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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Proposes Gift Cards and Prepaid Payment Instruments for Mutual Fund Investments to Enhance Financial Inclusion

• The Securities and Exchange Board of India (SEBI) has proposed allowing gift cards / prepaid payment instruments (PPIs) for investing in mutual funds to boost financial inclusion.

Key Highlights :

• Under the proposal, individuals can purchase gift PPIs and transfer them to recipients, who can then use them to invest in mutual fund units.
• Each gift PPI will have a validity of one year from the date of issuance, ensuring timely utilisation.
• Funding of PPIs will be allowed only via electronic bank transfer or UPI from an Indian bank account, reducing misuse and enhancing traceability.
• A cap has been proposed where total investments through gift PPIs cannot exceed ₹50,000 per investor annually.
• RTAs, on behalf of AMCs, will track investments per investor per AMC per financial year through Gift PPIs, e-wallets, and cash.
• If a Gift PPI redemption transaction exceeds ₹50,000, the transaction will be rejected, and the PPI face value will be refunded to the issuer's escrow account.
• Traditionally, gift cards and prepaid solutions have been used for retail purchases, and adoption has increased due to digital payments, offering instant delivery and enhanced security.
• The consultation paper was prompted by a proposal from the Association of Mutual Funds in India (AMFI) to allow Gift PPI as an instrument for mutual fund investments.
• SEBI expects Gift Card / Gift PPI to improve financial inclusion by onboarding new investors in the mutual fund space.
• Additionally, SEBI approved recommendations from the high-level committee on “conflict of interest” and disclosures concerning SEBI officials, chaired by Pratyush Sinha, former Chief Vigilance Commissioner.

Recent News :

• In March 2026, Securities and Exchange Board of India (SEBI) tightened rules on intraday borrowings by mutual funds to manage temporary cash mismatches during redemptions.

Karnataka Grameena Bank Honoured with National Award for Outstanding Self-Help Groups-Bank Linkage 2024-25

• The Ministry of Rural Development (MoRD) conferred the National Award for Outstanding Performance in Self-Help Groups (SHG)-Bank Linkage 2024-25 to Karnataka Grameena Bank (KGB) for its significant contribution to rural economic empowerment and financial inclusion.
• The award was presented by Union Minister Shivraj Singh Chouhan, MoRD, to V. M. Rukmini Devi, General Manager (GM) of KGB, during the National Conference on Financial Literacy and Capacity Building and the 25th Central Level Coordination Committee (CLCC) meeting held in Hyderabad, Telangana.
• Aligned with the objectives of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), KGB has extended ₹2,835 crore credit to 80,904 Self-Help Groups (SHGs).
• The award recognizes KGB’s role in empowering rural women, promoting inclusive growth, and strengthening the SHG-bank linkage model for sustainable rural development.
• V. M. Rukmini Devi received the award on behalf of KGB and emphasized the bank’s continued commitment to inclusive and sustainable rural development in the coming years.

About Karnataka Grameena Bank :

• KGB is a Regional Rural Bank (RRB) formed on 1 May 2025 through the amalgamation of Karnataka Gramin Bank and Karnataka Vikas Grameena Bank, headquartered in Ballari, Karnataka, and sponsored by Canara Bank.
• Headquarters : Ballari, Karnataka, India
• Chairman : Sri Shrikant M Bhandiwad
• Owner : Government of India (50%), Government of Karnataka (15%), Canara Bank (35%)

Securities and Exchange Board of India Approves Key Regulatory Reforms at 213th Board Meeting in Mumbai

• The Securities and Exchange Board of India (SEBI) approved a wide-ranging set of regulatory changes covering market intermediaries, foreign investors, alternative investment funds (AIF), and governance norms at its 213th board meeting held in Mumbai, Maharashtra.
• Social Impact Fund (SIF) is a sub-category of Category-I AIF introduced in July 2022, which primarily invests in Not-for-Profit (NPOs) registered or listed on the Social Stock Exchange (SSE) and in for-profit social enterprises.
• SEBI amended the AIF Regulations, 2012, to reduce the minimum investment value by individual investors in SIFs of AIF from Rs 2 lakh to Rs 1,000.
• The SEBI board has introduced flexibility for AIFs in winding up schemes and surrendering registration.
• AIFs will now be allowed to retain liquidation proceeds beyond the tenure under specific conditions such as pending litigation, tax liabilities, or operational expenses, provided they comply with the regulatory requirements.

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 Revises Guidelines to Limit Liability in Unauthorised Electronic Banking Transactions

• The Reserve Bank of India (RBI) issued instructions in 2017 on limiting customer liability in unauthorised electronic banking transactions.
• In view of rapid adoption of technology in banking and payments, RBI reviewed its instructions and issued revised instructions, including a compensation mechanism for small value fraudulent transactions, for public/stakeholder consultation.

