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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Issues 2026 Prudential Norms to Regulate Dividend Declaration by Commercial Banks

• The Reserve Bank of India (RBI) issued the RBI (Commercial Banks – Prudential Norms on Declaration of Dividend and Remittance of Profits) Directions, 2026 to regulate how commercial banks declare dividends.
• The RBI repealed the 2025 dividend framework and introduced revised prudential norms, which will come into effect from the Financial Year 2026–27 (FY27).
• Under the new dividend payout rules, the maximum dividend payout for banks incorporated in India is capped at 75% of the Profit After Tax (PAT) for the financial year.
• Earlier, dividend declaration was mainly linked to the Capital to Risk-Weighted Assets Ratio (CRAR) and the level of Net Non-Performing Assets (NPAs).
• Under the revised RBI guidelines, dividend declaration will now be primarily linked to the Common Equity Tier 1 (CET-1) ratio, which measures the core capital strength of banks.
• According to the new prudential norms, banks with a CET-1 ratio of 8% or below are not allowed to declare any dividend.
• The revised framework aims to strengthen capital adequacy, ensure financial stability, and promote prudent profit distribution among commercial banks.

Securities and Exchange Board of India Forms High-Level Panel to Develop Technology Roadmap for Securities Market

• The Securities and Exchange Board of India (SEBI) has set up a high-level expert working group to prepare short-term and long-term technology roadmaps for India’s securities market ecosystem.
• The Working Group is chaired by Dr D B Phatak, Professor Emeritus at IIT Bombay, and the announcement was made by SEBI Chairman Tuhin Kanta Pandey.
• The group will examine future technology architecture needed to support the next phase of growth in India’s capital markets.
• SEBI has developed internal technology tools like “SEBI Sudarshan”, a real-time surveillance system for monitoring unauthorised digital market activity.
• Another tool, “SEBI R(AI)DAR”, uses artificial intelligence (AI) to review and monitor advertisements related to securities markets.
• SEBI is strengthening supervisory and governance frameworks for Market Infrastructure Institutions (MIIs) such as stock exchanges, clearing corporations, and depositories.
• The regulator has mandated external independent performance evaluations of MIIs and their statutory committees.
• SEBI has issued governance guidelines to strengthen board oversight and clarify reporting lines for key management personnel (KMPs).
• The initiative comes amid increasing trading activity, digital participation, and the complexity of market operations, highlighting the importance of technology infrastructure and supervisory capabilities.

Recent News :

• In March 2026, The Securities and Exchange Board of India (SEBI) deployed an in-house Artificial Intelligence (AI) system named ‘Sudarshan’ to strengthen digital surveillance of financial content across online platforms.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Axis Max Life Insurance Teams Up with Saarathi Finance to Provide Credit-Linked Insurance for Micro, Small and Medium Enterprises

• Axis Max Life Insurance Limited has entered into a strategic Corporate Agent partnership with Saarathi Finance and Credit Private Limited to strengthen financial protection for Micro, Small and Medium Enterprises (MSMEs) in India.
• Under the partnership, Group Credit Life Secure (GCLS) insurance will be integrated with loans provided to MSMEs, ensuring borrowers receive financial protection along with credit support.
• The insurance coverage provides a safety net for entrepreneurs by protecting loan obligations in case of unexpected events, thereby reducing financial stress on businesses and families.
• The collaboration aligns with India’s broader objective of achieving universal insurance coverage by 2047 and promotes financial inclusion and risk protection for MSMEs.
• Saarathi Finance is a next-generation greenfield NBFC focused on bridging the credit gap for India’s Micro, Small, and Medium Enterprises (MSMEs).
• The partnership strengthens credit-linked insurance solutions for MSME borrowers, combining insurance and lending services.
• Managing Director and Chief Executive Officer, Axis Max Life : Sumit Madan

About Axis Max Life Insurance Limited :

• Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited.

Bank of Baroda Introduces ‘bob Women Sapphire Savings Account’ Offering Banking, Health, and Lifestyle Benefits for Women

• Bank of Baroda (BoB) launched a special savings account for women named ‘bob Women Sapphire Savings Account’ to provide banking, healthcare, and lifestyle benefits for women customers in India.
• The bob Women Sapphire Savings Account is exclusively available for women customers and requires a Monthly Average Balance (MAB) of ₹1 lakh.
• The account offers health and wellness benefits, including ₹10 lakh cancer care coverage for women aged between 18 and 60 years.
• It also provides complimentary online doctor consultations for up to six family members.
• Account holders receive up to 15% concession on medicines and up to 20% concession on pathology tests as part of the healthcare benefits.
• Customers are issued the bob Bhoomi RuPay Select Debit Card, which provides various lifestyle privileges.
• The debit card benefits include domestic airport lounge access, complimentary gym membership, health check-ups, spa or salon services, and Over-The-Top (OTT) subscriptions.
• Account holders also receive a 50% first-year fee waiver in the form of reward points on the BOBCARD Tiara Credit Card, a premium women-centric credit card.
• Additional benefits include concessions on locker charges and a 50% waiver on home loan processing charges for account holders.
• The initiative aims to enhance financial inclusion, health security, and lifestyle benefits for women banking customers in India.

