Current Affairs For Examinations (CAFE) 2026

March 24,2026

Explore the latest current affairs of 2026 with daily updates covering important developments from India and across the world. This section provides concise and reliable news on national events, international relations, economy, environment, science and technology, security, and government schemes. Carefully curated for UPSC, SSC, Banking, State PCS, and other competitive exam aspirants, these updates highlight key facts, policy changes, reports, and global developments that are frequently asked in exams. Each topic is explained in a clear and easy-to-understand format, helping readers quickly grasp the significance and exam relevance. From major government initiatives and economic reforms to environmental issues and international agreements, our current affairs coverage ensures you stay informed and exam-ready with accurate, timely, and structured information every day.

National Current Affairs

1. Lok Sabha Sends Corporate Laws (Amendment) Bill, 2026 to JPC

Source: News on Air

Context:

The Lok Sabha has referred the Corporate Laws (Amendment) Bill, 2026 to a Joint Parliamentary Committee (JPC) for detailed examination. The move was proposed by Union Finance Minister Nirmala Sitharaman and adopted through a voice vote.

About the Bill

Objective

• Amend:
  • Companies Act, 2013
  • Limited Liability Partnership Act, 2008

Purpose:

• Improve ease of doing business
• Address gaps identified by the Company Law Committee (2022 report)
• Promote ease of living for corporates

Key Proposed Changes

1. Decriminalisation of Offences

• Shift minor procedural violations:
  • From criminal liability → monetary penalties

Impact:

• Reduces compliance burden
• Encourages business-friendly regulatory environment

2. Rationalisation of Penalties

• Simplifies penalty structure
• Makes enforcement more proportionate and predictable

3. Streamlining Regulatory Processes

• Reduces procedural complexity
• Enhances efficiency in corporate governance

4. CSR-Related Clarification

• Amendment relates to calculation of net profit
• Does not dilute the mandatory 2% CSR provision

What is a Joint Parliamentary Committee (JPC)?

• A committee comprising:
  • Members from Lok Sabha and Rajya Sabha
• Function:
  • Detailed scrutiny of Bills
  • Stakeholder consultations
  • Recommendations to Parliament

2. Agri-Photovoltaics (AgriPV) in India

Source: The Hindu

Context:

Agri-photovoltaics (AgriPV) is emerging as a transformative solution to one of India’s key development challenges—balancing energy expansion with agricultural sustainability. As India targets 300 GW solar capacity by 2030 and net-zero emissions by 2070, land availability has become a critical constraint.

What is Agri-Photovoltaics (AgriPV)?

AgriPV refers to the dual-use of agricultural land for both:

• Crop cultivation
• Solar energy generation

Solar panels are installed in a way that allows farming activities to continue underneath or between them.

Key Idea:

Maximize land productivity by combining food and energy production on the same land parcel.

Why AgriPV is Important for India

1. Solving Land Use Conflict

• Solar projects require large land areas
• Agriculture already occupies over half of India’s land

AgriPV helps avoid competition between energy and food production.

2. Supporting Energy Transition

• Helps expand renewable energy without displacing agriculture
• Contributes to India’s clean energy targets

3. Enhancing Farmer Income

Farmers can:

• Sell surplus electricity
• Lease land to developers
• Participate in revenue-sharing models

This diversifies income beyond agriculture.

4. Environmental Benefits

• Reduces evapotranspiration → better water retention
• Protects crops from extreme weather (heat, hail, rainfall)
• Reduces diesel usage in agriculture

5. Strengthening Rural Economy

• Supports rural enterprises like:
  • Cold storage
  • Food processing
  • Irrigation systems

Types of AgriPV Systems

1. Elevated Systems

• Panels mounted several meters above ground
• Allows full farming activity below

2. Row-Based Systems

• Panels placed between crop rows
• Minimizes shading impact

3. Vertical Systems

• Upright panels capturing sunlight from both sides

4. Greenhouse-Integrated Systems

• Panels integrated into greenhouse structures

Insight:

Design depends on crop type, climate, and irrigation practices.