Key Highlights :

• The Indian Digital Payment Intelligence Corporation (IDPIC) was incorporated as a Section 8 company under the Companies Act, 2013.
• The primary mandate of IDPIC is to detect, prevent, and analyse fraud in India’s digital payments ecosystem in real time using Artificial Intelligence (AI), Machine Learning (ML), and Big Data Analytics.
• The Government is constantly engaging with RBI and other regulators to curb misuse of mule accounts for cyber frauds across the country.
• RBI rolled out “MuleHunter.AI”, an AI/ML-based solution for mule account detection, which is currently live in 26 banks and is being scaled up further.
• RBI advisories guide banks to adopt robust systems and controls to prevent and detect cyber-enabled frauds and suspected money mules.
• Banks are advised to deploy real-time transaction monitoring software, use AI/ML tools to detect suspicious and fraudulent patterns, and apply network analytics to identify mule networks.
• The Centre for Financial Literacy (CFL) project has been run by RBI since 2017 to adopt community-led participatory approaches to financial literacy, with 2,421 CFLs set up as of March 31, 2025, each covering three blocks.
• Financial Literacy Week (FLW) has been conducted every year since 2016 to promote financial education across India.
• RBI’s multi-media and multilingual public awareness campaign “RBI Kehta Hai” educates citizens about safe banking practices.
• Securities and Exchange Board of India (SEBI) runs the “SEBI vs SCAM” campaign to generate ongoing fraud awareness via TV, print, radio, and social media, in partnership with Market Infrastructure Institutions (MIIs).
• SEBI also launched the Saa₹thi Mobile App, providing educational resources and investment information to protect citizens from financial fraud.

Razorpay Teams Up with Sarvam AI to Introduce Voice-First Multilingual Digital Commerce in India

• Razorpay, an Indian fintech company, partnered with Sarvam AI, an Indian AI startup, to introduce voice-led, multilingual digital commerce solutions in India.
• The collaboration enables users to discover products, place orders, and complete payments through voice commands in their preferred language.
• Sarvam AI’s models and agentic technology stack will be integrated with Razorpay’s payment infrastructure, allowing AI agents to understand multilingual conversational inputs and execute real-time transactions.
• The feature will initially roll out on Sarvam AI’s Indus App, with Swiggy as an early partner for voice-based food ordering, while a pilot is already live on The Derma Co website for voice-based product browsing and purchases.
• The system is designed to understand user intent and perform the full transaction flow without traditional app navigation, making digital commerce more accessible for India’s multilingual user base.
• Similar voice-based commerce capabilities can also be integrated by businesses into their own platforms.
• Sarvam AI’s technology will be integrated into Razorpay’s Agent Studio, enabling developers to build multilingual AI agents that can interact with users in languages such as Hindi and Hinglish.
• The collaboration aims to enable AI agents to handle everything from product discovery to checkout in a single conversational flow, enhancing accessibility and convenience in Indian digital commerce.
• Razorpay also partnered with ai, an Indian AI startup, focusing on a more specific voice-commerce use case.
• Sarvam AI, based in Bengaluru, develops speech, language, and multimodal AI systems tailored for Indian languages and use cases.

L&T Finance Joins United Nations Global Compact as Signatory

• L&T Finance Limited. (LTF) has become a signatory to the United Nations Global Compact (UNGC), strengthening its sustainability and Environmental, Social, and Governance (ESG) framework.
• The move reaffirms LTF’s ethical practices and aligns its long-term strategy with UNGC principles on human rights, labour, environment, and anti-corruption.
• LTF will report annually on its progress in implementing the Ten Principles of the Global Compact as part of its participation in the UNGC.
• LTF is also a signatory to the Partnership for Carbon Accounting Financials (PCAF) to measure and manage financed emissions.
• The UNGC is the world's largest corporate sustainability initiative, and joining it integrates ESG principles into LTF’s core business strategy and operations.
• By joining UNGC, LTF becomes part of a global network of companies committed to responsible business action and advancing sustainable development goals (SDGs).
• The announcement publicly reaffirms LTF’s commitment to ethical business practices, sustainable development, and long-term value creation.

About L&T Finance Ltd :

• L&T Finance Ltd. (LTF), formerly L&T Finance Holdings Ltd. (LTFH), is a leading Non-Banking Financial Company (NBFC) in India, offering a range of financial products and services.
• Headquartered in Mumbai, LTF has been rated 'AAA', the highest credit rating, by four leading domestic rating agencies.

Goldman Sachs Cuts India’s Gross Domestic Product Growth Projection for CY26 to 5.9%

• Goldman Sachs has lowered India’s Gross Domestic Product (GDP) growth forecast for 2026 to 5.9%, down from 7% before the US-Iran conflict.
• They had earlier reduced it to 6.5 per cent in March; the revision follows rising crude oil prices due to supply disruptions, especially near the Strait of Hormuz.
• The investment bank expects Brent crude to average $105 per barrel in March and $115 in April if the disruption continues until mid-April.
• India’s inflation forecast for 2026 has been raised to 4.6 per cent, up from 4.2 per cent in mid-March and 3.9 per cent before the conflict.
• Although inflation is expected to stay within the Reserve Bank of India’s target range, Goldman Sachs anticipates upward pressure on consumer prices from currency depreciation and higher import costs.
• The report projects a 50 basis points hike in the policy repo rate this year, from the current 5.25 per cent, to manage inflation and currency weakness.
• Supply disruptions in the Strait of Hormuz could have lasting effects; if flows remain halted until mid-May, Brent crude could stay around $100 to $115 per barrel in the last quarter of 2026.
• Goldman Sachs forecasts India’s current account deficit (CAD) could widen to 2 per cent of GDP in 2026, up from 1.3 per cent in the October-December 2025 quarter.
• Goldman Sachs lowered India’s Gross Domestic Product (GDP) growth forecast to 5.9% in Calendar Year 2026 (CY26) over its pre-Iran war forecast of 7%.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Central Armed Police Forces (General Administration) Bill, 2026 Proposed to Retain Indian Police Service Leadership in CAPFs

