Governor: Vijay Kumar Singh
  • National Parks: Murlen National Park
  • Wildlife Sanctuaries: Dampa Wildlife Sanctuary, Ngengpui Wildlife Sanctuary, Tawi Wildlife Sanctuary, Lengteng Wildlife Sanctuary, Thorangtlang Wildlife Sanctuary

India Sends 1,000 Metric Tons of Rice to Malawi as Humanitarian Assistance after El Niño Drought

• India has dispatched 1,000 metric tons of rice to Malawi as humanitarian assistance to help the country address food shortages caused by a severe drought.
• The shipment was sent from Nhava Sheva Port in Maharashtra, highlighting India’s humanitarian outreach and commitment to food security.
• Malawi has been facing serious food insecurity due to prolonged drought conditions linked to the El Niño climate phenomenon.
• The assistance aims to stabilise food supplies and support vulnerable populations affected by crop losses and agricultural disruption.
• The drought has caused significant damage to farming activities in Malawi, impacting rural communities that rely heavily on agriculture for their livelihoods.
• According to Randhir Jaiswal, spokesperson of the Ministry of External Affairs, the humanitarian shipment reflects India’s commitment to supporting countries of the Global South.
• The initiative aligns with India’s policy of strengthening South–South cooperation, which promotes collaboration and mutual support among developing nations in Africa, Asia and Latin America.
• India frequently provides Humanitarian Assistance and Disaster Relief (HADR), including food aid, medical supplies and emergency support to countries facing natural disasters or humanitarian crises.

Cheetah Population in India Reaches 53 after Birth of Five Cubs at Kuno National Park

• The cheetah population in India has reached 53 after Cheetah Jwala, a Namibian cheetah, gave birth to five cubs at Kuno National Park in Madhya Pradesh.
• The development was announced by Bhupender Yadav, Union Minister for Environment, Forest and Climate Change.
• The minister described the development as a major milestone for Project Cheetah India, which aims to restore the cheetah population in India.
• With the birth of the five cubs, the number of Indian-born cheetah cubs has increased to 33.
• The litter by Cheetah Jwala represents the 10th successful cheetah litter born on Indian soil since the launch of Project Cheetah.
• Jwala has now become a third-time mother, indicating that the habitat conditions at Kuno National Park are suitable for breeding and survival of cheetahs.
• Another cheetah, Cheetah Gamini, originally translocated from South Africa, recently gave birth to four cubs, marking her second successful litter in India.
• Nine cheetahs were translocated from Botswana to India, including six females and three males.
• These cheetahs are currently kept in quarantine enclosures at Kuno National Park where they are undergoing health monitoring and acclimatisation before their release into the forest.
• Kuno National Park has emerged as the central hub for cheetah conservation in India, offering suitable grassland ecosystems for hunting, breeding and adaptation.
• The success of Project Cheetah India reflects the coordinated efforts of forest departments, wildlife biologists, veterinarians and conservation experts, along with continuous monitoring through radio collars and field observations.

RECENT NEWS

• India’s push for inclusive and technology-driven governance received a major boost as Madhya Pradesh partnered with the Digital India BHASHINI Division. The collaboration focuses on integrating multilingual and voice-based AI solutions into government platforms, ensuring that digital services reach citizens across linguistic and regional boundaries.

About Madhya Pradesh:

• Chief Minister: Mohan Yadav  
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal  
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna National Park.
• Wildlife Sanctuaries: Bori Wildlife Sanctuary, Gandhi Sagar Wildlife Sanctuary, Ken Gharial Sanctuary, Kuno Wildlife Sanctuary.