About Bank of Baroda (BoB):

• Founded: 1908
• Headquarters: Vadodara, Gujarat, India
• Managing Director & CEO: Debadatta Chand
• Tagline: "India’s International Bank"

South Indian Bank Launches Digital Loan Against Mutual Funds (LAMF) Facility for Secured Credit

• South Indian Bank (SIB) has launched a digitally integrated Loan Against Mutual Funds (LAMF) facility to provide secured credit to investors using their mutual fund holdings as collateral.
• The bank has partnered with smallcase, a fintech firm providing the secured credit technology stack and API-based digital infrastructure for the LAMF service.
• The loan facility starts at an interest rate of 9.99% per annum, allowing customers to access liquidity without redeeming long-term investments.
• The platform offers a fully digital end-to-end process, including pledging mutual fund units, loan approval, fund disbursal, and release of pledged units.
• SIB became one of the first banks in India to provide a fully integrated LAMF solution to fintech partners, enabling digital wealth platforms and financial apps to embed secured credit services within their platforms.
• The service is available to both South Indian Bank customers and users of digital wealth platforms integrated through the bank’s Lending Service Provider (LSP)
• The solution leverages API-led integration to ensure a compliant, scalable, and seamless experience for investors accessing secured credit digitally.

About South Indian Bank:

• Founded Year: 1929
• Headquarters: Thrissur, Kerala, India
• CEO: P.R. Seshadri
• Slogan: "Experience Next-Gen Banking"

PayU and GoKwik Collaborate to Introduce India’s First Integrated Conversion-to-Completion Stack for Direct-to-Consumer Brands

• PayU, a leading digital payments and financial services provider in India, partnered with GoKwik, a checkout optimization platform for Direct-to-Consumer (D2C) brands.
• The partnership aims to launch India’s first Integrated Conversion-to-Completion (C2C) stack to enhance checkout efficiency and payment completion for online shoppers.
• The Integrated Commerce Platform combines GoKwik’s conversion intelligence and checkout tools with PayU’s digital payment infrastructure, enabling D2C brands to manage customer conversion and payments through a single platform.
• The collaboration addresses checkout drop-offs, payment failures, and conversion inefficiencies, which are referred to as the “silent revenue killer” in the D2C sector.
• The partnership simplifies the commerce technology stack, improves checkout conversions, reduces transaction failures, enhances payment success rates, and strengthens India’s digital e-commerce ecosystem.
• PayU operates under Prosus and offers services regulated by the Reserve Bank of India (RBI), providing advanced digital financial solutions for merchants, banks, and consumers.
• GoKwik supports over 15,000 D2C brands, helping improve conversion rates and reduce Return-to-Origin (RTO) orders.
• The collaboration reflects a commitment to empowering India’s D2C ecosystem, driving innovation, employment, and digital adoption in the country.
• This partnership enables D2C brands to move from fragmented solutions to a single integrated commerce layer, improving operational efficiency and revenue assurance.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Cabinet Committee on Economic Affairs Approves ₹3,630.77 Crore Greenfield Connectivity Corridor to Noida International Airport

• The Cabinet Committee on Economic Affairs, chaired by Narendra Modi, approved the revised total capital cost of ₹3,630.77 crore for the Greenfield connectivity corridor to Noida International Airport (Jewar International Airport).
• The Greenfield connectivity corridor project will be implemented across Uttar Pradesh and Haryana under the Hybrid Annuity Mode (HAM).
• The project involves the construction of a 31.42 km long corridor connecting the Delhi–Faridabad–Ballabhgarh–Sohna spur of the Delhi–Mumbai Expressway to the airport.
• The corridor will provide direct and faster connectivity for passengers and cargo between the National Capital Region and the new international airport at Jewar, significantly reducing travel time.
• The project will integrate with major transport networks including the Eastern Peripheral Expressway, Yamuna Expressway, and the Dedicated Freight Corridor.
• This integration will help create a multimodal transport network, enabling seamless movement of passengers and freight across key transport corridors in the National Capital Region.
• Out of the 42 km corridor, around 11 km will be constructed as an elevated highway connecting the DND–Ballabhgarh Bypass with Noida International Airport.
• The additional cost for the elevated section is estimated at ₹689.24 crore, with the Government of Haryana contributing ₹450 crore.
• The project will be executed under the Hybrid Annuity Mode, a public–private partnership model used for highway development in India, where the government shares project costs with private developers.
• Noida International Airport, located in Jewar in the Gautam Buddha Nagar district of Uttar Pradesh, is one of India’s largest upcoming aviation infrastructure projects.
• The airport is expected to serve as a major aviation hub for the National Capital Region and reduce congestion at existing airports in New Delhi while supporting growing passenger and cargo traffic.

Union Cabinet Approves Extension of Jal Jeevan Mission till 2028 with Revised Outlay

• The Union Cabinet of India chaired by Narendra Modi approved the extension of the Jal Jeevan Mission till December 2028 with an enhanced financial outlay.
• Under the extended framework called Jal Jeevan Mission 2.0, the focus will shift from infrastructure creation to service delivery and sustainable rural drinking water supply.
• The revised mission outlay has been increased to ₹8.69 lakh crore to strengthen water supply infrastructure and service delivery systems across rural India.
• When the Jal Jeevan Mission was launched in 2019, the total central assistance was ₹2.08 lakh crore. With the restructuring, the central government share has been increased by ₹1.51 lakh crore to ₹3.59 lakh crore.
• A uniform national digital framework called “Sujalam Bharat” will be introduced to digitally map the entire rural water supply chain and improve transparency and monitoring.
• Under the Sujalam Bharat framework, every village will receive a unique “Sujal Gaon” or Service Area Identification number to track the drinking water supply system from water source to household tap connection.
• The mission also emphasizes strengthening local governance and community participation in rural water supply systems.
• Through the “Jal Arpan” initiative, Gram Panchayats and Village Water and Sanitation Committees will verify and formally certify the completion of water infrastructure projects.
• A Gram Panchayat will declare itself “Har Ghar Jal” only after ensuring proper operation and maintenance of the water supply system.
• The government will promote “Jal Utsav”, an annual community event encouraging villagers to participate in monitoring, maintenance and water conservation activities.
• Since the launch of the Jal Jeevan Mission in 2019, significant progress has been made in rural tap water connectivity.
• At the start of the mission, only 3.23 crore rural households (17%) had access to tap water connections.
• Under the mission, over 12.56 crore additional tap water connections have been provided.
• Out of 36 crore rural households in India, about 15.80 crore households (81.61%) now have access to tap water supply.
• The Jal Jeevan Mission 2.0 aims to ensure functional tap water connections to all rural households by December 2028 and move towards a 24×7 rural drinking water supply system.
• The initiative aligns with the national vision of Viksit Bharat 2047, focusing on sustainable water management, efficient infrastructure and community participation to achieve universal safe drinking water access.