• The Government of India is set to introduce the Central Armed Police Forces (General Administration) Bill, 2026 to formalise the administrative control and leadership structure in Central Armed Police Forces.
• The Bill proposes to retain the leadership role of Indian Police Service officers in senior positions of Central Armed Police Forces, reversing earlier efforts aimed at reducing their deputation.
• The proposal has triggered debate regarding control, promotions, and career growth opportunities of cadre officers within Central Armed Police Forces.
• The Bill covers the following forces:
• Border Security Force
• Central Reserve Police Force
• Central Industrial Security Force
• Indo-Tibetan Border Police
• Sashastra Seema Bal
• At present, Indian Police Service officers are appointed on deputation to senior leadership roles in these forces, and the Bill seeks to provide a clear legal framework supporting their continued presence in top positions.
• Earlier, the Supreme Court of India directed the government to gradually reduce deputation of Indian Police Service officers in Central Armed Police Forces and promote cadre officers from within the forces to leadership roles, ensuring fair career progression and promotion opportunities.
• The proposed Bill is expected to strengthen the deputation system of Indian Police Service officers, potentially diluting the earlier direction of the Supreme Court.
• The government supports continued leadership by Indian Police Service officers citing:
• Better coordination between police and paramilitary forces.
• Stronger internal security management.
• Improved decision-making at senior administrative levels.
• Concerns raised by Central Armed Police Forces cadre officers include:
• Reduced promotion opportunities for internal officers.
• Possible impact on morale within the forces.
• Ongoing debate regarding fair representation in leadership positions within Central Armed Police Forces.

Delhi Budget 2026–27 Presented with Green Development Focus and Outlay of ₹1.03 Trillion

• Rekha Gupta, Chief Minister of Delhi, presented the Delhi Budget 2026–27 with a total outlay of ₹1,03,700 crore (₹1.03 trillion).
• The Budget reflects a 3.7% increase compared to the previous financial year and has been described as a “Green Budget” with strong emphasis on environmental sustainability, education, healthcare, infrastructure, and civic services.
• About 21% of the total Budget allocation has been earmarked for green initiatives to address air pollution and environmental challenges, especially during winter months.
• The Budget integrates a “green lens” approach across policies to ensure development aligned with environmental protection.
• The Municipal Corporation of Delhi has been allocated ₹11,666 crore, including ₹1,000 crore for road improvements.
• An additional ₹1,352 crore has been allocated for development of dust-free roads to reduce pollution.
• ₹7,887 crore has been allocated for urban development and shelter projects.
• The Public Works Department has been allocated ₹5,921 crore for road construction, maintenance, and infrastructure development.
• The education sector received the highest allocation of ₹19,148 crore to improve schools, facilities, and quality of education.
• The health sector has been allocated ₹12,645 crore to strengthen healthcare infrastructure, hospitals, and public health services.
• The Delhi Jal Board has been allocated ₹9,000 crore for water supply and sewage management, including ₹475 crore for the Chandrawal Water Treatment Plant project.
• The power sector has been allocated ₹3,942 crore, including ₹200 crore for undergrounding electricity wires to improve safety and reliability.
• Tax revenue for the financial year is estimated at ₹74,000 crore.
• The Budget focuses on clean environment, sustainable development, improved civic infrastructure, and strengthening human development sectors.

RECENT NEWS

• Bharat Tribes Fest 2026 will kick off on the March 18 in New Delhi. This fest will be celebrating the vibrant culture, art and entrepreneurship of India’s tribal communities. This fest will be organized by TRIFED along with the Ministry of Tribal Affairs.

About Delhi:

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Vinai Kumar Saxena
• Capital: New Delhi
• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli Biodiversity Park

Gujarat Becomes Second State After Uttarakhand to Pass Uniform Civil Code Bill 2026

