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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Relaxes Rules for InvITs and REITs to Enhance Investment Efficiency

• The Securities and Exchange Board of India (SEBI) has amended regulations for Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to improve operational flexibility and investment efficiency.
• InvITs are now allowed to continue holding investments in Special Purpose Vehicles (SPVs) even after the underlying infrastructure project is completed, easing exit-related constraints.
• A clear exit timeline has been introduced, requiring InvITs to exit or acquire SPVs within one year, with regulatory approval delays excluded and enhanced disclosures
• SEBI has allowed privately listed InvITs to invest up to 10% of assets in under-construction or greenfield projects, increasing growth opportunities.
• Broadening investment avenues, SEBI permits InvITs and REITs to deploy surplus funds into a wider set of liquid mutual fund schemes, including those rated AA and above, to mitigate concentration risk.
• Relaxed borrowing norms allow InvITs with leverage between 49–70% of asset value to raise fresh debt for capital expenditure, major maintenance, or refinancing, with the condition that only principal is refinanced.
• REITs and InvITs are SEBI-regulated, mutual fund-like vehicles that pool investor money to invest in income-generating real estate (offices, malls) or infrastructure projects (roads, power lines).
• The amendments aim to resolve practical difficulties arising from pending claims, litigation, tax assessments, or defect liability periods that delay exit from SPVs.

Recent News :

• In March 2026, Securities and Exchange Board of India (SEBI) proposed changes to nomination rules for demat accounts and mutual fund (MF) folios to simplify onboarding, reduce compliance burden, and align with banking norms.

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.

Reserve Bank of India, Insurance Regulatory and Development Authority of India and Securities and Exchange Board of India Strengthen Frameworks to Facilitate Claiming of Unclaimed Financial Assets

• As on February, 2026, the total unclaimed amount transferred by Public Sector Banks (PSBs) to the Depositor Education and Awareness (DEA) Fund of RBI is ₹60,518 crore, while the unclaimed insurance amount with insurers is ₹8,973.89 crore, and the value of unclaimed amounts in mutual funds under SEBI regulations is ₹3,749.34 crore.

Key Highlights :

• The Financial Sector Regulators – Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and Securities and Exchange Board of India (SEBI) have undertaken measures to identify rightful claimants, reduce existing unclaimed assets, prevent fresh accretion, and simplify the claim process for citizens.
• RBI has issued consolidated RBI Responsible Business Conduction Directions, 2025 for settlement of claims for deceased customers of banks.
• An incentive scheme effective from 1.10.2025 provides a payout of 5%–7.5% of the unclaimed deposit amount (subject to a cap) for successful settlement of claims.
• Banks are advised to conduct periodic drives to trace depositors, nominees, or legal heirs, publish lists of unclaimed deposits, and run awareness campaigns.
• The Banking Laws (Amendment) Act, 2025 allows multiple nominations in bank accounts, including successive and simultaneous nominations up to four.
• The Indian Banks’ Association (IBA) has introduced a Common Application Form and SOP for settlement of unclaimed deposits through a dedicated portal of banks.
• IRDAI mandates collection of proposer and nominee details at the proposal stage and advises insurers to regularly contact customers, trace rightful recipients, and ensure efficient disbursement.
• IRDAI provides SOPs, FAQs, and awareness videos on its official website for citizen guidance.
• SEBI has simplified mutual fund transmission procedures, promoted nomination, allowed simplified documentation for claims up to ₹5 lakh, and provided detailed guidelines and forms on the Association of Mutual Funds in India (AMFI)
• SEBI’s Master Circular on Mutual Funds (27.6.2024) requires AMCs to implement image-based processing for nominee/joint holder claims, and to maintain a dedicated help desk and webpage to assist investors.
• The Department of Financial Services conducted the “आपकी पँजूी, आपका अधिकार – Your Money, Your Right” campaign during October–December 2025, in coordination with RBI, SEBI, and IRDAI.
• During the campaign, special camps in 748 districts resulted in ₹5,777 crore being restituted to 22.95 lakh rightful claimants as on 28.2.2026.
• Under the DEA Fund Scheme, 2014, banks must transfer credit balances in accounts inactive for 10 years or more to the DEA Fund, which forms part of Contingent Liability of the banks.
• RBI developed the UDGAM portal (Unclaimed Deposits – Gateway to Access InforMation), which allows users to search unclaimed deposits/accounts across multiple banks, with 18.86 lakh registered users as on 1.3.2026.
• IRDAI’s Bima Bharosa portal and SEBI’s MITRA platform have been developed for tracing unclaimed insurance proceeds and mutual fund amounts, respectively.
• RBI has constituted an Inter-Regulatory Working Group to develop a single integrated web portal for citizens to search and claim unclaimed financial assets.