CURRENT AFFAIRS: RANKING AND REPORTS

Shah Rukh Khan Debuts in Hurun Global Rich List 2026 with Net Worth of 1.3 Billion US Dollars

• Shah Rukh Khan, Bollywood actor and entrepreneur, has made his debut in the Hurun Global Rich List 2026 with an estimated net worth of 1.3 billion US dollars.
• The list was released, and the wealth calculation is based on data up to January 15, 2026.
• His inclusion reflects decades of success in the Indian film industry as well as strong business ventures and brand investments.
• The Hurun Global Rich List Ranks United States dollar billionaires worldwide and highlights influential figures from sectors such as entertainment, technology, sports and business.
• According to Rupert Hoogewerf, Chairman and Chief Researcher of the Hurun Report, many celebrities are now building wealth through business ownership, intellectual property and brand partnerships, in addition to performance earnings.
• Prominent celebrity billionaires featured in the Hurun Global Rich List 2026 include
  – Michael Jordan – 3.6 billion US dollars
  – Jay-Z – 2.8 billion US dollars
  – Tiger Woods – 1.9 billion US dollars
  – Taylor Swift – 1.6 billion US dollars
  – Rihanna – 1.5 billion US dollars
  – Shah Rukh Khan – 1.3 billion US dollars
• The report also noted new celebrity billionaire entrants, including Bruce Springsteen and Magic Johnson.
• According to the report, India ranks third globally in the number of billionaires with 308 individuals, after China and the United States.
• The report highlights India’s growing position as a major centre for wealth creation and entrepreneurship.
• A major contributor to Shah Rukh Khan’s wealth is his production company Red Chillies Entertainment, which he co-owns with Gauri Khan.
• His income also comes from brand endorsements, global appearances, sports investments and film distribution rights, reflecting the expanding economic influence of India’s entertainment industry.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research & Development Organisation and Indian Navy Successfully Test Indigenous Air Droppable Container ‘ADC-150’ from P8I Aircraft

• The Defence Research & Development Organisation (DRDO) and Indian Navy conducted four successful in-flight release trials of the indigenous Air Droppable Container (ADC-150).
• Trials were carried out from the P8I aircraft off the Goa coast between February 21 and March 1, 2026, under extreme release conditions.
• The ADC-150 is indigenously designed and developed to deliver a 150 kg payload, enhancing naval operational logistics capabilities.
• The container can provide quick response to naval vessels in distress, delivering critical stores, equipment, and medical assistance to ships deployed far from the coast.
• Naval Science & Technological Laboratory (NSTL), Visakhapatnam served as the nodal laboratory for the development and trials of the ADC-150.
• Aerial Delivery Research & Development Establishment (ADRDE), Agra developed the parachute system for the container.
• Centre for Military Airworthiness & Certification (CEMILAC), Bengaluru provided flight clearance and certification for the system.
• Defence Research & Development Laboratory (DRDL), Hyderabad supported the trials by providing instrumentation support.
• The ADC-150 system was developed and qualified in a short timeframe to meet the Indian Navy’s operational requirements.
• With the successful completion of all developmental flight trials, the ADC-150 is expected to be inducted into the Indian Navy soon, strengthening India’s naval self-reliance and operational capabilities.
• The system represents a boost to India’s indigenous defence technology and enhances timely support to vessels at sea.

Recent News :

• In Jan 2026, At the 77th Republic Day Parade on Kartavya Path, the Defence Research and Development Organisation (DRDO) unveiled the Long Range Anti-Ship Hypersonic Missile (LR-AShM) for the first time, highlighting India’s advances in hypersonic weapon systems.

About DRDO:

• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Dr. Samir V. Kamat

North Atlantic Treaty Organisation Launches ‘Cold Response’ 2026 Arctic Exercise in Norway and Finland

• The North Atlantic Treaty Organisation (NATO) commenced its biennial Arctic military exercise named ‘Cold Response 2026’ across Northern Norway and Finland.
• The exercise duration is from March 2026 till March 19, 2026, focusing on the role of civilians in supporting military operations.
• Objective: The exercise is part of Arctic Sentry, aimed at bolstering NATO’s presence in the polar region.
• Key Participants: Nearly 25,000 troops from 14 NATO countries are participating, including 4,000 troops from the USA and Denmark.
• Focus Areas: Norway declared 2026 as the year of ‘total defence’, emphasizing readiness of civilians, businesses, and public institutions to face war and other crises.
• The exercise integrates civilian support with military preparedness, highlighting joint operations and crisis management.