• The Government of Gujarat passed the Uniform Civil Code Bill, 2026 in the State Assembly, becoming the second state after Uttarakhand (2024) to pass a Uniform Civil Code law.
• The Bill was tabled by Bhupendra Patel, Chief Minister of Gujarat.
• The legislation proposes a common legal framework governing marriage, divorce, succession, inheritance, and live-in relationships across all religions to ensure equality before law.
• The Uniform Civil Code Bill, 2026 aims to replace religion-based personal laws with a uniform legal structure for civil matters such as marriage, divorce, inheritance, and succession.
• The Bill was introduced after submission of recommendations by a state-appointed committee supporting implementation of a uniform system.
• Key provisions of the Bill include:
• Prohibition of bigamy, ensuring a person cannot marry if they already have a living spouse.
• Mandatory registration of live-in relationships along with a formal declaration procedure for their termination.
• Introduction of uniform rules for inheritance and succession, reducing legal complexities across communities.
• The provisions of the Bill will not apply to Scheduled Tribes, whose customary rights are protected under the Constitution of India.
• These protections are linked to safeguards under the Fifth Schedule and Sixth Schedule of the Constitution of India, ensuring traditional practices of tribal communities remain unaffected.
• The concept of the Uniform Civil Code is mentioned in Article 44 of the Directive Principles of State Policy of the Constitution of India, which encourages the State to implement a uniform set of civil laws for all citizens.
• Since Directive Principles of State Policy are non-justiciable, implementation depends on legislative action and political will.
• The Bill represents a major step towards legal reform and social equality by promoting uniformity in personal laws irrespective of religion, reducing legal ambiguities, and simplifying judicial processes related to family laws.
• The development has also generated debate regarding religious freedom and cultural diversity, highlighting its importance in Indian polity.
• With this move, Gujarat joins Uttarakhand in advancing state-level implementation of the Uniform Civil Code, which may influence future national-level discussions on Uniform Civil Code implementation in India.

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

RECENT NEWS

• Gujarat has taken a important step towards to implement the Uniform Civil Code (UCC). The Justice Ranjana Prakash Desai committee submitted its final report to Chief Minister of Gujarat Bhupendra Patel. This report has been presented in three volumes and it outlines a detailed legal framework.

Government of India Constitutes Seven Empowered Committees to Address Impact of West Asia Crisis

• The Government of India constituted seven empowered committees to manage the economic, energy, trade, logistics, inflation, and national security impact arising from the escalating West Asia crisis.
• The committees will function under the direction of Narendra Modi with participation of senior officials from key ministries, reflecting a coordinated multi-sectoral preparedness strategy.
• The move aims to address possible disruptions in oil supplies, shipping routes such as the Strait of Hormuz, trade flows, supply chains, and inflation, given India’s dependence on energy imports.
• The committees will assess immediate risks and prepare short-term and long-term resilience strategies through real-time monitoring and inter-ministerial coordination.
• The committee on defence, external affairs and public order is led by Vikram Misri with Govind Mohan and Rajesh Kumar Singh as key members to assess geopolitical risks, evacuation preparedness, diplomatic coordination, and internal security readiness.
• The committee on economy, finance and supply chains is led by Anuradha Thakur, Secretary, Department of Economic Affairs, to monitor export-import disruptions, supply chain bottlenecks, and financial market stability.
• The committee on energy security covering petroleum, Liquefied Natural Gas and power is led by Neeraj Mittal, Secretary, Ministry of Petroleum and Natural Gas, with participation from Public Sector Undertakings such as Oil and Natural Gas Corporation, Indian Oil Corporation Limited, and GAIL, to ensure fuel supply stability, price management, and strengthening of strategic reserves.
• The committee on fertilisers and agriculture inputs led by Rajat Kumar Mishra will address risks related to fertiliser availability and agricultural production, while the committee on essential commodities and consumer affairs led by Nidhi Khare will ensure availability of essential goods and price stability to control inflationary pressures.

Indian Railways Revises Ticket Cancellation and Refund Policy 2026

• Ashwini Vaishnaw, Union Minister for Railways, introduced major reforms in the ticket cancellation and refund policy of Indian Railways.
• Under the revised rules, no refund will be provided if tickets are cancelled within 8 hours before train departure, replacing the earlier 4-hour rule.
• The revised policy will be implemented between 1 April and 15 April 2026.
• The reforms aim to curb misuse of tickets, prevent black marketing, improve seat utilisation, and ensure fair access to tickets during peak seasons.
• As per the revised refund structure:
• No refund if cancellation is made within 8 hours before departure.
• 50% deduction if cancellation is made between 24 hours and 8 hours before departure.
• 25% deduction if cancellation is made between 72 hours and 24 hours before departure.
• Full refund (after deducting basic charges) if cancellation is made more than 72 hours before departure.
• Earlier, no refund applied only if cancellation was made within 4 hours before departure, and 25% deduction applied for cancellations between 48 hours and 12 hours before departure, indicating a tightening of the cancellation window under the new policy.
• Additional passenger convenience reforms include:
• Passengers with counter tickets can now upgrade their travel class up to 30 minutes before departure, earlier allowed only before first reservation chart preparation (about 8 hours prior to departure).
• Passengers can change their boarding station up to 30 minutes before departure, allowing greater flexibility and better seat management.
• To strengthen the Tatkal booking system:
• Aadhaar-based One-Time Password verification has been introduced.
• Agents are restricted from booking tickets during the first 30 minutes of Tatkal booking opening time.
• Anti-bot technology has been deployed to prevent automated bulk bookings.
• More than 3 crore suspicious user IDs were deactivated to improve transparency and system efficiency.

RECENT NEWS

• Indian Railways launched the SHINE app to strengthen workplace safety and empower women employees across the organization. This initiative was made operational on March 8 2026 on International Women’s Day. Which is the marking an important step toward creating a secure and supportive work environment.