About JJM

• The Jal Jeevan Mission (JJM), launched by the Ministry of Jal Shakti in 2019, is a flagship initiative aiming to provide functional household tap connections (FHTCs) to every rural household in India by 2028. It guarantees 55 litres of potable water per person daily, focusing on long-term water sustainability through community participation and infrastructure.

Chhattisgarh Cabinet Approves Draft Freedom of Religion Bill 2026

• The Chhattisgarh State Cabinet approved the draft Freedom of Religion Bill 2026 aimed at preventing illegal religious conversions in the state.
• The decision was taken during a Cabinet meeting held in Raipur, chaired by Chief Minister Vishnu Deo Sai.
• The Freedom of Religion Bill 2026 seeks to curb religious conversions carried out through force, inducement, fraud or undue influence.
• After Cabinet approval, the bill will be introduced in the Chhattisgarh Legislative Assembly for further discussion and approval.
• The main objective of the bill is to prevent unlawful religious conversions while protecting the constitutional right of individuals to freely practice their faith.
• The draft bill proposes to prohibit conversions carried out through force or coercion, inducements or financial incentives, fraud or misrepresentation, and undue influence or manipulation.
• The legislation is intended to address cases where individuals may be pressured or misled into changing their religion.
• If passed by the legislative assembly, the Freedom of Religion Bill 2026 will become part of the legal framework governing religious conversions in Chhattisgarh.
• The Constitution of India guarantees freedom of religion under Articles 25 to 28, allowing individuals to freely profess, practice and propagate their religion.
• At the same time, the Constitution allows governments to regulate religious activities in the interest of public order, morality and health.

RECENT NEWS

• Honorable Union Minister for Youth Affairs and Sports Dr Mansukh Mandaviya announced that the Khelo India Tribal Games 2026 (KITG) will be held in Chhattisgarh. This edition will held from March 26 to April 6 2026. 

About Chhattisgarh:
• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• National Parks: Indravati National Park, Kanger Valley National Park, Guru Ghasidas (Sanjay) National Park
• Wildlife Sanctuaries: Achanakmar Wildlife Sanctuary, Badalkhol Wildlife Sanctuary, Udanti Wildlife Sanctuary, Sitanadi Wildlife Sanctuary

Gujarat Launches ‘Lake and Air Watch’ Initiative to Monitor Urban Air Quality and Lake Health

• The Gujarat Government launched the ‘Lake and Air Watch’ initiative to monitor and improve air quality and lake health in urban areas across the state.
• The project will be implemented by the Gujarat Urban Development Mission under the Urban Development and Urban Housing Department.
• Under the initiative, air quality monitoring systems will be installed in 17 municipal corporations and 152 municipal areas.
• These systems will provide real-time Air Quality Index data, enabling authorities to monitor urban air pollution levels continuously.
• The initiative aims to address environmental challenges caused by rapid urbanization, including declining lake water quality, reduced groundwater recharge and worsening air pollution.
• The project will integrate monitoring systems across multiple government departments, allowing authorities to identify environmental issues early and implement timely corrective measures.
• Air quality monitoring stations will continuously measure pollution levels and generate real-time Air Quality Index data across cities and towns.
• If Air Quality Index levels exceed safe limits, the system will automatically generate alerts for authorities to take immediate action.
• Another important feature of the initiative is the use of satellite technology to monitor the health of urban lakes.
• Satellite imagery will help analyse lake areas, detect pollution, identify waste accumulation and monitor algae growth.
• The technology will help address environmental issues such as water pollution, siltation and declining water quality in urban lakes.
• The initiative will be implemented with an estimated budget provision of ₹10 crore.
• The Gujarat Urban Development Mission will oversee the project and coordinate between different departments to ensure effective environmental monitoring and sustainable urban development.

RECENT NEWS

• The Gujarat government launched herSTART 5.0 a major initiative which is aimed at strengthening women led startups and entrepreneurship in the state. This programme was inaugurated by Chief Minister Bhupendra Patel at Gujarat University in Ahmedabad. 