About IRDAI:

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

Securities and Exchange Board of India Lowers Minimum Investment in Social Impact Funds to ₹1,000 and Relaxes Rules for NPOs on Social Stock Exchanges

• The Securities and Exchange Board of India (SEBI) has reduced the minimum investment threshold in Social Impact Funds (SIFs) from ₹2 lakh to ₹1,000, making them accessible to retail investors.
• SIFs are a subcategory of Alternative Investment Funds (AIFs) that channel investments into social enterprises and impact-driven projects.
• The move aligns SIF investment norms with Zero Coupon Zero Principal (ZCZP) instruments listed on Social Stock Exchanges (SSEs).
• SEBI has approved an extension of registration validity for NPOs on the SSE from two years to three years without the requirement to raise funds during this period.
• The extension for NPOs is subject to approval by the social stock exchanges.
• SEBI has relaxed the minimum subscription requirement for ZCZP issuances, reducing the threshold from 75% to 50% where project costs and outcomes can be implemented on a per-unit basis.
• The reforms aim to broaden investor participation and facilitate smoother fundraising for social enterprises in India.
• By lowering the entry barrier, SEBI seeks to attract retail and small investors into the social impact investment space, improving capital flows to the sector.
• The relaxation in subscription requirements ensures projects can proceed with partial funding, subject to due diligence by SSEs to ensure effective deployment of funds.
• These reforms follow recommendations from the Social Stock Exchange Advisory Committee and are expected to enhance fundraising efficiency, improve accessibility, and support the growth of social enterprises in India.

Reserve Bank of India and National Bank for Agriculture and Rural Development Enhance Oversight and Governance Framework for Cooperative Banks

• The regulatory and supervisory framework of Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) ensures that cooperative banks operate with financial transparency.
• The Banking Regulation Act has been amended to limit the term of Board of Directors of cooperative banks (excluding Chairperson and Whole-time directors) to a maximum of 10 consecutive years.
• The Multi-State Cooperative Societies (MSCS) Act, 2002 was amended to include the appointment of a Cooperative Ombudsman to address complaints or appeals from members regarding deposits, equitable benefits, or individual rights.
• A Cooperative Election Authority has been established to strengthen governance and accountability by conducting free and fair elections in all Multi-State Cooperative Societies.
• RBI issued the Master Direction on Fraud Management for Cooperative Banks in 2024, providing guidelines on fraud reporting, principles of natural justice, governance, early warning mechanisms, staff accountability, third-party responsibility, and the role of auditors.
• RBI’s Prompt Corrective Action (PCA) Framework mandates identified cooperative banks to implement remedial measures timely to restore financial health and protect depositors’ interests.
• NABARD’s Turn Around Plan (TAP) aims to improve financial performance and reduce losses in State Cooperative Banks (StCBs) and District Central Cooperative Banks (DCCBs) through financial monitoring, business diversification, governance, cost rationalization, HR development, technology adoption, and financial inclusion.
• RBI provides Deposit Insurance through DICGC, covering all types of deposits (principal & interest) up to ₹5,00,000 per depositor in cooperative banks.
• RBI has issued guidelines for Risk Based Internal Audit (RBIA) systems in Urban Cooperative Banks to strengthen internal controls and risk management.

Recent News :

• National Bank for Agriculture and Rural Development (NABARD) launched the “National Climate Stack Innovation Challenge” in collaboration with Gates Foundation and Dalberg Advisors to strengthen climate intelligence and resilience in rural India.

About NABARD:

• It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India.
• Headquarters: Mumbai, Maharashtra
• Founded: July 12, 1982 by the Government of India
• Chairman: Shaji K V

Reserve Bank of India Announces Schedule of Monetary Policy Committee Meetings for FY 2026-2027

• The Reserve Bank of India (RBI) announced the Monetary Policy Committee (MPC) meeting schedule for FY 2026-2027, with the first meeting on April 6-8, 2026, and the final meeting on February 3-5, 2027.
• The second MPC meeting will be held on June 3-5, 2026, the third on August 3-5, 2026, and the fourth on October 5-7, 2026.
• The RBI Act, 1934, was amended by the Finance Act, 2016, providing a statutory framework for the MPC.
• Under Section 45ZB, the Central Government constitutes a six-member MPC, responsible for fixing the benchmark policy rate (repo rate) to contain inflation within the specified target.
• Current MPC members include: Governor of RBI – Sanjay Malhotra (Chairperson, ex officio), Deputy Governor – Poonam Gupta, Executive Director – Indranil Bhattacharyya, Ram Singh, Saugata Bhattacharya, and Nagesh Kumar, with a term of four years.
• The MPC is required to meet at least four times a year, with a quorum of four members, and each member has one vote, while the Governor has a casting vote in case of equality.
• Key instruments of monetary policy include:
• Repo Rate (5.25%) – rate at which RBI provides liquidity under Liquidity Adjustment Facility (LAF) against approved securities.
• Standing Deposit Facility (SDF) Rate (5.00%) – rate at which RBI accepts uncollateralised deposits overnight, 25 bps below repo rate.
• Marginal Standing Facility (MSF) Rate (5.50%) – penal rate for banks to borrow overnight funds from RBI against government securities, 25 bps above repo rate.
• Liquidity Adjustment Facility (LAF) Rate (5.25%) – tool to inject or absorb liquidity into the banking system.
• Reverse Repo Rate – rate at which RBI absorbs liquidity from banks against eligible government securities.
• Bank Rate (5.50%) – also known as the discount rate, used by commercial banks for borrowing from RBI.
• Cash Reserve Ratio (CRR) (3.00%) – mandatory daily balance maintained with RBI as a % of Net Demand and Time Liabilities (NDTL).
• Statutory Liquidity Ratio (SLR) (18.00%) – mandatory reserve requirement maintained by banks in liquid assets like cash, gold, or approved government securities before offering credit.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Chandigarh University Uttar Pradesh Launches Centre of Excellence in Smart Healthcare