GHADC Makes Scheduled Tribe Certificate Mandatory to Contest Council Elections in Meghalaya

• The Garo Hills Autonomous District Council in Meghalaya passed an amendment making a Scheduled Tribe certificate mandatory to contest its elections.
• The development was announced on 24 March 2026 by Conrad Sangma.
• The amendment aims to reinforce the tribal character of the council by restricting eligibility to members of recognised Scheduled Tribes of Meghalaya.
• As per the amendment, non-tribal residents, even if permanent residents of the region, are no longer eligible to contest council elections.
• The amendment followed weeks of tension and controversy in the Garo Hills region, triggered by attempts of a non-tribal leader to file nomination, which led to protests by tribal groups demanding stricter eligibility norms.
• An earlier notification issued on 17 February 2026 attempting to enforce a similar rule was struck down by the Meghalaya High Court due to procedural lapses, stating that such changes must follow proper legislative procedure.
• The Garo Hills Autonomous District Council functions under the Sixth Schedule of the Constitution of India, which provides special administrative autonomy to tribal areas in North-East India.
• The Sixth Schedule is intended to protect tribal identity, customs, and governance systems, and restricting candidature to Scheduled Tribes aligns with this objective.
• The amendment also followed key political developments related to the council:
• Postponement of GHADC elections originally scheduled for 10 April 2026.
• Extension of the council’s term by six months.
• Resignation of the Chief Executive Member.
• Appointment of a new Chief Executive Member, after which the amendment was introduced through proper legislative procedure.
• The Sixth Schedule of the Constitution of India provides for Autonomous District Councils in tribal areas of Assam, Meghalaya, Tripura, and Mizoram, with powers relating to:
• Land and forest management.
• Tribal customs and traditions.
• Local governance administration.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Asia Africa Agri Alliance Launched in New Delhi by Senior Diplomats and Agribusiness Leaders

• Senior ambassadors, diplomats, policymakers, and agribusiness leaders from over ten nations formally launched the Asia Africa Agri Alliance (AAAA) in New Delhi, Delhi.
• The Asia Africa Agri Alliance (AAAA) is a new institutional platform aimed at strengthening trade, agricultural cooperation, investment, and technology exchange between Asia and Africa.
• The initiative seeks to create a structured framework for trade partnerships and policy alignment across the agri-food value chain.
• The AAAA has been established as a Section 8 Not-for-Profit Organisation (NPO) under the Companies Act, 2013.
• The primary purpose of AAAA is to facilitate structured frameworks for trade partnerships, policy alignment, technology exchange, and investment mobilisation across the agri-food value chain.
• The alliance will operate through five key pillars: Trade and Market Access; Technology and Innovation Transfer; Investment and Finance; Policy, Standards and Agriculture Diplomacy; and Capacity Building and Knowledge Exchange.
• The platform aims to promote cooperation and collaboration between Asian and African nations in agriculture and food sectors.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

CA P.V. Narayana Rao Appointed Co-opted Member of Institute of Chartered Accountants of India’s Sustainability Reporting Standards Board for 2026-27

• Chartered Accountant (CA) P.V. Narayana Rao has been appointed as a Co-opted Member of the Sustainability Reporting Standards Board (SRSB) of the Institute of Chartered Accountants of India (ICAI) for the term 2026-27.
• As a co-opted member, he will contribute to the development and strengthening of sustainability reporting standards in India.

About P.V. Narayana Rao :

• P. V. Narayana Rao served as Chairman of the ICAI Warangal Branch in 2015 and was later appointed as a Co-opted Member of the Public Relations Committee of ICAI (Central Council) in 2016.
• He is currently serving as Vice President of the Telangana and Andhra Pradesh Tax Bar Association (TAPTB Association).
• The Institute of Chartered Accountants of India (ICAI), a statutory body formed under the Chartered Accountants Act, 1949, set up the Sustainability Reporting Standards Board (SRSB) in February 2020 with the objective of creating globally aligned sustainability frameworks and reporting standards.
• These standards aim to help Indian corporates align with the United Nations Sustainable Development Goals (SDGs) 2030.

About ICAI :

• Headquarters : New Delhi, India
• President : CA. Charanjot Singh Nanda
• ICAI, is India's largest professional accounting body under the administrative control of the Ministry of Corporate Affairs, Government of India.
• It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament for promotion, development and regulation of the profession of Chartered Accountancy in India.

CURRENT AFFAIRS: AWARDS AND HONOURS

Kalpana Soren Conferred Women Empowerment Trailblazer Award at BRICS CCI WE Summit 2026

• Kalpana Soren, Member of Legislative Assembly from Gandey, Jharkhand, was honoured with the Women Empowerment Trailblazer Award 2026.
• The award was presented during the BRICS CCI WE Annual Women Summit and Felicitation 2026 held in New Delhi.
• The recognition was given for her contribution to promoting women-led development and grassroots empowerment, particularly in rural and tribal areas of Jharkhand.
• The Women Empowerment Trailblazer Award honours individuals who have made significant contributions to women’s empowerment at the grassroots level.
• The BRICS Chamber of Commerce and Industry Women Empowerment Summit serves as a platform for dialogue on women’s leadership and global development.
• The summit was attended by prominent personalities including Meenakshi Lekhi, Raksha Khadse, Abhishek Singh (Director General, National Informatics Centre), Shabana Azmi, and Bhumi Pednekar.

