Daily Current Affairs

The Government of India (GoI) introduced the Credit Guarantee Scheme for Microfinance Institutions 2.0 (CGSMFI-2.0) in March 2026 to facilitate increased credit flow to NBFC-MFIs and Microfinance Institutions (MFIs) for on-lending to small borrowers.

• Purpose – Provides guarantee cover to Member Lending Institutions (MLIs) against expected losses on financial assistance extended to MFIs and NBFC-MFIs.
• Beneficiaries – Approximately 36 lakh borrowers expected to benefit.
• Managed by – National Credit Guarantee Trustee Company (NCGTC), wholly owned by Department of Financial Services, Ministry of Finance (MoF).
• Effective from – 20 March 2026; valid till 30 June 2026 or till loan guarantees of Rs 20,000 crore are issued, whichever is earlier.

The first edition of the Bharat Electricity Summit (BES 2026) was held from 19–22 March 2026 at Yashobhoomi, Dwarka, New Delhi, bringing together global stakeholders to strengthen India’s energy transition and power sector reforms.

• Inaugurated by – Union Minister Manohar Lal, Ministry of Power (MoP).
• Theme – ‘Electrifying Growth. Empowering Sustainability. Connecting Globally.’
• Organiser – Bureau of Energy Efficiency (BEE) under MoP; aligned with Viksit Bharat 2047 vision.
• Key Launch – Indian Carbon Market Portal (www.indiancarbonmarket.gov.in) — central platform for implementing and administering India’s carbon credit market.
• Next edition – BES 2028 will be held at Gandhinagar, Gujarat.

The Forest Survey of India (FSI) under MoEFCC signed an MoU with Bhaskarcharya National Institute for Space Applications and Geo-informatics (BISAG-N) to enhance use of geospatial technologies in forestry and environmental management. Signing took place during the 90th meeting of the Standing Committee of the National Board for Wildlife (SC-NBWL), chaired by Union Minister Bhupendra Yadav, in Dehradun, Uttarakhand.

• Objective – Strengthen use of geospatial technologies, remote sensing, and AI/ML-based tools for forest management, wildlife conservation, and data-driven decision support.
• BISAG-N – Headquartered in Gandhinagar, Gujarat; under MoEFCC.
• SC-NBWL – Statutory body formed under the Wild Life (Protection) Act, 1972; advises government on wildlife and forest conservation.

The Government of India 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) under DST, Ministry of Science & Technology, in Hyderabad, Telangana.

• Inaugurated by – Prof. Abhay Karandikar, Secretary, DST; and Dr. R. Vijay, Director, ARCI.
• Technology – End-to-end process from strip-cast alloy production to finished sintered magnets; supports technology validation and deep-tech startups.
• Significance – Nd-Fe-B magnets are essential for Electric Vehicles (EVs), Renewable Energy (RE) systems, and advanced electronics; reduces import dependence and strengthens India’s rare earth supply chain.

Rashtriya Raksha University (RRU), an Institution of National Importance (INI) under the Ministry of Home Affairs (MHA), signed an MoU with Sashastra Seema Bal (SSB) Academy in New Delhi to strengthen national security training and capacity building.

• RRU Role – Will offer academic accreditation for training programs at SSB Academy; exchange of faculty expertise and training facilities.
• Framework – RRU will review SSB curriculum and co-develop course content for degree and diploma programmes; establish assessment and grading framework.
• SSB – Sashastra Seema Bal — border-guarding force of India; deployed on India-Nepal and India-Bhutan borders; under MHA.

On 23 March 2026, South Indian Bank (SIB) appointed Jose Joseph Kattoor, a former Executive Director (ED) of the Reserve Bank of India (RBI), as its Non-Executive Part-Time Chairman (Independent Director) for a three-year term, following RBI approval, in compliance with the Banking Regulation Act, 1949.

• Predecessor – Succeeds V. J. Kurian, whose tenure concluded on 22 March 2026.
• Experience – Over three decades in central banking; served at RBI from 1991 to 2023, retired as ED; led Enforcement, Corporate Strategy, Currency Management, and Human Resources departments.
• SIB – Headquarters in Thrissur, Kerala; private sector commercial bank.

City Union Bank Limited (CUB) appointed Indian cricketer Ravindrasinh Anirudhsinh Jadeja as its brand ambassador for a period of two years.

• Objective – Strengthen bank’s visibility and connect with broader customer base across India.
• Partner – Agreement executed with Baseline Ventures India Private Limited, which manages sports personalities and brand partnerships.
• CUB – City Union Bank; headquarters in Kumbakonam, Tamil Nadu; private sector bank listed on BSE and NSE.