About NATO :

• Formation : 4 April 1949
• Headquarters : Brussels, Belgium
• Secretary General : Mark Rutte
• The North Atlantic Treaty Organization (NATO) is an intergovernmental military alliance between 32 member states—30 in Europe and 2 in North America.

India–Japan Joint Military Exercise Dharma Guardian 2026 Concludes in Chaubattia After Two Weeks

• The 7th edition of the India–Japan joint military exercise Dharma Guardian 2026 concluded at Chaubattia after a two-week training period from 24 February to 8 March 2026.
• The exercise involved joint operational drills and training between the Indian Army and the Japan Ground Self-Defense Force (JGSDF).
• The focus of the exercise was on counter-insurgency (CI) and counter-terrorism (CT) operations, along with urban warfare and combat training in complex terrain.
• Exercise Dharma Guardian is conducted alternately in India and Japan since 2018 to strengthen bilateral defence cooperation.
• A key highlight was Exercise ASAHI SHAKTI, a 48-hour validation exercise simulating counter-terrorism operations including cordon-and-search, ambushes, heliborne operations, and hostage rescue drills.
• The drills incorporated modern surveillance technologies such as drones to enhance coordination and operational effectiveness.
• The exercise aimed to strengthen coordination, operational skills, and interoperability between the two countries’ armed forces.
• The 6th edition of the India-Japan Joint Military Exercise Dharma Guardian 2025 was conducted at the East Fuji Manoeuvre Training Area in Japan from February 24 to March 9, 2025.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Rahul Bhatia Becomes Interim Chief Executive Officer of IndiGo After Pieter Elbers Resigns

• Rahul Bhatia, billionaire entrepreneur and co-founder of IndiGo, has taken charge as the airline’s interim Chief Executive Officer (CEO) following the resignation of Pieter Elbers.
• The move comes amid operational challenges faced by India’s largest airline by market share.
• Bhatia played a central role in building IndiGo into a dominant aviation player and will oversee management responsibilities during the transition.
• He was born in Nainital, Uttarakhand.
• After returning to India in 1984, he planned to start a telecommunications business, but regulatory hurdles prompted him to focus on travel and aviation.
• In 2004, he founded InterGlobe Aviation and obtained an airline licence, and in 2006, he launched IndiGo with Rakesh Gangwal.
• IndiGo adopted a low-cost carrier model, emphasising operational efficiency, quick aircraft turnaround, and fleet standardisation, helping it rapidly capture a large share of India’s domestic aviation market.
• Under Bhatia’s leadership, IndiGo became India’s leading airline, securing nearly one-fifth of the domestic aviation market by 2010.
• IndiGo is operated by InterGlobe Aviation Limited and follows a low-cost carrier (LCC) business model.
• InterGlobe Enterprises is a diversified group involved in aviation, travel services, and hospitality.
• The Indian aviation sector is regulated by the Directorate General of Civil Aviation (DGCA).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

AquaAirX Launches India’s First Amphibious Surveillance Drone ‘AVATAAR’

• AquaAirX Autonomous Systems, a Bengaluru-based deep-tech startup, introduced ‘AVATAAR (Amphibious Vehicle for Autonomous Tactical Aerial & Aquatic Reconnaissance)’, India’s first amphibious drone capable of operating in both air and underwater.