CURRENT AFFAIRS: RANKING AND INDEX

Global Terrorism Index 2026 Released: Pakistan Tops List; Terrorism Deaths Decline Globally

• The Global Terrorism Index 2026 highlighted that terrorism remains a serious global threat despite a significant decline in deaths and incidents in 2025.
• In 2025, 5,582 people were killed in 2,944 terrorist attacks, reflecting:
• 28% decline in deaths
• 22% decline in incidents compared to the previous year
• 81 countries improved, while 19 countries recorded worsening terrorism impact.
• Terrorism impact is becoming more geographically concentrated, especially in Sub-Saharan Africa and the Sahel region.
• The report also flagged concerns such as youth radicalisation, cross-border terrorism, and lone-wolf attacks.
• The Global Terrorism Index score is calculated using four indicators:
• Total number of terrorist incidents
• Total number of deaths
• Total number of injuries
• Total number of hostages

Top 10 Countries in Global Terrorism Index 2026

India and Neighbouring Countries in Global Terrorism Index 2026

Least Affected Countries (Rank 100)

• Sub-Saharan Africa, especially the Sahel region, accounted for more than 50% of global terrorism deaths in 2025, making it the new epicentre of terrorism.
• Terrorism deaths declined in 10 African countries, while 4 countries recorded an increase.
• The five most affected countries:
• Pakistan
• Burkina Faso
• Nigeria
• Niger
• Democratic Republic of the Congo
  together accounted for nearly 70% of global terrorism deaths.
• Deadliest terrorist organisations in 2025:
• Islamic State
• Jamaat Nusrat Al-Islam wal Muslimeen
• Tehrik-e-Taliban Pakistan
• Al-Shabaab
• Long-term global trend:
• Terrorism deaths peaked at 10,882 in 2015
• Declined to 5,582 in 2025
• Iraq and Afghanistan recorded 95%–99% decline in terrorism-related deaths
• Terrorism hotspot shifted from Middle East to Africa
• India ranked 13th in the Global Terrorism Index 2026, indicating continued security challenges but relatively better stability compared to highly affected countries.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Svatantra Microfin Merges with Chaitanya India Fin Credit Private Limited and Svatantra Holding to Form 2nd Largest NBFC-MFI

• Svatantra Microfin Private Limited (SMPL) completed its amalgamation with Chaitanya India Fin Credit Private Limited (CIFCPL) and Svatantra Holding Private Limited (SHPL), forming the 2nd largest Non-Banking Financial Company–Microfinance Institution (NBFC-MFI) in India.
• The merger was approved by the National Company Law Tribunal (NCLT), Mumbai, with clearances from the Reserve Bank of India (RBI), Competition Commission of India (CCI), and BSE Limited.
• The amalgamation integrates the operations of Svatantra Microfin, CIFCPL, and its holding entity, consolidating the group's market position.
• As part of the corporate restructuring, Svatantra Micro Housing Finance Corporation Limited (SMHFCL) became a wholly owned subsidiary of SMPL, enabling a wider product portfolio including microloans and secured housing finance.
• The merged entity now manages a consolidated AUM of ₹22,000 crore, operates across 2,200 branches in 20 States, employs 25,000 people, and has recorded cumulative disbursements of ₹70,000 crore since inception.
• The company serves around 5 million customers across microentrepreneur and unbanked segments, strengthening its rural and affordable finance footprint.
• The transaction concludes a multi-stage integration process that began with Svatantra’s acquisition of CIFCPL from the Navi Group in November 2023.
• The unified entity holds a CAREEdge AA (Stable Outlook) credit rating and aims to optimize borrowing costs while expanding focus on affordable housing, micro-enterprise loans, and livelihood financing across rural India.
• Svatantra was founded in 2012 by Ananya Birla and began operations in March 2013, marking over a decade of growth in the NBFC-MFI sector.

CURRENT AFFAIRS : ENVIRONMENT

Zoological Survey of India Researchers Identify New Cockroach Species Neoloboptera peninsularis in Maharashtra

• Scientists from the Zoological Survey of India (ZSI) discovered a new cockroach species named Neoloboptera peninsularis in the Deccan Peninsula, specifically Nathachiwadi, Pune, Maharashtra.
• The discovery was published in the scientific journal “Records of ZSI”, highlighting its scientific significance.
• The species name “peninsularis” is derived from Peninsular India, indicating its regional origin.
• The study used integrative taxonomy, combining morphological analysis, genitalic study, DNA barcoding, and phylogenetic analysis.
• It marks the first DNA-based identification of a cockroach species in India, showcasing the use of modern molecular techniques.
• The species belongs to the genus Neoloboptera and was found in palm shrubs and dry leaf litter near agricultural fields.
• Key features include a glossy yellowish-brown body, fully developed wings, asymmetrical cerci, and a distinctive whip-like male genital structure.
• The new species is superficially similar to Neoloboptera chakrabortyi but differs in asymmetrical subgenital plate and denser setae at apex.
• It is the third species of the genus Neoloboptera recorded in India, with earlier records in 1865 and 1995.
• The discovery raises the total cockroach species count in India to 190, representing about 8% of global cockroach diversity.
• Neoloboptera peninsularis is considered endemic to India, highlighting the country’s rich biodiversity.
• The specimens were manually collected, preserved in 70% ethanol, and studied using combined morphological and DNA sequencing
• Researchers indicated that new genetic lineages found during the study suggest the possibility of discovering more new species in the future.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