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

India Becomes Largest Exporter of Cotton Products to the United States in 2025

• India overtook China to become the largest exporter of cotton products to the United States in 2025, according to analysis by the United States Department of Agriculture (USDA).
• Cotton products include apparel, garments and home textiles, which form a significant share of global textile trade.
• In 2025, United States imports of cotton products from India reached around 0.6 million tonnes, surpassing China’s exports of about 0.5 million tonnes.
• The United States imported around 3.3 million tonnes of cotton products in 2025, which is close to its 15-year average import level.
• Despite stable overall imports, India increased its market share and emerged as the leading supplier to the United States.
• China’s share in the United States cotton products market has declined significantly over the past decade.
• According to the USDA report, imports from China dropped to about 0.5 million tonnes in 2025, reflecting changing global trade patterns.
• One major reason for the decline was the imposition of higher tariffs by the United States on Chinese goods, ranging from 10 percent to 125 percent.
• These tariffs encouraged American companies to diversify sourcing away from China.
• Several other countries also expanded their cotton product exports to the United States, including Vietnam, Bangladesh, Pakistan, Mexico and Cambodia.
• This reflects a global trend of diversifying supply chains to reduce dependence on a single country.

Prime Minister Narendra Modi Launches Development Projects Worth ₹5,600 Crore in Tiruchirappalli, Tamil Nadu

• Prime Minister Shri Narendra Modi, inaugurated and laid the foundation stone for multiple development projects worth about ₹5,600 crore in Tiruchirappalli, Tamil Nadu.
• The projects focus on strengthening clean energy infrastructure, petroleum manufacturing, highways, railways and rural connectivity, aiming to improve energy access, transport connectivity and economic opportunities in the state.
• The Prime Minister laid the foundation stone for the City Gas Distribution network project of Bharat Petroleum Corporation Limited in Nilgiris district and Erode district.
• The City Gas Distribution project involves an investment of about ₹3,700 crore and aims to expand access to clean fuel in the region.
• The network will provide Piped Natural Gas connections to nearly nine lakh households and several commercial establishments.
• Natural gas is considered a cleaner alternative to fuels such as coal and diesel, and the project is expected to reduce emissions and promote environmentally sustainable energy use.
• The Prime Minister also dedicated the Lube Blending Plant of Indian Oil Corporation Limited located in Chennai to the nation.
• The facility is one of the largest lubricant blending plants in the world and will support the growing demand for lubricants in the automotive, industrial and manufacturing sectors.
• The plant will boost domestic production and help reduce dependence on imports, thereby saving foreign exchange.
• Under the Pradhan Mantri Gram Sadak Yojana, the Prime Minister inaugurated 370 kilometres of rural roads, improving connectivity between villages and nearby towns.
• The improved road infrastructure will help patients access healthcare facilities faster and enable students to reach educational institutions more easily.
• The Prime Minister also laid the foundation stone for a highway bypass near the historic Gangaikonda Cholapuram Temple, which was built by Rajendra Chola I.
• The temple is a United Nations Educational, Scientific and Cultural Organization recognized heritage site, attracting tourists and pilgrims from around the world.
• The new bypass will divert heavy traffic away from the temple complex, improving safety for visitors and helping preserve the heritage monument.
• The Prime Minister also flagged off several new train services connecting major cities in Tamil Nadu, including Nagercoil, Coimbatore, Rameswaram, Tirunelveli, Mayiladuthurai and Karaikkudi.
• These railway services are expected to boost tourism, enhance regional mobility and generate employment opportunities in the state.

RECENT NEWS

• In a major boost to India’s innovation ecosystem, Tamil Nadu has unveiled the country’s first dedicated Deeptech Startup Policy, setting a national benchmark for science-driven entrepreneurship. The Tamil Nadu Deep-Tech Startup Policy 2025–26 aims to transform cutting-edge research into scalable commercial solutions, positioning the State as a hub for frontier and deep science technologies.

About Tamil Nadu:

• Capital: Chennai
• Chief Minister: K. Stalin
• Governor: Rajendra Vishwanath Arlekar
• National Parks: Mudumalai National Park, Mukurthi National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Guindy National Park
• Wildlife Sanctuaries: Vedanthangal Bird Sanctuary, Vettangudi Bird Sanctuary, Kalakad Wildlife Sanctuary, Sathyamangalam Wildlife Sanctuary, Vallanadu Wildlife Sanctuary, Megamalai Wildlife Sanctuary, Point Calimere Wildlife Sanctuary

Unique Identification Authority of India Launches First Structured Bug Bounty Program to Strengthen Aadhaar Security

• The Unique Identification Authority of India (UIDAI) launched its first structured Bug Bounty Program to strengthen the security of the Aadhaar digital ecosystem.
• The initiative aims to identify potential vulnerabilities in key UIDAI digital platforms with the help of cybersecurity professionals and ethical hackers.
• The program is designed to proactively detect security weaknesses in Aadhaar-related systems before they can be exploited by cyber attackers.
• Under the program, selected cybersecurity experts will test UIDAI systems and responsibly report any vulnerabilities discovered.
• A panel of 20 experienced cybersecurity researchers and ethical hackers has been selected to conduct structured security testing of UIDAI platforms.
• The researchers will identify vulnerabilities across categories such as critical, high, medium and low risk issues.
• Financial rewards will be provided depending on the severity of the vulnerabilities identified under the Bug Bounty Program.
• The program will evaluate the security of major Aadhaar-related platforms including the UIDAI official website, the myAadhaar portal and the Secure QR Code application.
• These platforms play an important role in providing identity-related services to millions of residents across India.
• To implement the program, UIDAI partnered with ComOlho IT Private Limited, a cybersecurity solutions provider, which will coordinate the vulnerability testing process.
• The collaboration will ensure that security testing follows responsible disclosure practices and proper vulnerability management.
• The Aadhaar security framework already includes regular security audits, vulnerability assessments, penetration testing and continuous system monitoring.
• The Bug Bounty Program adds an additional security layer by enabling independent researchers to detect hidden vulnerabilities and improve the overall resilience of Aadhaar digital systems.