Key Highlights :

• The AVATAAR drone is designed to support Intelligence, Surveillance, and Reconnaissance (ISR) missions in maritime and coastal environments.
• Dual-Domain Operation: The drone can fly like a conventional aerial drone, land on water, and then dive underwater to continue its mission, enabling real-time maritime monitoring.
• The drone can transition between air and underwater environments within seconds, allowing seamless multi-domain operations without external assistance.
• Key Sensors and Systems include Imaging Sonar, Doppler Velocity Logger (DVL), Acoustic Communication Modem, LED lights, Cameras, and Ultra-Short Baseline (USBL) Navigation System for underwater navigation and real-time data collection.
• The system also features Artificial Intelligence (AI)-assisted navigation and mission control software for automated surveillance and inspection missions.
• The drone has achieved Technology Readiness Level 6 (TRL-6), meaning a functional prototype has been successfully tested in operational environments.
• The drone’s structure is made from corrosion-resistant carbon fiber and coated with specialized protective materials to protect sensors and electronics from harsh maritime conditions and saltwater corrosion.
• It uses an acoustic communication modem to maintain reliable underwater communication links.
• The USBL navigation system enables precise underwater positioning and can create 3D maps of underwater structures, helping in inspection of submerged infrastructure.
• Applications include coastal surveillance, monitoring maritime activity, underwater infrastructure inspection, and search-and-rescue operations.
• The development of AVATAAR represents a major advancement in India’s robotics, surveillance, and multi-domain drone technology.
• The project received early funding from Rainmatter, which supports technology-driven innovation startups.
• The drone highlights the growing capabilities of India’s drone technology sector, combining aerial mobility with underwater exploration for next-generation surveillance and exploration systems.

Forest Survey of India Halts Fortnightly Deforestation Alerts via AI-Based Anavaran Portal

• The Forest Survey of India (FSI), under the Ministry of Environment, Forest and Climate Change, has stopped issuing fortnightly deforestation alerts through its AI-based Anavaran portal.
• The Anavaran-Deforestation Alert System was operational from January 2024 and provided near-real-time alerts on forest cover loss using satellite imagery and machine learning.
• The system used Google Earth Engine for data processing and sent precise location alerts to state forest departments for targeted field inspections.
• The Anavaran portal ceased active monitoring in January 2026, and the alerts have not been updated since November 2025.
• The technology combined Sentinel-2 optical imagery for forest cover detection and Sentinel-1 Synthetic Aperture Radar data for monitoring during cloudy or monsoon periods.
• Algorithms used historical seasonal reference data to detect deviations in vegetation patterns and flag potential deforestation events, with a spatial resolution of 10–20 metres.
• Between January 2024 and October 2025, FSI issued 12,351 deforestation alerts, averaging 561 alerts per month, with higher activity between November and March.
• States recording the highest alerts included Punjab, Andhra Pradesh, Arunachal Pradesh, Nagaland, Manipur, Uttarakhand, Assam, and Tripura.
• The Anavaran system functioned as a pilot project and its effectiveness is currently under review.
• FSI also operates the Van Agni portal for near-real-time forest fire monitoring in India.
• Globally, similar systems like Terra-I in Latin America exist, but Anavaran used higher-resolution imagery for more detailed monitoring.

 CURRENT AFFAIRS: SPORTS NEWS

BCCI Announces ₹131 Crore Cash Reward for Team India After ICC Men’s T20 World Cup 2026 Victory