IIT-Kharagpur and PRL Scientists Study Formation of Titanium-Rich Lunar Basalts

• Researchers from IIT-Kharagpur and Physical Research Laboratory (PRL), Ahmedabad, conducted a study on the formation of titanium-rich basalts on the Moon, published in Geochimica et Cosmochimica Acta.
• Lunar volcanic rocks contain unusually high levels of titanium dioxide (TiO₂), with some basalts having up to 18% TiO₂, compared to less than 2% TiO₂ in Earth's volcanic rocks.
• These lunar basalts originated from ancient lava flows formed billions of years ago, making them critical for understanding the Moon’s geological evolution.
• Researchers simulated lunar interior conditions using high-pressure and high-temperature experiments, replicating depths of up to 700 km inside the Moon.
• Titanium-rich basalts formed through a two-stage process involving melting, chemical interaction, and mixing between dense titanium-rich layers and the Moon’s mantle.
• The study highlights the role of a dense ilmenite-bearing cumulate (IBC) layer, which formed during the Moon’s early cooling phase and partially melted to generate titanium-rich magma.
• Some magma remained trapped deep within the Moon, later mixing with rising molten material to produce titanium-rich lava flows that reached the surface over time.
• Ilmenite is a titanium-bearing mineral found on the Moon.
• The Moon formed around 4.5 billion years ago from a magma ocean.
• High-pressure experiments simulate planetary interior conditions, providing insights into basalt formation.
• Findings will aid planning for future lunar missions, including India’s Chandrayaan-4 mission (2028), by helping identify optimal landing sites and guiding sample collection strategies.
• The study demonstrates India’s capability in advanced planetary research and high-pressure experimental science.

Union Minister Ashwini Vaishnaw Launches National AI Skilling, MyWAVES, and Advanced EPG with In-Built TV Tuners for DD Free Dish

• Union Minister Ashwini Vaishnaw, Ministry of Information & Broadcasting (MIB), launched three major initiatives in New Delhi, Delhi: National AI Skilling Initiative, MyWAVES, and Advanced Electronic Programme Guide (EPG) with in-built satellite tuners in TV sets to enhance access to Doordarshan (DD) Free Dish
• The National AI Skilling Programme is launched in partnership with Google and YouTube and is designed to train 15,000 participants from the creative and media sectors.
• The programme is being implemented through the Indian Institute of Creative Technologies (IICT).
• MyWAVES is a new feature within the WAVES OTT platform that allows citizens to create, upload, and share content, supporting Doordarshan’s Creators’ Corner
• The Advanced EPG & in-built satellite tuner in TV sets enables viewers to watch DD Free Dish channels directly on TV, eliminating the need for a separate set-top box and reducing costs, wiring, and hassle of multiple remotes.
• Ashwini Vaishnaw highlighted that the government’s push for democratisation of technology has transformed television viewing in India, making high-quality entertainment accessible to households.
• Built-in TV cards in modern television sets have replaced large set-top boxes, achieved through collaboration between TV manufacturers, Prasar Bharati, and Doordarshan under the Free Dish initiative.
• The initiative represents a significant step towards cost efficiency and ease of access for consumers, ensuring entertainment reaches every household.
• MyWAVES, along with Doordarshan’s Creators’ Corner, provides a structured platform for content creators to showcase India’s culture, tourism, handicrafts, and regional stories.
• The government aims to develop a comprehensive ecosystem where government, industry, and creator economy collaborate in a structured manner.

CURRENT AFFAIRS : OBITUARIES

Former French Prime Minister Lionel Jospin Passed away at 88 in Paris

• Lionel Robert Jospin, former Prime Minister of France, passed away at the age of 88 in Paris, France.

About Lionel Robert Jospin :

• He was born on 12 July 1937 in Meudon, near Paris.
• Lionel Jospin served as the Prime Minister of France from 1997 to 2002 under President Jacques Chirac.
• He was appointed First Secretary (head) of the Socialist Party in 1981 by President François Mitterrand.
• Before becoming Prime Minister, he held ministerial positions under François Mitterrand and played a key role in French socialist politics.
• As Prime Minister, he led a left-wing coalition government “gauche plurielle” in a cohabitation arrangement with President Jacques Chirac.
• One of his major reforms was the reduction of the work week from 39 hours to 35 hours, a landmark labour reform in France.
• He introduced Civil Unions (CU) granting equal rights to both LGBTQ+ and heterosexual couples.
• He also extended free healthcare through universal health coverage, strengthening social welfare policies.
• He enacted the Parity Law, promoting gender equality in political representation.
• In the 2002 Presidential Election, he was eliminated in the first round, as far-right leader Jean-Marie Le Pen advanced to the runoff against Jacques Chirac.
• Following his defeat in 2002, Lionel Jospin announced his retirement from politics.
• He later served as a member of France’s Constitutional Council from 2015 to 2019, contributing to constitutional governance.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade – 25 March 2026