• Chandigarh University, Uttar Pradesh, India’s first private Artificial Intelligence-augmented multidisciplinary university, launched a Centre of Excellence in Smart Healthcare.
• The initiative aims to strengthen the state’s vision of Artificial Intelligence-driven healthcare and governance.
• The Centre of Excellence is headed by Thipendra P. Singh, Professor of Artificial Intelligence and Pro Vice Chancellor.
• The initiative is supported by Aseem Arun, Minister of State (Independent Charge), Department of Social Welfare, Uttar Pradesh.
• The infrastructure is powered by advanced Graphics Processing Unit systems with 168 Gigabyte memory, based on NVIDIA Blackwell architecture, enabling high-end research and Artificial Intelligence model development.
• The Centre of Excellence will function as a testbed for smart city healthcare solutions, support five Artificial Intelligence startups over the next two years, and facilitate hospital-based validation of technologies.
• It will also strengthen Uttar Pradesh’s healthcare ecosystem through Artificial Intelligence-driven integration.
• The university also launched the Artificial Intelligence Ethics Training Programme in collaboration with upGrad.
• The programme aims to train 1.50 lakh youth over the next five years.

RECENT NEWS

• The World Bank and the Government of India and the state Government of Uttar Pradesh have signed a agreement to improve air quality across the state. This initiative is known as the Uttar Pradesh Clean Air Management Program. 

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kaimoor Wildlife Sanctuary, Nawabganj Bird Sanctuary (Shahid Chandra Shekhar Azad Bird Sanctuary), Hastinapur Wildlife Sanctuary, Sur Sarovar Bird Sanctuary, Chandraprabha Wildlife Sanctuary, Mahavir Swami Wildlife Sanctuary, Ranipur Wildlife

Central Electricity Authority Releases National Generation Adequacy Plan 2026–27 to 2035–36

• The Central Electricity Authority under the Ministry of Power released the midterm review of the 20th Electric Power Survey titled “National Generation Adequacy Plan (2026–27 to 2035–36)”.
• The report was released during the Bharat Electricity Summit 2026 held at Yashobhoomi, New Delhi.
• India’s installed power generation capacity is projected to increase from around 520 Gigawatt (as of 31 January 2026) to 1,121 Gigawatt by 2035–36.
• India’s peak electricity demand is expected to reach 459 Gigawatt by 2035–36, registering a Compound Annual Growth Rate of 5.58 percent between Financial Year 2024–25 and Financial Year 2035–36.
• The total electricity requirement is projected to increase to 3,365 billion units with a Compound Annual Growth Rate of 6.41 percent during the same period.
• Gross electricity generation is expected to rise to 3,596 billion units by 2035–36.
• Net electricity generation is projected to nearly double from 1,725 billion units to around 3,450 billion units by 2035–36.
• Solar Photovoltaic capacity is expected to lead the energy mix with 509 Gigawatt capacity (45 percent share) by 2035–36.
• Coal-based capacity is projected to reach 315 Gigawatt (28 percent share).
• Wind power capacity is expected to reach 155 Gigawatt (14 percent share).
• Hydropower capacity is projected to reach 77 Gigawatt (7 percent share).
• Other projected capacities include:
• Nuclear power: 22 Gigawatt
• Gas-based power: 20 Gigawatt
• Biomass-based power: 16 Gigawatt
• Small hydro power: 6 Gigawatt
• Non-fossil fuel-based installed capacity is expected to reach 786 Gigawatt, accounting for around 70 percent of total installed capacity by 2035–36.
• The share of non-fossil fuel sources in electricity generation is projected to increase to nearly 49 percent by 2035–36.

RECENT NEWS

• The Finance Ministry has notified the issuance of Zero Coupon Bonds (ZCBs) by Power Finance Corporation (PFC). The company has been authorized to raise up to ₹10,000 crore through these bonds, which will be issued at a discount and redeemed at full face value upon maturity.

Department of Telecommunications Launches 5G Innovation Hackathon 2026 under 100 5G Use Case Laboratories Programme

• The Department of Telecommunications under the Ministry of Communications launched the 5G Innovation Hackathon 2026, the second edition of its flagship initiative under the 100 5G Use Case Laboratories Programme.
• The hackathon aims to promote indigenous and scalable solutions using 5G (Fifth Generation), Artificial Intelligence and Internet of Things technologies.
• The competition is open to students, start-ups, Micro, Small and Medium Enterprises and independent innovators across India.
• The hackathon is being conducted from 20 March 2026 to 17 April 2026, with final results to be announced on 1 October 2026.
• Applications are submitted through the official portal via nodal 5G laboratories and evaluated through multiple stages including institutional screening, regional assessment, national-level presentations, prototype development and final demonstrations.
• Selected participants will receive seed funding support of ₹50 lakh, along with financial assistance and access to 100 5G Use Case Laboratories for testing, validation and refinement of innovations.
• The hackathon offers a total prize pool exceeding ₹10 lakh, including:
• ₹5 lakh for First Prize
• ₹3 lakh for Second Prize
• ₹1.5 lakh for Third Prize
• ₹50,000 for Best Idea Award
• Intellectual Property Rights support will be provided to up to 25 teams to assist with innovation protection and commercialisation.
• The first edition of the 5G Innovation Hackathon was launched in March 2025, and winners were announced in October 2025 at the India Mobile Congress.
• The hackathon focuses on solutions across sectors such as healthcare, agriculture, education, industrial automation and disaster management.
• It also covers advanced telecom domains including Non-Terrestrial Networks, Fixed Wireless Access, network slicing and telecom security.
• Winning innovations from the 5G Innovation Hackathon 2026 will be showcased at the India Mobile Congress 2026.