• The Board of Control for Cricket in India (BCCI) announced a ₹131 crore cash reward for Team India after winning the ICC Men’s T20 World Cup 2026.
• India national cricket team defeated New Zealand national cricket team in the final held at Narendra Modi Stadium on 8 March 2026.
• The reward will be distributed among players, coaching staff, support staff and selectors.
• The announcement was confirmed by Devajit Saikia, Secretary of the BCCI, who praised the team’s consistent performance and dedication during the tournament.
• With this victory, India won its third T20 World Cup title, becoming the most successful team in the tournament’s history.
• India also became the first team to successfully defend the ICC Men’s T20 World Cup title.
• In the final match, India scored 253/5, which became the highest total ever recorded in a T20 World Cup final.
• Sanju Samson played a crucial role by scoring 89 runs, helping India reach the record total.
• In the second innings, Jasprit Bumrah delivered an outstanding bowling performance, taking 4 wickets for 14 runs.
• India secured a commanding 96-run victory over New Zealand.
• Apart from the BCCI reward, India also received the official prize money from the International Cricket Council (ICC).
• The champion’s prize money for the tournament was USD 2.34 million (around ₹21.5 crore).
• New Zealand, as the runners-up, received USD 1.17 million (around ₹10.75 crore).
• Sanju Samson was awarded the Player of the Series, while Jasprit Bumrah received the Player of the Match award in the final.
• The ₹131 crore reward announced by BCCI is ₹6 crore higher than the ₹125 crore reward announced after India’s T20 World Cup victory in 2024.
• The ₹131 crore announcement stands as one of the largest cash rewards given by the BCCI for a national team victory.

About BCCI

• The Board of Control for Cricket in India is the principal national governing body of the sport of cricket in India.
• Its headquarters are situated at the Cricket Centre in Wankhede Stadium, Mumbai. BCCI is the wealthiest governing body of cricket in the world. 
• Founded: December 1928

India and New Zealand Launch Centenary Sports Cooperation Programme 2026 to Mark 100 Years of Sporting Relations

• India and New Zealand have initiated discussions to expand bilateral sports cooperation in 2026, marking 100 years of sporting relations between the two countries.
• A high-level meeting was held in New Delhi between Mansukh Mandaviya, Union Minister for Youth Affairs and Sports, and a New Zealand sports delegation led by Chris Bishop, Associate Minister for Sport and Recreation.
• The meeting focused on strengthening sports diplomacy and launching the India–New Zealand Centenary Sports Cooperation Programme 2026.
• The sporting relationship between the two nations dates back to 1926, when the Indian Army hockey team toured New Zealand, marking one of the earliest sporting exchanges.
• The centenary programme aims to build on this legacy through new collaborative initiatives in sports development and training.
• The New Zealand delegation also included Patrick John Rata, New Zealand High Commissioner to India, Ross Taylor, former international cricketer, and Raelene Castle, Chief Executive Officer of Sport New Zealand.
• The Indian side included officials from the Ministry of Youth Affairs and Sports, Sports Authority of India, Indian Olympic Association, and representatives of various national sports federations.
• Both countries identified several priority sports for collaboration, including rugby, rowing, canoeing, sailing, athletics and cycling.
• These sports were selected due to New Zealand’s expertise in these disciplines and the increasing interest in these sports in India.
• As part of the centenary celebrations, both countries are planning sports and cultural exchange initiatives, including the proposed India–New Zealand Sports and Culture Week.
• The programme aims to bring together athletes, coaches and communities from both nations, while promoting people-to-people connections and strengthening sporting ties between India and New Zealand.

CURRENT AFFAIRS: IMPORTANT DAYS

National No Smoking Day 2026 Observed on March 11

• National No Smoking Day 2026 is observed on March 11, 2026, which falls on the second Wednesday of March each year.
• The day aims to encourage smokers to quit tobacco by providing support, resources and awareness about the health benefits of quitting smoking.
• World No Tobacco Day 2026 is expected to focus on the theme “Unmasking the appeal – countering nicotine and tobacco addiction.”
• The observance was first introduced in 1984 in the United Kingdom, originally held on Ash Wednesday, and later adopted as an annual event on the second Wednesday of March.
• The initiative is widely associated with campaigns supported by organisations such as the British Heart Foundation, which promote awareness about the dangers of smoking and tobacco use.
• The primary objective of National No Smoking Day is to help individuals overcome nicotine addiction and adopt healthier lifestyles.
• Various public awareness campaigns, counselling services and community support activities are organised to help smokers quit tobacco.
• Research indicates that around one in ten smokers may attempt to quit smoking on this day, highlighting its impact as a global awareness initiative.
• The observance is different from World No Tobacco Day, which is observed annually on May 31 to highlight the health risks associated with tobacco use.