NITI Aayog Releases Fiscal Health Index 2026 Assessing Financial Performance of States

• NITI Aayog released the Fiscal Health Index (FHI) 2026, which evaluates the fiscal performance and financial sustainability of Indian states.
• The index classifies states into four categories – Achiever, Performer, Aspirational and Front Runner (for North-Eastern and Himalayan states) based on indicators such as revenue mobilization, expenditure quality, fiscal deficit and debt management.
• In the Performer category, the states include Madhya Pradesh, Haryana, Bihar, Tamil Nadu and Rajasthan.
• These states maintain relatively balanced fiscal structures, but still face moderate fiscal deficits and limited fiscal flexibility.
• The Aspirational category includes West Bengal, Kerala, Andhra Pradesh and Punjab, which continue to face significant fiscal pressures.
• Major fiscal challenges for these states include fiscal deficits frequently exceeding limits set under the Fiscal Responsibility and Budget Management Act, high debt levels between 35–45% of Gross State Domestic Product, and large committed expenditures accounting for 50–60% of revenue receipts.
• Among the North-Eastern and Himalayan states, Arunachal Pradesh ranked first, followed by Uttarakhand and Tripura.
• These states demonstrated stronger fiscal performance across indicators such as expenditure quality, revenue mobilization and debt management.
• Arunachal Pradesh and Meghalaya improved their rankings due to higher capital expenditure and developmental spending.
• In the Performer category among North-Eastern and Himalayan states, the states include Assam, Meghalaya, Mizoram, Sikkim and Tripura.
• These states show moderate fiscal performance with mixed results across indicators, performing well in some areas while facing challenges in debt sustainability or fiscal prudence.
• The Aspirational states in the North-Eastern and Himalayan region include Himachal Pradesh, Manipur and Nagaland, which face weaker revenue mobilization and higher expenditure commitments.
• State governments play a major role in India’s fiscal system as they are responsible for delivering key public services such as healthcare, education and infrastructure development.
• Indian states account for nearly one-third of India’s general government debt, making effective fiscal management crucial for maintaining sustainable public finances.
• The Fiscal Health Index 2026 helps monitor the fiscal trajectory of states and promote better financial discipline and policy planning.

About NITI Aayog

• NITI Aayog (National Institution for Transforming India) is the premier policy think tank of the Government of India, established on January 1, 2015, replacing the Planning Commission. It fosters cooperative federalism, acts as a knowledge hub, and provides strategic, technical advice on national development. It focuses on, digital initiatives, sustainable goals (SDGs), and economic reforms

New Delhi Deploys India’s First Microalgae-Based PureAir Tower to Combat Urban Air Pollution

• New Delhi has deployed India’s first microalgae-based PureAir Tower along the Aerocity highway corridor to address urban air pollution caused by vehicular emissions.
• The tower has been installed on a busy road median, converting conventional road infrastructure into an active air purification system.
• The project serves as a pilot initiative to reduce pollution on one of the capital’s high-traffic corridors.
• Unlike conventional smog towers that rely on mechanical filters, the PureAir Tower uses photosynthetic microalgae technology to absorb pollutants directly from the surrounding air.
• The system captures carbon dioxide, particulate matter and nitrogen oxides at street level.
• Through natural biological processes, these pollutants are converted into oxygen and algal biomass.
• The microalgae air purification system operates with minimal energy consumption and produces no secondary filter waste, making it a sustainable biotechnology-based solution.
• The project was executed by C P Arora Private Limited in collaboration with Carbelim Pvt Ltd.
• Carbelim Pvt Ltd is a climate-technology start-up incubated at Indian Institute of Technology Madras and supported by the Enterprise Incubation Centre of Indian Institute of Management Lucknow.
• Each PureAir Tower is designed to deliver an air purification effect comparable to more than 15 mature trees.
• The project also proposes the deployment of BioDivider panels, which can transform road dividers into continuous green corridors that absorb vehicular emissions.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United States President Donald Trump Unveils $300 Billion Reliance Partnership to Construct First New U.S. Refinery in Nearly 50 Years

• Donald Trump, President of the United States, announced the construction of the first new major oil refinery in nearly 50 years with investment from Reliance Industries Limited (RIL) led by Mukesh Ambani.
• The refinery will be developed at the Port of Brownsville in Texas, marking the first major refinery built in the U.S. since 1977.
• The last refinery of similar scale in the country was established by Marathon Petroleum Corporation at Garyville in 1977.
• The project will be developed by America First Refining (AFR) with investment linked to Reliance Industries Limited (RIL).
• The refinery project involves an estimated investment of about USD 300 billion, making it one of the largest investments in U.S. history.
• The facility is designed to process about 1.2 billion barrels (BBL) of United States shale oil, valued at around USD 125 billion.
• The refinery is expected to produce approximately 50 billion gallons (BG) of refined petroleum products, valued at around USD 175 billion.
• Donald Trump announced the project through a post on the social media platform Truth Social, calling it a landmark deal for the U.S. energy sector.
• The refinery at Port of Brownsville is expected to create thousands of jobs and is projected to become one of the cleanest refineries in the world.
• The project aligns with Trump’s “America First” agenda, aimed at lowering taxes, streamlining permits, and achieving energy dominance.
• The refinery initiative also aims to strengthen U.S. energy security, increase domestic oil production, and stabilise global energy markets.
• The announcement comes amid geopolitical tensions in West Asia, including Iranian strikes on regional energy infrastructure that disrupted oil supply through the Strait of Hormuz.
• By boosting domestic production and exports, the refinery is expected to enhance S. national security and reduce dependence on imported refined petroleum products.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