National Biodiversity Authority Constitutes Expert Committee on Invasive Alien Species

• The National Biodiversity Authority, a statutory body under the Ministry of Environment, Forest and Climate Change, constituted a multi-disciplinary Expert Committee on Invasive Alien Species under the Biological Diversity Act, 2002 (amended in 2023).
• The committee has been formed to address rising ecological and socio-economic threats to biodiversity and food security in India caused by Invasive Alien Species.
• The decision followed proceedings by the National Green Tribunal, which highlighted the serious threats posed by Invasive Alien Species to biodiversity, ecosystems, agriculture, food security and public health.
• The initiative was also supported by an advisory from the Ministry of Environment, Forest and Climate Change.
• Dhananjai Mohan has been appointed as the Chairperson of the Expert Committee.
• A. Biju Kumar will serve as the Co-Chairperson of the Committee.
• The committee will function for a tenure of two years.
• The committee has been mandated to prepare a consolidated national list of Invasive Alien Species based on inputs from State Forest Departments.
• It will prioritise high-risk species and recommend science-based strategies for prevention, control, eradication and ecological restoration related to Invasive Alien Species in India.

About NBA

• The National Biodiversity Authority is a statutory autonomous body under the Ministry of Environment, Forests and Climate Change, Government of India established in 2003 to implement the provisions under the Biological Diversity Act, 2002, after India signed Convention on Biological Diversity in 1992.

CURRENT AFFAIRS: AWARDS AND HONOURS

Kaveh Madani Named Stockholm Water Prize 2026 Laureate; N. Chandrasekaran Conferred Honorary Knight Commander of the Order of the British Empire

• Kaveh Madani, Director of the United Nations University Institute for Water, Environment and Health, was named the Stockholm Water Prize 2026 Laureate.
• The announcement was made during the World Water Day (22 March 2026) event held at the UNESCO Headquarters in Paris, France.
• At 44 years of age, he became the youngest recipient in the 35-year history of the Stockholm Water Prize.
• He is also the first United Nations official and the first former politician to receive the award.
• In March 2026, Natarajan Chandrasekaran, Chairman of Tata Sons, was conferred the Honorary Knight Commander of the Most Excellent Order of the British Empire by the United Kingdom government.
• The honour was awarded for his contribution to strengthening India–United Kingdom business relations.
• The award was presented by Lindy Cameron at the British High Commissioner’s residence in New Delhi on behalf of Charles III.
• The Honorary Knight Commander of the Most Excellent Order of the British Empire (Civil Division) is awarded to foreign nationals for distinguished contributions in business, public life, culture and international relations.
• Non-United Kingdom citizens receiving the honour cannot use the title “Sir”, but may add the suffix “KBE” after their name.
• Previous Indian recipients of the honour include:
• Jamshed Irani (1997)
• Ravi Shankar (2001)
• Ratan Tata (2009; later elevated to GBE in 2014)
• Lakshmi Niwas Mittal (2015)
• Sunil Bharti Mittal (2025)

Bhupathiraju Anmish Varma Sets Guinness World Record for Fastest Climb of Seven Volcanic Summits

• Bhupathiraju Anmish Varma, a native of Visakhapatnam, Andhra Pradesh, created history by setting a Guinness World Records record for the fastest time to climb the Seven Volcanic Summits (male category).
• He completed the challenge in 92 days, 4 hours and 45 minutes, setting a new global benchmark.
• He began the expedition from Mount Elbrus (Europe) on 23 October 2024 and completed the journey at Mount Sidley (Antarctica) on 23 January 2025.
• The record was officially recognised on 6 February 2026, and he received the certificate in New Delhi on 17 March 2026.
• The Seven Volcanic Summits climbed during the expedition include:
• Mount Elbrus (Europe)
• Mount Kilimanjaro (Africa)
• Mount Damavand (Asia)
• Pico de Orizaba (North America)
• Ojos del Salado (South America)
• Mount Giluwe (Oceania)
• Mount Sidley (Antarctica)

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Italy Hold 9th Round of Foreign Office Consultations in New Delhi

• India and Italy held the 9th round of Foreign Office Consultations in New Delhi to review their bilateral strategic partnership and discuss regional and global issues of mutual interest.
• The consultations were led by Sibi George, Secretary (West), Ministry of External Affairs, and Nicoletta Bombardiere, Director General, Ministry of Foreign Affairs and International Cooperation.
• Both sides reviewed progress under the Joint Strategic Action Plan 2025–2029, which covers cooperation in trade, technology, space, defence, security, renewable energy, education, research, innovation, culture and people-to-people exchanges.
• The two countries agreed to expedite the Joint Initiative to Counter Financing of Terrorism to strengthen cooperation in counter-terrorism efforts.
• They also agreed to hold the first Maritime Security Dialogue to enhance cooperation in the maritime security domain.
• Both sides discussed regional and global developments, including issues related to the Indo-Pacific region and West Asia.
• India–Italy relations are witnessing an upward trajectory with expanding strategic partnership and regular institutional engagements.
• Both countries agreed to hold the 10th round of Foreign Office Consultations in Italy.