• The International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is observed annually on 25 March across the world.
• It is an international observance designated by the United Nations in 2007.
• The day aims to honour and remember the victims of the transatlantic slave trade and to preserve the memory of this tragic chapter in human history.
• It seeks to raise awareness about the dangers of racism, prejudice, and intolerance.
• The transatlantic slave trade, spanning over 400 years, is regarded as one of the worst violations of human rights in history.
• During this period, more than 15 million men, women, and children were subjected to slavery and exploitation.
• The observance emphasizes the need to educate future generations about the causes, consequences, and lessons of slavery, ensuring such atrocities are never repeated.

Daily CA One- Liner: March 26

• The Government of India is set to introduce the Central Armed Police Forces (General Administration) Bill, 2026 to formalise the administrative control and leadership structure in Central Armed Police Forces
• Rekha Gupta, Chief Minister of Delhi, presented the Delhi Budget 2026–27 with a total outlay of ₹1,03,700 crore (₹1.03 trillion).
• The Government of Gujarat passed the Uniform Civil Code Bill, 2026 in the State Assembly, becoming the second state after Uttarakhand (2024) to pass a Uniform Civil Code law
• The Government of India constituted seven empowered committees to manage the economic, energy, trade, logistics, inflation, and national security impact arising from the escalating West Asia crisis
• Ashwini Vaishnaw, Union Minister for Railways, introduced major reforms in the ticket cancellation and refund policy of Indian Railways
• The Garo Hills Autonomous District Council in Meghalaya passed an amendment making a Scheduled Tribe certificate mandatory to contest its elections
• Kalpana Soren, Member of Legislative Assembly from Gandey, Jharkhand, was honoured with the Women Empowerment Trailblazer Award 2026
• The Global Terrorism Index 2026 highlighted that terrorism remains a serious global threat despite a significant decline in deaths and incidents in 2025
• The International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is observed annually on 25 March across the world.
• The Securities and Exchange Board of India (SEBI) has proposed allowing gift cards / prepaid payment instruments (PPIs) for investing in mutual funds to boost financial inclusion.
• The Ministry of Rural Development (MoRD) conferred the National Award for Outstanding Performance in Self-Help Groups (SHG)-Bank Linkage 2024-25 to Karnataka Grameena Bank (KGB) for its significant contribution to rural economic empowerment and financial inclusion.
• The Securities and Exchange Board of India (SEBI) approved a wide-ranging set of regulatory changes covering market intermediaries, foreign investors, alternative investment funds (AIF), and governance norms at its 213th board meeting held in Mumbai, Maharashtra.
• The Reserve Bank of India (RBI) issued instructions in 2017 on limiting customer liability in unauthorised electronic banking transactions.
• Razorpay, an Indian fintech company, partnered with Sarvam AI, an Indian AI startup, to introduce voice-led, multilingual digital commerce solutions in India.
• L&T Finance Limited. (LTF) has become a signatory to the United Nations Global Compact (UNGC), strengthening its sustainability and Environmental, Social, and Governance (ESG) framework.
• Goldman Sachs has lowered India’s Gross Domestic Product (GDP) growth forecast for 2026 to 9%, down from 7% before the US-Iran conflict.
• Senior ambassadors, diplomats, policymakers, and agribusiness leaders from over ten nations formally launched the Asia Africa Agri Alliance (AAAA) in New Delhi, Delhi.
• Chartered Accountant (CA) P.V. Narayana Rao has been appointed as a Co-opted Member of the Sustainability Reporting Standards Board (SRSB) of the Institute of Chartered Accountants of India (ICAI) for the term 2026-27.
• Svatantra Microfin Private Limited (SMPL) completed its amalgamation with Chaitanya India Fin Credit Private Limited (CIFCPL) and Svatantra Holding Private Limited (SHPL), forming the 2nd largest Non-Banking Financial Company–Microfinance Institution (NBFC-MFI) in India.
• Scientists from the Zoological Survey of India (ZSI) discovered a new cockroach species named Neoloboptera peninsularis in the Deccan Peninsula, specifically Nathachiwadi, Pune, Maharashtra.
• Researchers from IIT-Kharagpur and Physical Research Laboratory (PRL), Ahmedabad, conducted a study on the formation of titanium-rich basalts on the Moon, published in Geochimica et Cosmochimica Acta.
• Union Minister Ashwini Vaishnaw, Ministry of Information & Broadcasting (MIB), launched three major initiatives in New Delhi, Delhi: National AI Skilling Initiative, MyWAVES, and Advanced Electronic Programme Guide (EPG) with in-built satellite tuners in TV sets to enhance access to Doordarshan (DD) Free Dish
• Lionel Robert Jospin, former Prime Minister of France, passed away at the age of 88 in Paris, France.