Daily CA One- Liner: March 12

• The Government of India (GoI) sets Ground Level Credit (GLC) targets annually for the agriculture and allied sectors, which banks must achieve during the financial year.
• The Insurance Regulatory and Development Authority of India (IRDAI) granted Certificates of Registration (CoR) to Allianz Jio Reinsurance Limited (AJRL) and Kiwi General Insurance Limited to commence insurance operations in India.
• Nashik Municipal Corporation (NMC) achieved a historic milestone by listing Maharashtra’s first-ever Urban Local Body (ULB) Green Municipal Bonds on the National Stock Exchange of India (NSE) in Mumbai, Maharashtra.
• PhonePe Limited launched the RuPay ‘On-The-Go’ Card, a National Common Mobility Card (NCMC) designed for contactless payments across public transport systems in India.
• India and Uzbekistan jointly launched a structured pharmaceutical and nutraceutical corridor to expand access to the CIS (Commonwealth of Independent States) and the wider Eurasian healthcare market, valued at USD 7–10 billion.
• The Stockholm International Peace Research Institute (SIPRI) released the report titled ‘Trends in International Arms Transfers, 2025’.
• The Defence Research & Development Organisation (DRDO) and Indian Navy conducted four successful in-flight release trials of the indigenous Air Droppable Container (ADC-150).
• The North Atlantic Treaty Organisation (NATO) commenced its biennial Arctic military exercise named ‘Cold Response 2026’ across Northern Norway and Finland.
• The 7th edition of the India–Japan joint military exercise Dharma Guardian 2026 concluded at Chaubattia after a two-week training period from 24 February to 8 March 2026.
• Rahul Bhatia, billionaire entrepreneur and co-founder of IndiGo, has taken charge as the airline’s interim Chief Executive Officer (CEO) following the resignation of Pieter Elbers.
• AquaAirX Autonomous Systems, a Bengaluru-based deep-tech startup, introduced ‘AVATAAR (Amphibious Vehicle for Autonomous Tactical Aerial & Aquatic Reconnaissance)’, India’s first amphibious drone capable of operating in both air and underwater.
• The Forest Survey of India (FSI), under the Ministry of Environment, Forest and Climate Change, has stopped issuing fortnightly deforestation alerts through its AI-based Anavaran portal.
• Indian Railways launched the SHINE App on International Women’s Day (8 March 2026) to strengthen workplace safety for women employees
• The Narcotics Control Bureau (NCB) dismantled a major pan-India drug trafficking network named “Team Kalki” that operated through darknet marketplaces and encrypted messaging platforms
• The Maharashtra Legislative Assembly passed two important bills: the Maharashtra Land Revenue Code Amendment Bill and the Maharashtra Stamp Amendment Bill 2026 to improve administrative efficiency and better utilisation of government land
• The Mizoram Legislative Assembly unanimously passed a resolution seeking the inclusion of the Mizo language in the Eighth Schedule of the Constitution of India
• India has dispatched 1,000 metric tons of rice to Malawi as humanitarian assistance to help the country address food shortages caused by a severe drought
• The cheetah population in India has reached 53 after Cheetah Jwala, a Namibian cheetah, gave birth to five cubs at Kuno National Park in Madhya Pradesh
• Shah Rukh Khan, Bollywood actor and entrepreneur, has made his debut in the Hurun Global Rich List 2026 with an estimated net worth of 1.3 billion US dollars
• The Board of Control for Cricket in India (BCCI) announced a ₹131 crore cash reward for Team India after winning the ICC Men’s T20 World Cup 2026
• India and New Zealand have initiated discussions to expand bilateral sports cooperation in 2026, marking 100 years of sporting relations between the two countries
• National No Smoking Day 2026 is observed on March 11, 2026, which falls on the second Wednesday of March each year