RM Nachammai Appointed First Woman Chief of a Functional Nuclear Power Plant

• RM Nachammai became the first woman to head the operations of a functional nuclear power plant in India under the Nuclear Power Corporation of India Limited (NPCIL).
• She has been appointed Chief Superintendent of Kaiga Generating Station Units 3 and 4 in Karnataka, effective 15 March 2026.
• As Chief Superintendent, she will oversee operations, maintenance, and engineering support divisions, including reactor operations, safety systems, and plant performance.
• Her appointment is a milestone for gender representation in India’s nuclear energy sector, which employs around 900 women out of nearly 10,000 employees.
• India aims to expand nuclear power capacity to around 100 gigawatts by 2047, making skilled leadership in plant operations critical.
• Nachammai has 35+ years of experience in nuclear power plant operations and holds a degree in Electrical and Electronics Engineering from the University of Madras, where she secured a university rank in 1990.
• She joined NPCIL in 1991, topped the second batch of engineer trainees, and received the Vikram Sarabhai Award.
• She has served in key roles at Madras Atomic Power Station and Kaiga Units 1 and 2, earning the NPCIL Special Contribution Award in 2010, 2014, and 2017.
• The Kaiga Nuclear Power Station operates four Pressurised Heavy Water Reactors (PHWRs) of 220 MWe each, with a total installed capacity of 880 MW, and upcoming Units 5 and 6 will increase capacity to 2,280 MW.
• Pressurised Heavy Water Reactors use heavy water as both coolant and moderator.
• Nachammai’s appointment underscores the importance of gender inclusion, experienced operational leadership, and safety, efficiency, and reliability in India’s nuclear energy programme.

CURRENT AFFAIRS: AWARDS AND HONOURS

Amol Palekar to Receive META Lifetime Achievement Award 2026

• Veteran actor and filmmaker Amol Palekar will be honoured with the META Lifetime Achievement Award 2026 at the Mahindra Excellence in Theatre Awards (META).
• The award recognises his outstanding contribution to Indian theatre, cinema and storytelling over several decades.
• The honour will be presented during the 21st edition of the Mahindra Excellence in Theatre Awards, scheduled to be held in New Delhi from 19 March to 25 March 2026.
• The Mahindra Excellence in Theatre Awards (META) is one of India’s most prestigious theatre festivals celebrating excellence in stage performances.
• The awards are instituted by the Mahindra Group and produced by Teamwork Arts to promote theatrical creativity across India.
• The META Lifetime Achievement Award 2026 will be presented during the concluding ceremony of the week-long festival.
• Amol Palekar made significant contributions to Indian theatre by experimenting with new performance formats and staging plays in unconventional venues.
• He introduced theatre performances in parks, terraces, canteens and garages, helping bring theatre closer to audiences and expand its accessibility.
• Apart from theatre, Amol Palekar is widely known for his contributions to Hindi cinema during the 1970s, where he portrayed realistic middle-class characters.
• His notable films include Chhoti Si Baat, Chitchor, Bhumika, Baaton Baaton Mein and Gol Maal.
• These performances established him as the iconic “boy-next-door” hero in Indian cinema.
• The META 2026 festival received a record 422 entries from theatre groups across India, representing more than 20 states and over 100 cities.
• From these entries, 10 productions have been shortlisted to compete across 13 award categories during the festival.
• The shortlisted plays represent diverse cultural traditions and storytelling styles of Indian theatre.
• The jury panel for META 2026 includes prominent theatre personalities such as Amal Allana, Anuradha Kapur, Rajit Kapur, Satish Alekar and Ila Arun, who will evaluate the competing productions and recognise outstanding achievements in theatre.

CURRENT AFFAIRS: SPORTS NEWS

India Women’s Hockey Team Qualifies for International Hockey Federation Hockey World Cup 2026

• The India women's national field hockey team qualified for the FIH Hockey Women’s World Cup 2026 even before the semifinals of the Women’s Hockey World Cup Qualifiers held in Hyderabad.
• The qualification was confirmed after India secured a dominant 4–1 victory against Wales women's national field hockey team in a Pool B match.
• The match was played at GMC Balayogi Hockey Stadium, Hyderabad.
• Navneet Kaur scored a hat-trick with goals in the 29th, 34th and 55th minutes, while Sakshi Rana opened the scoring in the 7th minute.
• The Women’s Hockey World Cup Qualifiers feature eight teams divided into two pools, playing round-robin matches before the knockout stage.
• Pool A includes England, South Korea, Italy and Austria.
• Pool B includes India, Scotland, Uruguay and Wales.
• After the group stage, the top two teams from each pool advance to the semifinals.
• According to the qualification rules, the two finalists and the bronze medal winner secure direct qualification for the FIH Hockey Women’s World Cup 2026.
• India finished top of Pool B with a superior goal difference, securing a semifinal berth.
• A total of seven qualification spots are available from two tournaments held in Hyderabad (India) and Santiago, Chile.
• In the Santiago qualifiers, Australia, Chile and Ireland had already secured qualification for the World Cup.
• The Hyderabad qualifiers offer three direct spots for the two finalists and the bronze medal winner.
• The final qualification spot goes to the highest-ranked team finishing fourth across both tournaments.
• Since Japan (World Rank 15) finished fourth in the Chile event, and India (World Rank 9) already has a higher ranking and points advantage, India cannot fall below Japan in the standings.
• This mathematical scenario ensured India’s qualification for the FIH Hockey Women’s World Cup 2026 even before the semifinals.

