🇮🇳 National News
Union Minister Ashwini Vaishnaw (Ministry of Railways) announced the successful completion of oscillation trials for India’s first hydrogen-powered trainset, tested by the Research Designs and Standards Organisation (RDSO). India now joins Germany, Sweden, Japan, and China as nations with hydrogen rail technology.
- Route – Jind–Sonipat, Haryana (~89 km); non-electrified diesel route under Northern Railway
- Manufacturer – Integral Coach Factory (ICF), Chennai, indigenously designed under RDSO framework
- Train Specs – 10 coaches (8 passenger + 2 Driving Power Cars); 1,200 kW each = total 2,400 kW; longest broad-gauge hydrogen train globally
- Trial Speed – 20 km covered at max 70 kmph; commercial speed: up to 110 kmph
- Emissions – Zero CO₂; only byproduct is water vapour (hydrogen + oxygen fuel cell reaction)
- Hydrogen Infrastructure – 1 MW hydrogen production plant at Jind; 3,000 kg storage capacity; supports National Green Hydrogen Mission
Key Facts: India’s 1st hydrogen train | Route: Jind–Sonipat (Haryana, Northern Railway) | Maker: ICF Chennai | Tested by: RDSO | 10 coaches, 2,400 kW | Trial: 70 kmph | Commercial: 110 kmph | Zero CO₂ | India joins Germany, Sweden, Japan, China | World’s longest broad-gauge hydrogen train
The Ministry of Defence (MoD) signed two contracts worth Rs 858 crore to strengthen India’s defence capabilities. The Defence Acquisition Council (DAC), chaired by Rajnath Singh, also approved procurement proposals worth ~Rs 2.38 lakh crore for the Indian Army, Air Force, and Coast Guard.
- Tunguska ADMS – Rs 445 crore with JSC Rosoboronexport (Russia) for Tunguska Air Defence Missile Systems for the Indian Army; self-propelled anti-aircraft weapon targeting low-flying aircraft, helicopters, and cruise missiles
- P-8I Maintenance – Rs 413 crore with Boeing India Defense Pvt. Ltd (USA) for Depot-Level Inspection (DLI) of P-8I Long-Range Maritime Reconnaissance (LRMR) aircraft for the Indian Navy; Indian variant of Boeing’s P-8A anti-submarine warfare aircraft
- DAC Approval – Acceptance of Necessity (AoN) granted for proposals targeting Indian Army (IA), Indian Air Force (IAF), and Indian Coast Guard (ICG) operational enhancement
Mnemonic — TBD: Tunguska (Russia) + Boeing (USA) = Defence | Tunguska: Rs 445 cr, anti-aircraft | P-8I: Rs 413 cr, maritime reconnaissance | Total: Rs 858 cr | DAC: Rs 2.38 lakh cr approved | Chaired by: Rajnath Singh
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, signed MoUs with two companies to support India’s startup ecosystem in digital entertainment, gaming, and deep-tech sectors.
- DPIIT–KRAFTON MoU – KRAFTON India Pvt. Ltd (South Korean gaming company; known for BGMI/PUBG Mobile India); focus: digital entertainment, online gaming, Esports, interactive media, and AI; supports startups, innovators, and entrepreneurs
- DPIIT–Repos Energy MoU – Repos Energy India Pvt. Ltd (deep fuel-tech platform); focus: technology ecosystem for startups in manufacturing and deep-tech; includes innovation challenges, hackathons, investor connect, skill development, and pilot opportunities
DPIIT = Ministry of Commerce & Industry | KRAFTON India = South Korean gaming (BGMI/PUBG) → digital entertainment & AI startup support | Repos Energy = deep fuel-tech → manufacturing & deep-tech startups
The Government of India signed a working arrangement with the European Union in the field of industrial aviation production to boost bilateral cooperation in aviation manufacturing and align with global safety standards.