Crop Selection in AgriPV

Crop performance depends on sunlight availability.

Suitable Crops:

• Shade-tolerant crops:
  • Tomato, onion, garlic
  • Turmeric, ginger
  • Leafy vegetables, tulsi
• Region-specific examples:
  • Madhya Pradesh: tomato, turmeric
  • Karnataka & Maharashtra: ragi, jowar, grapes, banana

Proper crop-panel alignment is critical for productivity.

Business Models for AgriPV

1. Farmer-Owned Model

• Farmers install and operate systems
• Use electricity and sell surplus

2. Cooperative Model

• Farmers pool land via FPOs
• Share costs and profits

3. Developer-Led Model

• Private players lease land
• Pay rent or share revenue

4. Government-Led Model

• State agencies develop projects for local energy needs

Current Status in India

• Around 50 pilot AgriPV projects across India
• Still in experimental and early adoption stage
• Large-scale deployment yet to begin

Challenges in Scaling AgriPV

1. High Initial Costs

• Elevated structures increase capital investment

2. Lack of Standardisation

• No clear design benchmarks
• Crop responses vary across regions

3. Regulatory Uncertainty

• Issues related to:
  • Land classification
  • Tariffs
  • Grid connectivity

4. Ownership and Revenue Issues

• Conflicts between farmers and developers
• Unclear long-term agreements

5. Risk to Crop Yield

• Poor design may reduce agricultural productivity

3. Stealth Frigate Taragiri (F41)

Source: TH

Context:

The Indian Navy is set to commission the stealth frigate Taragiri (F41) on 03 April 2026 at Visakhapatnam. This marks a significant step in India’s efforts towards Aatmanirbhar Bharat in defence manufacturing and the strengthening of indigenous naval capabilities under Project 17A.

What is Stealth Frigate Taragiri?

Taragiri (F41) is a stealth guided-missile frigate belonging to the Project 17A class, designed for multi-dimensional naval warfare.

Capabilities:

• Surface warfare
• Air defence
• Anti-submarine warfare (ASW)

Builder:

• Mazagon Dock Shipbuilders Limited (MDL), Mumbai

Indigenous Content:

• Over 75% indigenous components
• Involvement of 200+ MSMEs

Objectives Behind Taragiri

1. Strengthening Maritime Combat Capability

• Enhances India’s ability to operate in blue-water environments
• Improves readiness against multi-domain threats

2. Promoting Aatmanirbhar Bharat in Defence

• Reduces dependence on imports
• Encourages domestic defence manufacturing ecosystem

Key Features of Taragiri (F41)

1. Stealth Capability

• Designed with low Radar Cross Section (RCS)
• Reduces detection by enemy radar systems

Significance:

• Enables surprise attacks
• Enhances survivability in hostile waters

2. Displacement (~6,670 tonnes)

• Large size allows:
  • Advanced weapons systems
  • High fuel capacity
  • Extended operational range

Advantage:

Suitable for long-duration deployments in distant maritime zones

3. Propulsion System (CODOG)

• Combined Diesel or Gas (CODOG) propulsion:
  • Diesel engines for efficient cruising
  • Gas turbines for high-speed operations

Benefit:

• Balance between fuel efficiency and rapid response capability

4. Advanced Weapon Systems

• Supersonic anti-ship missiles
• Air defence missile systems
• Anti-submarine warfare (ASW) capabilities

Outcome:

• Effective engagement of:
  • Surface targets
  • Aerial threats
  • Sub-surface threats

5. Combat Management System

• Integrated platform combining:
  • Sensors
  • Weapons
  • Communication systems

Advantage:

• Real-time situational awareness
• Faster and coordinated decision-making

6. Operational Flexibility

• Capable of performing:
  • Naval warfare operations
  • Escort duties
  • Maritime surveillance
  • Humanitarian Assistance and Disaster Relief (HADR)

About Project 17A

Project 17A is an advanced frigate construction programme of the Indian Navy.