Shailesh Kumar Wins Gold in Men’s High Jump T63 at World Para Athletics Grand Prix

• Indian para-athlete Shailesh Kumar won a gold medal in the men’s high jump T63 category at the World Para Athletics Grand Prix held in New Delhi.
• The reigning world champion secured the top position with a jump of 1.84 metres, though it was lower than his personal best of 1.91 metres.
• The event marked the beginning of his competitive season, and the athlete expressed satisfaction with his performance.
• Shailesh Kumar revealed that he had been recovering from pain in his left knee following his victory at the World Para Athletics Championships last year.
• Due to the injury, his training programme was designed for a gradual return to competition rather than aiming for record-breaking performances immediately.
• The main target for the season is the Asian Para Games, which is a major competition for Indian para-athletes.
• To improve his performance, he has been working on refining his take-off technique, which he believes will help him surpass his personal best of 1.91 metres.
• The competition lacked intensity as three-time Paralympic medallist Mariyappan Thangavelu withdrew from the event due to fitness issues.
• Both athletes train together in Bengaluru, and Shailesh acknowledged that competing against strong rivals motivates him to achieve better results.
• The World Para Athletics Grand Prix in New Delhi witnessed the participation of more than 200 Indian athletes, making it one of the largest para-athletics events held in India this year.
• The competition also provides official classification opportunities for para-athletes in different sports categories.
• The event also saw international participation, including 26 athletes from Russia.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Coursera Collaborates with Mission Karmayogi to Provide Skill Development for Civil Servants via iGOT Platform

• Coursera, a global edtech platform, partnered with the Government of India’s Mission Karmayogi to provide advanced upskilling for civil servants and government officials.
• Under this collaboration, Coursera will deliver curated online courses through the Integrated Government Online Training (iGOT) Karmayogi Platform, specifically via the iGOT Marketplace gateway.
• The partnership was announced by Chhavi Bhardwaj, Chief Executive Officer (CEO) of Karmayogi Bharat.
• The initiative aims to transform public administration from a “rule-based” system to a “role-based competency model” to improve public service delivery.
• The courses will focus on Emerging Technologies (Artificial Intelligence – AI), Infrastructure & Sustainability, Leadership & Governance, and Public Welfare.
• Mission Karmayogi, also known as the National Programme for Civil Services Capacity Building (NPCSCB), was launched in September 2020 by the Government of India.
• The mission aims to build a future-ready, citizen-centric, and technology-enabled civil service in India.
• The iGOT Karmayogi Digital Platform provides online courses, learning resources, and competency-building modules for government officials and civil servants.
• Through this collaboration, Coursera’s global learning content will support skill development, competency enhancement, and digital learning for public sector officials in India.

NITI Aayog Collaborates with Tata Electronics to Strengthen India’s Electronics and Semiconductor Sector

• Niti Aayog has strengthened its commitment to positioning India as a global leader in electronics manufacturing through strategic industry partnerships.
• Vice Chairman Suman Bery met with Tata Electronics leadership, including MD & CEO Randhir Thakur, to discuss collaboration aimed at accelerating growth in India’s electronics sector.
• The collaboration focuses on scaling electronic production, strengthening resilient supply chains, and enhancing India’s role in global value chains.
• The initiative aligns with the Atmanirbhar Bharat campaign in the semiconductor and advanced electronics sectors.
• Policy alignment with industry needs is emphasised by partnering with domestic players like Tata Electronics, known for semiconductor testing and mobile component production.
• Sustained collaboration between government institutions and industry leaders is essential to unlock investments, innovations, and job opportunities.
• The Union Budget 2026-27 increased funding for the Electronics Components Manufacturing Scheme (ECMS) to Rs 40,000 crore, supporting domestic manufacturing infrastructure.
• Over the past 11 years, India has become a significant electronics-manufacturing hub, achieving an almost six-fold increase in production.
• Growth in the sector has expanded the industrial base, created 5 million jobs, and strengthened its role in employment generation and economic advancement.
• The collaboration between Niti Aayog and Tata Electronics supports India’s global electronics hub ambitions and the government’s Atmanirbhar Bharat vision.

National Aeronautics and Space Administration’s Double Asteroid Redirection Test Mission Alters Didymos Asteroid’s Solar Orbit for First Time

• In 2022, The National Aeronautics and Space Administration (NASA) conducted the Double Asteroid Redirection Test (DART) by intentionally crashing a spacecraft into the asteroid moonlet Dimorphos to test asteroid deflection capabilities.
• Dimorphos measures about 170 meters, orbits the larger asteroid Didymos (~805 meters), forming a binary asteroid system.
• Before impact, Dimorphos had a 12-hour orbital period around Didymos, which shortened by 33 minutes after the impact, proving that spacecraft can alter asteroid motion.
• New observations indicate the DART impact slightly shifted the Didymos–Dimorphos system’s orbit around the Sun by about 15 seconds, marking the first time a human-made object changed a celestial body’s solar orbit.
• The asteroid system’s speed changed by 7 microns per second (≈1.7 inches per hour), a tiny effect that can accumulate over time to cause significant deflection.
• The momentum enhancement factor of the impact was about two, meaning the debris ejected doubled the effect of the spacecraft’s kinetic impact.
• DART ejected a huge cloud of rocky debris, providing additional thrust to Dimorphos, validating kinetic impact as a planetary defense technique.
• The impact highlights that targeting one member of a binary system can influence the entire asteroid pair.
• The DART mission was humanity’s first attempt to intentionally move a celestial object.
• Didymos was not on a collision course with Earth, but the experiment demonstrates the potential for future planetary defense if a hazardous asteroid is detected early.
• NASA is developing the Near-Earth Object (NEO) Surveyor mission, the first telescope built for planetary defense, to detect difficult-to-observe asteroids and comets.
• The Johns Hopkins Applied Physics Laboratory designed, built, and operated DART for NASA’s Planetary Defense Coordination Office.
• The European Space Agency (ESA) plans the Hera Mission (expected 2026) to further study the Didymos–Dimorphos system.
• Over the past studies, the DART impact proved that kinetic impactors can be used to deflect potential Earth-threatening objects.