- Signatories – DGCA (India) and EASA (European Union Aviation Safety Agency); signed at a regional aviation workshop in New Delhi under the EU-South Asia Aviation Partnership Project
- Key Project – Assembly of Airbus Helicopters H125/AS350 in Bengaluru, Karnataka; major step for India’s aviation manufacturing and Make in India
DGCA (India) + EASA (EU) | Aviation manufacturing MoU | Airbus H125 assembly: Bengaluru | Linked to: Make in India | Context: EU-South Asia Aviation Partnership Project
The Delhi Tourism and Transportation Development Corporation (DTTC) signed an MoU with Prasar Bharati to develop Delhi as a major hub for the media and entertainment industry. The MoU was signed at Bharat Mandapam on the sidelines of the International Film Festival Delhi (IFFD).
- Key Objective – Develop a state-of-the-art integrated film, television, and media hub combining film production, TV, and AVGC (Animation, Visual Effects, Gaming & Comics) on a unified platform
- Facilities – Modern studios; post-production facilities; AVGC hubs; skill development and training
- Governance – Joint coordination committee (DTTC + Prasar Bharati) for planning, financing, and implementation
Prasar Bharati = India’s public broadcaster; est. under Prasar Bharati Act, 1990; includes Doordarshan (TV) + Akashvani/All India Radio (AIR); HQ: New Delhi | MoU signed at: Bharat Mandapam | Occasion: IFFD | Focus: AVGC + Film + TV hub in Delhi
The National Council for Cement and Building Materials (NCB), Ministry of Commerce and Industry, signed an MoU with UltraTech Cement Limited to strengthen skill development in India’s construction sector over 3–5 years.
- Training Scope – Civil engineers, RMC (Ready-Mix Concrete) professionals, contractors, construction workers, and masons; covers material quality testing, concrete mix proportioning, durability, and sustainable construction
- Alignment – Skill India Mission (launched 2015 by PM Modi); meets demands of India’s infrastructure growth
- Signed by – Dr. L.P. Singh (DG, NCB) and Er. Rahul Goel (Head – Technical Services, UltraTech Cement) at NCB campus, Ballabgarh, Haryana
NCB = National Council for Cement & Building Materials | Ministry: Commerce & Industry | Partner: UltraTech Cement | Duration: 3–5 years | Venue: Ballabgarh, Haryana | Linked to: Skill India Mission (2015)
Hockey India held its 8th Annual Awards 2025 on 27 March 2026 in New Delhi, attended by Union Ministers Mansukh Mandaviya (Youth Affairs & Sports) and Raksha Khadse (MoS). Separately, Indian hockey forward Gurjant Singh announced his retirement from international hockey at the same ceremony.
| Award | Recipient | Prize |
|---|---|---|
| Player of Year – Men (Balbir Singh Sr. Award) | Hardik Singh (midfielder) | Rs 20 lakh |
| Player of Year – Women (Balbir Singh Sr. Award) | Navneet Kaur (forward) | Rs 20 lakh |
| Lifetime Achievement (Maj. Dhyan Chand Award) | Zafar Iqbal (former captain) | Rs 25 lakh |
| Upcoming Player – Men U-21 (Jugraj Singh Award) | Prince Deep Singh | Rs 10 lakh |
| Upcoming Player – Women U-21 (Asunta Lakra Award) | Sakshi Rana | Rs 10 lakh |
| Best Member Unit | Jharkhand Hockey Unit | Rs 2.5 lakh |
Gurjant Singh Retirement: Forward, age 31; cited back injury (2025) and wish to make way for juniors; will continue in domestic/club leagues including Hockey India League (HIL).