About Italy:

• Capital: Rome
• President: Sergio Mattarella
• Currency: Euro

CURRENT AFFAIRS: RANKING AND REPORTS

World Trade Organization Releases Global Trade Outlook and Statistics Report March 2026

• The World Trade Organization released its Global Trade Outlook and Statistics – March 2026 report, projecting a sharp slowdown in global merchandise trade growth.
• Global merchandise trade growth is projected to decline to 1.9 percent in 2026, compared to 4.6 percent in 2025.
• The slowdown is attributed to geopolitical tensions in West Asia, normalisation of Artificial Intelligence-related demand, and the impact of earlier tariff-driven front-loading of shipments.
• Global merchandise trade growth is expected to recover to 2.6 percent in 2027.
• Combined global trade in goods and services is projected to grow by 2.7 percent in 2026, compared to 4.7 percent in 2025.
• Commercial services trade growth is expected to moderate to 4.8 percent in 2026, down from 5.3 percent in 2025.
• Commercial services trade growth is projected to increase to 5.1 percent in 2027.
• Global Gross Domestic Product growth is forecast to moderate slightly from 2.9 percent in 2025 to 2.8 percent in both 2026 and 2027.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Kotak Mahindra Capital to Sell 30.99% Stake in Infina Finance for ₹1,293.91 Crore

• Kotak Mahindra Capital Company Limited (KMCC), a wholly-owned subsidiary of Kotak Mahindra Bank Limited (KMBL), has entered into agreements to divest 30.99% stake in Infina Finance Private Limited.
• The total value of the divestment deal is ₹1,293.91 crore.
• The transactions are expected to be completed by March 31, 2026, subject to customary conditions.
• KMCC will transfer 9.90% stake (2,17,899 shares) to Derive Trading and Resorts Pvt Ltd and Bright Star Investments Pvt Ltd for ₹413.35 crore.
• It will transfer 12.10% stake (2,66,321 shares) to the estates of Rakesh Jhunjhunwala (through trusts) for ₹505.20 crore.
• Additionally, 8.99% stake will be transferred to KF Trust (existing shareholder) for ₹375.35 crore.
• After the transaction, KMCC’s shareholding in Infina will reduce from 49.99% to 19%.
• Consequently, Infina will cease to be an associate company of Kotak Mahindra Bank.
• Infina Finance Private Limited, established in 1996, is a Non-Banking Financial Company (NBFC).
• It offers financial products such as loans against securities and commercial real estate finance.

CURRENT AFFAIRS : DEFENCE NEWS

INS Nilgiri of Indian Navy Takes Part in Exercise Kakadu 2026 in Australia

• The Indian Navy (IN) frigate INS Nilgiri participated in the sea phase of Exercise Kakadu 2026 in Australia as part of its deployment to the Western Pacific.
• The deployment aimed at enhancing maritime cooperation in the Indo-Pacific region.

Key Highlights :

• The 17th edition of Exercise Kakadu 2026 witnessed participation from over 19 nations and 6,000 personnel, covering the area from Jervis Bay to Darwin, Australia.
• A Kakadu Fleet Review was held in Sydney Harbour, New South Wales on 21st March 2026, marking the largest gathering of foreign warships in over a decade and commemorating the 125th anniversary of the Royal Australian Navy (RAN).
• INS Nilgiri took part in coordinated naval manoeuvres off northern Australia, alongside warships from Malaysia, Philippines, and Thailand.
• The crew of INS Nilgiri won the Kakadu Shield Trophy during sporting events held in the harbour phase at Darwin, Australia.
• The Indian Navy described Exercise Kakadu 2026 as an effort to enhance interoperability, cooperation, and maritime understanding among the participating navies.
• Exercise Kakadu is a multilateral maritime exercise hosted by Australia, bringing together navies from across the Indo-Pacific region.
• The Indian Navy is preparing to commission its latest stealth frigate, Taragiri (F41) on April 3, 2026, with Defence Minister Rajnath Singh presiding over the commissioning ceremony.
• The commissioning of Taragiri symbolizes India’s progress towards becoming a fully self-reliant naval power.
• Taragiri is the fourth warship in the Project 17A class and weighs 6,670 tonnes.
• The vessel represents the ‘Make in India’ initiative and highlights the advanced engineering capabilities of indigenous shipyards.
• Constructed by Mazagon Dock Shipbuilders Limited, Mumbai, under Project 17A, Taragiri features advanced stealth technology and modern combat systems.
• Taragiri boasts over 75 percent indigenous content, reflecting India’s drive for self-sufficiency in defence manufacturing.
• The warship is equipped with surface-to-surface and surface-to-air missile systems, as well as anti-submarine warfare capabilities.
• Taragiri is designed for multi-role missions, including combat and humanitarian operations.
• The Indian Navy continues to expand as a combat-ready, cohesive, credible, and self-reliant force, protecting maritime interests for a developed and prosperous India.
• All ships in the Indian Navy are designed, built, and operated by Indians, demonstrating India’s self-reliance in naval defence.