CURRENT AFFAIRS : OBITUARIES

Veteran Congress Leader and Ex–Union Minister Biren Singh Engti Passed Away at 81

• Biren Singh Engti, veteran leader of the Indian National Congress (INC) and former Union Minister of State (MoS), passed away at the age of 81 in Guwahati, Assam.
• He was born on 2 March 1945 in Karbi Anglong, Assam.
• Engti was a five-time Lok Sabha MP from Diphu constituency, Assam, with electoral victories in 1977, 1984, 2009, and twice in 2014.
• He served as Minister of State (MoS) in the Rajiv Gandhi-led central government, handling portfolios such as the Ministry of Personnel, Public Grievances and Pensions (MoPPG&P) and the Ministry of Planning and Programme Implementation between 1986 and 1989.
• Apart from his parliamentary and ministerial roles, he was the Chief Executive Member (CEM) of the Karbi Anglong Autonomous Council (KAAC).
• Engti’s political career spanned from the 1970s, making him a prominent figure in Assam politics and a key leader from the Karbi Anglong region.
• He was widely recognized for his contributions to both central governance and the development of autonomous regions in India.

Daily CA One- Liner: March 13

• The Cabinet Committee on Economic Affairs, chaired by Narendra Modi, approved the revised total capital cost of ₹3,630.77 crore for the Greenfield connectivity corridor to Noida International Airport
• The Union Cabinet of India chaired by Narendra Modi approved the extension of the Jal Jeevan Mission till December 2028 with an enhanced financial outlay.
• The Chhattisgarh State Cabinet approved the draft Freedom of Religion Bill 2026 aimed at preventing illegal religious conversions in the state
• The Gujarat Government launched the ‘Lake and Air Watch’ initiative to monitor and improve air quality and lake health in urban areas across the state
• India overtook China to become the largest exporter of cotton products to the United States in 2025, according to analysis by the United States Department of Agriculture
• Prime Minister Shri Narendra Modi, inaugurated and laid the foundation stone for multiple development projects worth about ₹5,600 crore in Tiruchirappalli, Tamil Nadu
• The Unique Identification Authority of India (UIDAI) launched its first structured Bug Bounty Program to strengthen the security of the Aadhaar digital ecosystem
• NITI Aayog released the Fiscal Health Index (FHI) 2026, which evaluates the fiscal performance and financial sustainability of Indian states
• New Delhi has deployed India’s first microalgae-based PureAir Tower along the Aerocity highway corridor to address urban air pollution caused by vehicular emissions
• Veteran actor and filmmaker Amol Palekar will be honoured with the META Lifetime Achievement Award 2026 at the Mahindra Excellence in Theatre Awards
• The India women's national field hockey team qualified for the FIH Hockey Women’s World Cup 2026 even before the semifinals of the Women’s Hockey World Cup Qualifiers held in Hyderabad
• Indian para-athlete Shailesh Kumar won a gold medal in the men’s high jump T63 category at the World Para Athletics Grand Prix held in New Delhi
• The Reserve Bank of India (RBI) issued the RBI (Commercial Banks – Prudential Norms on Declaration of Dividend and Remittance of Profits) Directions, 2026 to regulate how commercial banks declare dividends.
• The Securities and Exchange Board of India (SEBI) has set up a high-level expert working group to prepare short-term and long-term technology roadmaps for India’s securities market ecosystem.
• Axis Max Life Insurance Limited has entered into a strategic Corporate Agent partnership with Saarathi Finance and Credit Private Limited to strengthen financial protection for Micro, Small and Medium Enterprises (MSMEs) in India.
• Bank of Baroda (BoB) launched a special savings account for women named ‘bob Women Sapphire Savings Account’ to provide banking, healthcare, and lifestyle benefits for women customers in India.
• South Indian Bank (SIB) has launched a digitally integrated Loan Against Mutual Funds (LAMF) facility to provide secured credit to investors using their mutual fund holdings as collateral.
• PayU, a leading digital payments and financial services provider in India, partnered with GoKwik, a checkout optimization platform for Direct-to-Consumer (D2C) brands.
• Donald Trump, President of the United States, announced the construction of the first new major oil refinery in nearly 50 years with investment from Reliance Industries Limited (RIL) led by Mukesh Ambani.
• RM Nachammai became the first woman to head the operations of a functional nuclear power plant in India under the Nuclear Power Corporation of India Limited (NPCIL).
• Coursera, a global edtech platform, partnered with the Government of India’s Mission Karmayogi to provide advanced upskilling for civil servants and government officials.
• Niti Aayog has strengthened its commitment to positioning India as a global leader in electronics manufacturing through strategic industry partnerships.
• In 2022, The National Aeronautics and Space Administration (NASA) conducted the Double Asteroid Redirection Test (DART) by intentionally crashing a spacecraft into the asteroid moonlet Dimorphos to test asteroid deflection capabilities.
• Biren Singh Engti, veteran leader of the Indian National Congress (INC) and former Union Minister of State (MoS), passed away at the age of 81 in Guwahati, Assam.