- Career – 130+ international caps; 33 goals; known for pace and finishing
- Achievements – Olympic bronze: Tokyo 2020 + Paris 2024; 2017 Asia Cup gold; 2022 Asian Games gold; 2016 Junior Hockey World Cup standout
- Awards – Arjuna Award (2021); born 26 January 1995, Khailara village, Amritsar, Punjab
Hardik Singh = two-time Olympic bronze medallist (Tokyo + Paris) | Zafar Iqbal = legendary captain; Major Dhyan Chand Award | Gurjant Singh: Arjuna Award (2021); 130+ caps; 33 goals; Olympic bronze ×2; born 26 Jan 1995, Amritsar | Best Unit: Jharkhand Hockey
💼 Business & Economy
The Reserve Bank of India (RBI) imposed monetary penalties exceeding Rs 2 crore on four entities — Union Bank of India (UBI), Central Bank of India, Bank of India (BoI), and Pine Labs Limited — for non-compliance with regulatory directions under the Banking Regulation Act, 1949.
| Entity | Penalty |
|---|---|
| Union Bank of India (UBI) | Rs 95.40 lakh |
| Central Bank of India | Rs 63.60 lakh |
| Bank of India (BoI) | Rs 58.50 lakh |
| Pine Labs Limited (fintech) | Rs 3.10 lakh |
Legal basis: Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949 | Pine Labs = fintech/payment solutions company (not a bank) | Total penalties > Rs 2 crore across 4 entities
Tech Mahindra Limited signed an MoU with IIT Bombay (Mumbai, Maharashtra) to develop a 3D Digital Twin of the Gymkhana Building at IIT Bombay as a pilot for smart campus innovation.
- Technology Stack – 3D Modelling, Digital Twin frameworks, Building Information Modeling (BIM), Spatial Data Integration, Cloud-Based Visualization, and Internet of Things (IoT)
- Outcome – Real-time infrastructure monitoring, predictive maintenance, simulation, and smart campus management; benchmark for smart campuses and future smart cities
Tech Mahindra + IIT Bombay | 3D Digital Twin → Gymkhana Building pilot | Key tech: BIM, IoT, Digital Twin, Cloud Visualization | Significance: Smart campus → smart city blueprint
31 March 2026 marks the end of Financial Year 2025-26 (FY26). From 1 April 2026, FY 2026-27 (FY27) begins with significant regulatory and policy changes.
- Income Tax Act, 2025 replaces the Income Tax Act, 1961 — effective 1 April 2026
- New Income Tax Rules, 2026 notified by CBDT (Central Board of Direct Taxes)
- Tax slabs – No change in income tax slabs for FY27
- Section 87A Rebate – Rs 60,000 rebate makes income up to Rs 12 lakh effectively tax-free under New Tax Regime
- Terminology – ‘Tax Year’ replaces ‘Financial Year’ and ‘Assessment Year’ for simplicity
- Key upcoming dates – 1 April 2026: Annual Closing of Accounts (traditional bank holiday); 3 April 2026: Good Friday (bank holiday in most states)
Income Tax Act 2025 replaces IT Act 1961 from 1 April 2026 | New Rules notified by: CBDT | Section 87A: Rs 60,000 rebate → Rs 12 lakh tax-free (New Tax Regime) | New term: ‘Tax Year’ = FY + AY combined | RBI kept agency banks open on 31 Mar for FY-end transactions
🌐 International News
UN Secretary-General António Guterres announced a dedicated task force to address trade disruptions in the Strait of Hormuz due to the ongoing West Asia conflict. The task force is led by Jorge Moreira da Silva, Executive Director of UNOPS (UN Office for Project Services).
- Composition – Representatives from UNCTAD (UN Conference on Trade and Development), IMO (International Maritime Organization), and ICC (International Chamber of Commerce)
- Mandate – Develop technical mechanisms to meet humanitarian needs in the Strait of Hormuz
- Political Engagement – UN SG’s Personal Envoy Jean Arnault to lead political engagement with member states
World’s most critical oil chokepoint | Carries ~20% of global petroleum liquids + significant LNG volumes daily | Conflict impact: crude prices rose from $70 → $100–122/barrel | India’s response: Operation Urja Suraksha | Task force leader: UNOPS head Jorge Moreira da Silva | Political lead: Jean Arnault (UN SG’s Personal Envoy)
👔 Appointments
The Ministry of Social Justice and Empowerment (MSJE) announced that Sadhvi Niranjan Jyoti assumed charge as Chairperson of the National Commission for Backward Classes (NCBC), succeeding Hansraj Gangaram Ahir (term ended 18 March 2026). Kiran Umesh Mahalle also joined as Member of NCBC.