CURRENT AFFAIRS : SUMMITS & CONFERENCES

United Nations to Host Inaugural High Seas Summit in New York in January 2027

• The United Nations (UN) will host the first-ever High Seas Summit in January 2027 at its headquarters in New York.
• The summit is based on the High Seas Treaty (Biodiversity Beyond National Jurisdiction – BBNJ) adopted in June 2023, aimed at protecting marine biodiversity in international waters beyond national jurisdictions.
• The BBNJ treaty has been ratified by around 60 countries, enabling it to come into force and paving the way for global governance of the high seas.
• The High Seas Summit (Conference of Parties – COP) is proposed from January 11 to 22, 2027, focusing on implementation mechanisms and institutional setup.
• The treaty addresses major challenges such as climate change, marine pollution, and overfishing, which threaten ocean ecosystems.

CURRENT AFFAIRS : APPS & PORTALS

Ministry of Rural Development Unveils Real-Time Internal Audit Portal to Enhance Governance and Accountability

• The Ministry of Rural Development (MoRD) announced the operationalization of a comprehensive Internal Audit Portal to shift audit processes from manual tracking to a real-time, centralized digital ecosystem.
• The portal was developed by the National Informatics Centre (NIC) and officially reviewed in the presence of Shri Shailesh Kumar Singh, Secretary, MoRD, along with Shri Akhilesh Jha, Chief Controller of Accounts (CCA), and various Joint Secretaries.
• The portal allows Secretary-level access for direct, top-down oversight of audit health across all departments, enabling evidence-based decision-making.
• Shri Shailesh Kumar Singh stated that the portal will strengthen oversight and ensure timely action on audit findings, making governance efficient and impactful for rural sectors.
• The portal, available at https://ruralaudit.dord.gov.in, provides a Real-Time Dashboard showing audit status, Action Taken Reports (ATRs), and pending compliance.
• An Escalation Mechanism with automated triggers addresses delays in compliance, reinforcing responsibility at every administrative tier.
• The portal features Role-Based Access, ensuring secure, need-based access controls while enabling cross-departmental coordination.
• It offers Seamless Coordination, tracking audit observations from the field to headquarters.
• The portal is expected to reduce the compliance gap by improving the speed of resolving audit observations.
• The digital framework strengthens institutional governance, accountability frameworks, and enables continuous 365-day monitoring of compliance.
• The system supports informed decision-making through advanced data analytics.
• This launch aligns with the Digital India vision, ensuring that funds allocated for rural development are monitored with high standards of fiscal discipline and transparency.

About Ministry of Rural Development :

• Cabinet Minister : Shivraj Singh Chouhan
• Minister of State : Chandra Sekhar Pemmasani, Kamlesh Paswan

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India Sets Up Pilot Plant for Nd-Fe-B Rare Earth Permanent Magnets at ARCI, Hyderabad

• The Government of India (GoI) established a pilot plant for manufacturing Neodymium-Iron-Boron (Nd-Fe-B) rare earth permanent magnets at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), Hyderabad, under the Department of Science and Technology (DST), Ministry of Science & Technology (MoS&T).
• The pilot plant was formally inaugurated by Prof. Abhay Karandikar, Secretary of DST, along with Dr. R. Vijay, Director of ARCI, in the presence of Prof. Ashutosh Sharma, Former Secretary DST and Chairman, Governing Council, ARCI.
• Other dignitaries present included Dr. S. K. Jha, Former CMD, MIDHANI, and Dr. Shivkumar Kalyanaraman, CEO, Anusandhan National Research Foundation (ANRF), with participation from industries, national institutes, and other stakeholders.
• The facility adopts an end-to-end manufacturing approach, covering the process from strip-cast alloy production to finished sintered magnets, enabling a robust and self-reliant manufacturing ecosystem.
• The pilot plant is a significant step towards achieving self-reliance in critical materials and strengthening India’s position in the global rare earth value chain.
• Nd-Fe-B magnets are essential components in electric vehicles (EVs), renewable energy (RE) systems, electronics, and advanced manufacturing technologies.
• The pilot-scale plant serves as a critical platform for technology validation, process optimization, industry collaboration, and demonstration.
• It helps in scaling up indigenous innovations to commercial manufacturing and supports deep-tech startups and private sector participation.
• The initiative promotes indigenous manufacturing, reduces import dependence, and enhances India’s global competitiveness in the rare earth and critical materials sector.