The Institute for Economics and Peace (IEP), an Australian think tank based in Sydney, released the Global Terrorism Index (GTI) 2026 on 20 March 2026. For the first time since the index’s inception, Pakistan has been ranked as the country most impacted by terrorism globally.

• Pakistan – 1,139 deaths and 1,045 incidents in 2025 — highest fatality levels since 2013; sixth consecutive year of rising terrorism deaths; TTP (Tehreek-i-Taliban Pakistan) caused 56% of fatalities (637 deaths); BLA (Balochistan Liberation Army) also surged; hostages spiked from 101 to 655 (Jaffar Express attack: 442 hostages).
• India – Ranked 13th (score 6.428); 43% decline in terrorism impact; ~142 incidents, over 100 deaths in 2025 — attributed to robust counter-terror operations and border security.
• Global Trends – Terrorism deaths declined 28% to 5,582 (lowest since 2007); incidents decreased 22% to 2,944 (lowest since 2007); 81 countries improved; 5 countries account for 70% of deaths.
• GTI Methodology – Assesses 163 countries (99.7% of world population); score 0 to 10 (0 = no impact; 10 = highest impact); uses 4 indicators: incidents, fatalities, injuries, hostages.

India and Bhutan signed an MoU in Thimphu, Bhutan, to strengthen bilateral cooperation in the postal sector, aiming to enhance connectivity, service delivery, and institutional collaboration.

• Signed during – Visit of Vandita Kaul, Secretary (Posts), Ministry of Communications, to Bhutan from 19–22 March 2026.
• Framework – Collaboration between India Post and Bhutan Post covering postal operations, technology, logistics, e-commerce, financial services, philately, and knowledge exchange.
• Key Initiative – Launch of UPU–UPI cross-border digital remittance system (Universal Postal Union – Unified Payments Interface).
• Implementation – Bhutan Postal Corporation Limited (Bhutan); Department of Posts (DoP), Ministry of Communications (India).

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, aimed at enhancing maritime cooperation in the Indo-Pacific region.

• Edition – 17th edition of Exercise Kakadu 2026; over 19 nations and 6,000 personnel; covering Jervis Bay to Darwin, Australia.
• Fleet Review – Kakadu Fleet Review held in Sydney Harbour, New South Wales on 21 March 2026 — largest gathering of foreign warships in over a decade; commemorated 125th anniversary of the Royal Australian Navy (RAN).
• India’s Role – INS Nilgiri participated in coordinated naval manoeuvres off northern Australia alongside warships from Malaysia, Philippines, and Thailand.
• Achievement – Crew of INS Nilgiri won the Kakadu Shield Trophy during sporting events at Darwin.

World Tuberculosis (TB) Day is observed globally on 24 March every year to raise public awareness about the health, social, and economic consequences of TB. The date commemorates Dr. Robert Koch’s announcement on 24 March 1882 of the discovery of Mycobacterium tuberculosis — the bacterium responsible for TB.

• 2026 Theme – ‘Yes! We Can End TB: Led by Countries, Powered by People’ — announced by the Stop TB Partnership (Geneva) on 2 February 2026.
• Organised by – WHO and Stop TB Partnership; first WHO-sponsored World TB Day was in 1982.
• Global Statistics (2024) – 10.7 million people fell ill with TB; 1.23 million died; 83 million lives saved since 2000.
• India Context – Runs National Tuberculosis Elimination Programme (NTEP), renamed from RNTCP in 2020; target: TB-free India by 2027; key scheme: Nikshay Poshan Yojana (nutritional support for TB patients).

World Water Day was observed on 22 March 2026. The 2026 theme was ‘Water and Gender’ with tagline ‘Where Water Flows, Equality Grows’. Organised by UN-Water; first observed on 22 March 1993 following UNGA resolution A/RES/47/193 (1992).

• Key Statistic – 2.1 billion people globally lack safely managed drinking water.
• Theme Focus – Highlights the disproportionate burden of water insecurity on women and girls; promotes gender-inclusive water governance.
• Organised by – UN-Water (United Nations inter-agency coordination mechanism for freshwater-related issues).

Veteran BJP leader and former Member of Parliament Datta Raghobaji Meghe (born 11 November 1936) passed away on 22 March 2026 at his residence in Nagpur at the age of 89.

• Political Career – Four-time Congress Lok Sabha MP from Nagpur, Ramtek, and Wardha; Rajya Sabha member from 2002 to 2008 (Maharashtra); Maharashtra Legislative Council member three times (1978–1991 and 2001–2002); Maharashtra Cabinet minister twice.
• Party Trajectory – Congress → NCP (1999, with Sharad Pawar) → BJP (2014).
• Legacy – Founded Datta Meghe Group of Institutions — medical colleges, engineering institutes, hospitals across Vidarbha region; tributes by Union Minister Nitin Gadkari and CM Devendra Fadnavis.