Key Aspects:

• Follow-on to Project 17 (Shivalik-class)
• Focus on:
  • Stealth design
  • Advanced automation
  • Indigenous systems

Shipyards Involved:

• Mazagon Dock Shipbuilders Limited (MDL), Mumbai
• Garden Reach Shipbuilders & Engineers (GRSE), Kolkata

4. Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0)

Source: Mint

Context:

The Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0), launched in March 2026, is a targeted financial intervention by the Government of India to revive and strengthen the microfinance sector. With a guarantee corpus of ₹20,000 crore, the scheme aims to ensure continuous credit flow to small borrowers and vulnerable sections.

What is CGSMFI-2.0?

CGSMFI-2.0 is a credit guarantee framework under which the government provides a guarantee cover to lending institutions against defaults on loans extended to:

• NBFC-MFIs (Non-Banking Financial Company–Microfinance Institutions)
• Other Microfinance Institutions (MFIs)

Core Idea:

Reduce risk for banks and financial institutions so that they continue lending to high-risk but critical segments of the economy.

Institutional Framework

1. Department of Financial Services (DFS)

• Nodal ministry responsible for policy implementation

2. National Credit Guarantee Trustee Company Limited (NCGTC)

• Implements and manages the guarantee mechanism
• Provides risk cover to lending institutions

Objectives of CGSMFI-2.0

1. Strengthen Liquidity in Microfinance Sector

• Support NBFC-MFIs facing funding constraints
• Ensure uninterrupted credit flow

2. Promote Financial Inclusion

• Expand access to credit for:
  • Rural households
  • Low-income groups
  • Informal sector borrowers

3. Support Economic Stability

• Enable small borrowers to sustain livelihoods
• Reduce dependence on informal credit sources

Key Features of CGSMFI-2.0

1. Tiered Guarantee Coverage

• 80% guarantee for small MFIs
• 75% guarantee for medium MFIs
• 70% guarantee for large MFIs

Significance:

• Prioritizes smaller institutions
• Encourages lending to underserved areas

2. Interest Rate Regulation

For Banks Lending to MFIs:

• Interest capped at EBLR/MCLR + 2%

For MFIs Lending to Borrowers:

• Must charge rates 1% lower than their average lending rate of the last six months

Impact:

• Ensures affordable credit for end borrowers
• Prevents excessive interest rates

3. Low Guarantee Fee

• Nominal fee of 0.50% per annum

Benefit:

• Keeps the scheme cost-effective for lenders

4. Defined Timeline and Scale

• Valid until June 30, 2026 or
• Until guarantee coverage reaches ₹20,000 crore

5. Targeted Beneficiaries

• Focus on small borrowers as defined by RBI
• Includes:
  • Rural households
  • Women borrowers
  • Informal sector participants

5. Bharat Electricity Summit 2026 & CGSMFI-2.0

Source: PIB

Context:

India witnessed two significant developments in March 2026—the Bharat Electricity Summit (BES 2026) and the launch of CGSMFI-2.0, both reflecting the government’s focus on energy transition and financial inclusion.

Bharat Electricity Summit 2026 (BES 2026)

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

Key Details

• Inaugurated by: Union Minister Manohar Lal (Ministry of Power)
• Organiser: Bureau of Energy Efficiency (BEE) under the Ministry of Power
• Theme: “Electrifying Growth. Empowering Sustainability. Connecting Globally”

Major Highlights

1. Launch of Indian Carbon Market Portal

• Portal: indiancarbonmarket.gov.in
• Acts as a central platform for implementation and administration of carbon markets in India

2. Global Participation and Diplomacy

• Bilateral engagements with countries such as:
  • Malawi
  • Tajikistan
  • Mauritius
  • Kyrgyzstan
  • Russia

3. Focus on Energy Transition

• Emphasis on:
  • Clean energy adoption
  • Power sector reforms
  • Sustainable development

4. Future Roadmap

• Next edition (BES 2028) to be held in Gandhinagar, Gujarat

6. Exercise Kakadu 2026

Source: ET

Context:

In March 2026, the Indian Navy (IN) participated in Exercise Kakadu 2026, a major multilateral naval exercise hosted by Australia. The INS Nilgiri took part in the sea phase as part of India’s deployment to the Western Pacific, reinforcing maritime cooperation in the Indo-Pacific region.