Elon Musk Unveils Terafab, Set to Become the Largest Semiconductor Factory Globally

• Elon Musk has launched the “Terafab” project to manufacture in-house AI chips for robotics, artificial intelligence, and space technologies.
• The project will be set up in Austin, Texas, and will be jointly operated by Tesla and SpaceX, with involvement from xAI.
• Terafab will begin with an advanced technology fabrication unit, marking Musk’s entry into semiconductor manufacturing.
• The facility is expected to support 100–200 GW of computing power annually, indicating a massive scale for AI and high-performance computing.
• The project aims to produce 2-nanometre chips, placing it at the cutting edge of global semiconductor technology.
• The joint venture between Tesla, SpaceX, and xAI was announced as “the next step towards becoming a galactic civilization”, with a projected cost of $20–25 billion.
• Terafab will be located next to Tesla's Giga Texas in Austin and will enable chip production, testing, and iterative improvement in a single building, a process Musk claims does not exist anywhere else.
• The ultimate goal is for Terafab to produce 1 million chip wafers per month using 2-nanometer process technology.
• For comparison, the largest semiconductor company globally, TSMC, plans to produce 140,000 2-nanometer chip wafers per month by end of 2026.
• Terafab is expected to produce 100–200 billion AI and memory chips per year, mostly for Tesla’s cars and robots.

Bharat Electricity Summit 2026 Held in New Delhi, Indian Carbon Market Portal Launched

• The first edition of Bharat Electricity Summit (BES 2026) was held from March 19–22, 2026 at Yashobhoomi, Dwarka, New Delhi.
• The Summit brought together global stakeholders to strengthen India’s energy transition and power sector reforms.
• The Summit was inaugurated by Union Minister Manohar Lal, Ministry of Power (MoP) at Yashobhoomi, New Delhi.
• The theme of the four-day Summit was “Electrifying Growth. Empowering Sustainability. Connecting Globally”.
• BES 2026 was organised by the Bureau of Energy Efficiency (BEE) under the Ministry of Power (MoP), aligning India’s energy sector with the vision of Viksit Bharat 2047.
• During the Summit, the Indian Carbon Market Portal (www.indiancarbonmarket.gov.in), a central platform for implementing and administering the carbon market, was launched.
• The Summit facilitated several high-level bilateral meetings with countries such as Malawi, Tajikistan, Mauritius, Kyrgyzstan, and Russia, along with key industry stakeholders.
• The next edition of Bharat Electricity Summit (BES 2028) will be held in 2028 at Gandhinagar, Gujarat.

CURRENT AFFAIRS : OBITUARIES

Veteran BJP Leader and Former Member of Parliament Datta Meghe Passes Away at 89 in Maharashtra

• Datta Meghe, a veteran Bharatiya Janata Party (BJP) leader and former Member of Parliament (MP), passed away at the age of 89 in Maharashtra.
• He was born on November 11, 1936, in Pawnar village, Wardha district, Maharashtra.
• His political career spanned over five decades across multiple legislative bodies.
• He was first elected as Maharashtra Legislative Council (MLC) member in 1978 and served three consecutive terms till 1991.
• He was a four-time Lok Sabha MP from Nagpur, Ramtek, and Wardha
• He also served as a Rajya Sabha (RS) member from 2002 to 2008.
• Initially associated with the Indian National Congress, he later joined the Nationalist Congress Party (NCP) led by Sharad Pawar in 1999.
• He served as a state minister during his tenure in Maharashtra politics.
• He joined the Bharatiya Janata Party (BJP) in 2014.
• He was the father of Sameer Meghe (MLA, Hingna) and Sagar Meghe (former MLC).

CURRENT AFFAIRS: BOOKS AND AUTHOR

‘Karuna: The Power of Compassion’ Book by Kailash Satyarthi Launched in March 2026

• Kailash Satyarthi, Nobel Peace Prize 2014 laureate, released his latest book Karuna: The Power of Compassion in March 2026.
• The book was formally launched by the Satyarthi Movement for Global Compassion in association with HarperCollins India.
• The book was unveiled in the presence of Surya Kant, Chief Justice of India, and Kiran Bedi, former Lieutenant Governor of Puducherry.
• Earlier, the book was scheduled to be released during the Jaipur Literature Festival 2026 held in Jaipur, Rajasthan in January 2026.
• The book highlights compassion as a transformative and active force to address global challenges such as inequality and conflict.
• It introduces the concept of Compassion Quotient, a scientific approach to measure and enhance compassion among individuals and organisations.
• Kailash Satyarthi was awarded the Nobel Peace Prize 2014 jointly with Malala Yousafzai for their struggle against the suppression of children and young people and for ensuring the right of all children to education.

CURRENT AFFAIRS: IMPORTANT DAYS

United Nations French Language Day Observed on 20 March

• United Nations French Language Day is observed annually on 20 March across the globe.
• The day aims to promote multilingualism, cultural diversity, and equal recognition of the six official languages of the United Nations.
• The date commemorates the establishment of the Agency for Cultural and Technical Cooperation (ACCT) on 20 March 1970 in Niamey, Niger.
• The ACCT later became the Intergovernmental Agency of La Francophonie in 1998 and was renamed the Organisation Internationale de la Francophonie in 2005.
• French Language Day is part of the United Nations Language Days, under which the United Nations observes six language days annually, each dedicated to one of its official languages:
• Arabic Language Day – 8 December
• Chinese Language Day – 20 April
• English Language Day – 23 April
• Russian Language Day – 6 June
• Spanish Language Day – 23 April
• French Language Day – 20 March