- Sadhvi Niranjan Jyoti – Former Union MoS in Ministry of Rural Development (2019–2021) and Ministry of Consumer Affairs, Food & Public Distribution
- NCBC – National Commission for Backward Classes; statutory body established under NCBC Act, 1993; reconstituted as a constitutional body under 102nd Constitutional Amendment Act, 2018; recommends inclusion/exclusion in OBC list; HQ: New Delhi | Under: MSJE
NCBC established: NCBC Act, 1993 | Made constitutional body: 102nd Constitutional Amendment Act, 2018 | New Chairperson: Sadhvi Niranjan Jyoti | Predecessor: Hansraj Gangaram Ahir | New Member: Kiran Umesh Mahalle | Ministry: MSJE | Role: OBC list recommendations
📅 Important Days
Mahavir Jayanti 2026 is observed on 31 March 2026 (Tuesday), marking the 2624th birth anniversary of Lord Mahavira (also known as Vardhamana Mahavira), the 24th and final Tirthankara (spiritual teacher) of Jainism. The festival is also called Mahavir Janma Kalyanak and falls on Trayodashi (13th day) of Chaitra month of the Hindu calendar.
- Birth – ~599 BCE (some traditions: 615 BCE); Kundagrama, present-day Vaishali district, Bihar; parents: King Siddhartha & Queen Trishala; married Princess Yashoda; daughter: Priyadarshana; renounced the world at age 30
- Moksha – Attained at Pawapuri (Nalanda district, Bihar) at age 72 (~527 BCE); Pawapuri also called Apapapuri or Jalpuri; Jal Mandir (water temple in a lotus pond) marks the site
- Five Vows (Panca Mahavrata) – Ahimsa (Non-violence), Satya (Truth), Asteya (Non-stealing), Brahmacharya (Celibacy), Aparigraha (Non-attachment)
NSE & BSE CLOSED on 31 March 2026 for Mahavir Jayanti | Despite being a gazetted holiday, RBI directed agency banks to remain open for over-the-counter transactions to facilitate FY2025-26 year-end closing (government receipts, GST payments, Income Tax filings)
Date: 31 March 2026 | 2624th anniversary | Mahavir = 24th Tirthankara | Born: ~599 BCE, Kundagrama, Vaishali, Bihar | Moksha: Pawapuri, Nalanda, Bihar | Five Vows: A-S-A-B-A (Ahimsa, Satya, Asteya, Brahmacharya, Aparigraha) | Gazetted national holiday | RBI kept agency banks open for FY-end
📊 Index & Rankings
A consolidated reference of the critical numbers, dates, and regulatory changes associated with the close of Financial Year 2025-26 and the start of FY 2026-27 — essential for competitive exams.
| Item | Detail |
|---|---|
| FY 2025-26 ends | 31 March 2026 |
| FY 2026-27 begins | 1 April 2026 |
| New Income Tax Act | Income Tax Act, 2025 (replaces IT Act, 1961) |
| Effective from | 1 April 2026 |
| Tax-free income limit | Up to Rs 12 lakh (New Tax Regime, Sec. 87A rebate: Rs 60,000) |
| New terminology | ‘Tax Year’ replaces ‘Financial Year’ & ‘Assessment Year’ |
| NSE/BSE status (31 Mar) | CLOSED (Mahavir Jayanti) |
| Agency banks (31 Mar) | OPEN (RBI directive for FY-end transactions) |
| Good Friday (bank holiday) | 3 April 2026 |
| Strait of Hormuz share | ~20% of global petroleum liquids |
| Crude price impact (conflict) | $70 → $100–122/barrel |
This data table covers frequently tested FY-end numbers. Link IT Act 2025 to CBDT, Section 87A rebate, and the new ‘Tax Year’ concept. The Strait of Hormuz figure (20% global petroleum) and India’s Operation Urja Suraksha are high-value facts for current affairs MCQs.
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