International Day of the Unborn Child Observed on 25 March 2026

• The International Day of the Unborn Child is observed annually on 25 March across the world.
• The day commemorates unborn children and promotes respect for human dignity before birth.
• It is observed as a day expressing opposition to abortion and remembering the lives lost due to abortion.
• The observance was established during the tenure of John Paul II.
• The date 25 March coincides with the Feast of the Annunciation, an important event in Christian tradition.
• The day was intended to promote a culture of life and respect for human dignity in all situations.
• El Salvador was the first country to recognize a Day of the Right to Be Born in 1993.
• Argentina declared the Day of the Unborn in 1998.
• Chile declared the Day of the Conceived and Unborn in 1999, and later began commemorating the Day of the Unborn Child and Adoption in 2013.
• Guatemala declared the National Day of the Unborn, and Costa Rica declared the National Day of Life Before Birth in 2000.
• Other countries that began commemorating the Day of the Unborn Child between 2000 and 2003 include:
  Nicaragua, Dominican Republic, Peru, Paraguay, Philippines, Honduras, Ecuador, and Puerto Rico.
• The Knights of Columbus has supported the global promotion of the International Day of the Unborn Child.

Daily CA One- Liner: March 25

• Chandigarh University, Uttar Pradesh, India’s first private Artificial Intelligence-augmented multidisciplinary university, launched a Centre of Excellence in Smart Healthcare
• The Central Electricity Authority under the Ministry of Power released the midterm review of the 20th Electric Power Survey titled “National Generation Adequacy Plan
• The Department of Telecommunications under the Ministry of Communications launched the 5G Innovation Hackathon 2026, the second edition of its flagship initiative under the 100 5G Use Case Laboratories Programme
• The National Biodiversity Authority, a statutory body under the Ministry of Environment, Forest and Climate Change, constituted a multi-disciplinary Expert Committee on Invasive Alien Species under the Biological Diversity Act, 2002
• Kaveh Madani, Director of the United Nations University Institute for Water, Environment and Health, was named the Stockholm Water Prize 2026 Laureate
• Bhupathiraju Anmish Varma, a native of Visakhapatnam, Andhra Pradesh, created history by setting a Guinness World Records record for the fastest time to climb the Seven Volcanic Summits
• India and Italy held the 9th round of Foreign Office Consultations in New Delhi to review their bilateral strategic partnership and discuss regional and global issues of mutual interest
• The World Trade Organization released its Global Trade Outlook and Statistics – March 2026 report, projecting a sharp slowdown in global merchandise trade growth
• Kailash Satyarthi, Nobel Peace Prize 2014 laureate, released his latest book Karuna: The Power of Compassion in March 2026
• United Nations French Language Day is observed annually on 20 March across the globe
• The International Day of the Unborn Child is observed annually on 25 March across the world
• The Securities and Exchange Board of India (SEBI) has amended regulations for Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to improve operational flexibility and investment efficiency.
• As on February, 2026, the total unclaimed amount transferred by Public Sector Banks (PSBs) to the Depositor Education and Awareness (DEA) Fund of RBI is ₹60,518 crore, while the unclaimed insurance amount with insurers is ₹8,973.89 crore, and the value of unclaimed amounts in mutual funds under SEBI regulations is ₹3,749.34 crore.
• The Securities and Exchange Board of India (SEBI) has reduced the minimum investment threshold in Social Impact Funds (SIFs) from ₹2 lakh to ₹1,000, making them accessible to retail investors.
• The regulatory and supervisory framework of Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) ensures that cooperative banks operate with financial transparency.
• The Reserve Bank of India (RBI) announced the Monetary Policy Committee (MPC) meeting schedule for FY 2026-2027, with the first meeting on April 6-8, 2026, and the final meeting on February 3-5, 2027.
• Kotak Mahindra Capital Company Limited (KMCC), a wholly-owned subsidiary of Kotak Mahindra Bank Limited (KMBL), has entered into agreements to divest 30.99% stake in Infina Finance Private Limited.
• The Indian Navy (IN) frigate INS Nilgiri participated in the sea phase of Exercise Kakadu 2026 in Australia as part of its deployment to the Western Pacific.
• The United Nations (UN) will host the first-ever High Seas Summit in January 2027 at its headquarters in New York.
• The Ministry of Rural Development (MoRD) announced the operationalization of a comprehensive Internal Audit Portal to shift audit processes from manual tracking to a real-time, centralized digital ecosystem.
• The Government of India (GoI) established a pilot plant for manufacturing Neodymium-Iron-Boron (Nd-Fe-B) rare earth permanent magnets at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), Hyderabad, under the Department of Science and Technology (DST), Ministry of Science & Technology (MoS&T).
• Elon Musk has launched the “Terafab” project to manufacture in-house AI chips for robotics, artificial intelligence, and space technologies.
• The first edition of Bharat Electricity Summit (BES 2026) was held from March 19–22, 2026 at Yashobhoomi, Dwarka, New Delhi.
• Datta Meghe, a veteran Bharatiya Janata Party (BJP) leader and former Member of Parliament (MP), passed away at the age of 89 in Maharashtra.