What is Exercise Kakadu?

Exercise Kakadu is a biennial multilateral naval exercise hosted by the Royal Australian Navy (RAN).

Purpose:

• Enhance maritime cooperation and interoperability
• Promote regional security and stability
• Strengthen partnerships among Indo-Pacific navies

Exercise Kakadu 2026: Key Highlights

1. Scale and Participation

• 17th edition of the exercise
• Participation from:
  • 19+ countries
  • Around 6,000 personnel

Area of Operations:

• Spanned a vast region from:
  • Jervis Bay to
  • Darwin, Australia

2. Fleet Review

• Kakadu Fleet Review held at:
  • Sydney Harbour, New South Wales
• Date: 21 March 2026

India’s Participation

1. Deployment of INS Nilgiri

• INS Nilgiri, a frontline Indian Navy frigate, represented India
• Participated in:
  • Coordinated naval manoeuvres
  • Multinational maritime exercises

2. Joint Operations

INS Nilgiri operated alongside warships from:

• Malaysia
• Philippines
• Thailand

3. Achievement

• The crew of INS Nilgiri won the Kakadu Shield Trophy
• Awarded during sporting events in the harbour phase at Darwin

International Affairs

1. Global Terrorism Index 2026

Source: Mint

Context:

The Global Terrorism Index (GTI) 2026, released by the Institute for Economics and Peace (IEP) in March 2026, highlights major shifts in the global security landscape. The latest report shows Pakistan as the most affected country by terrorism, while India ranks 13th.

What is the Global Terrorism Index (GTI)?

The Global Terrorism Index (GTI) is an annual report that measures the impact of terrorism across countries worldwide.

Methodology:

• Uses a composite score (0 to 10)
  • 0 = No impact
  • 10 = Highest impact
• Based on indicators such as:
  • Number of terrorist incidents
  • Fatalities
  • Injuries
  • Property damage

Key Highlights of GTI 2026

1. Pakistan Ranked Most Affected Country

• Rank: 1st
• Score: 8.574
• Deaths: 1,139
• Incidents: 1,045

2. India’s Position

• Rank: 13th
• Score: 6.428

Top 5 Most Affected Countries (GTI 2026)

1. Pakistan
2. Burkina Faso
3. Niger
4. Nigeria
5. Mali

Trend:

• High concentration of terrorism in:
  • South Asia
  • Sub-Saharan Africa (Sahel region)

Global Terrorism Trends (2025 Data)

1. Increase in Incidents Over Time

• Terrorist incidents in 2025 were nearly six times higher than in 2020

2. Decline in Recent Incidents

• Incidents decreased by 22% to 2,944
• Lowest levels recorded since 2007

3. Decline in Deaths

• Terrorism-related deaths reduced by 28% to 5,582

Interpretation:

• While long-term trend shows increase, recent decline indicates partial improvement

Key Observations

1. Shift in Terrorism Epicentres

• Increasing concentration in fragile and conflict-prone regions
• Sahel region emerging as a major hotspot

2. Persistence of Regional Threats

• South Asia continues to face cross-border and internal security challenges

3. Changing Nature of Terrorism

• More localized and decentralized attacks
• Increasing role of non-state actors

2. Iran–Pakistan–India (IPI) Pipeline and TAPI Pipeline

Source: BS

Context:

The ongoing instability in West Asia has once again exposed India’s high dependence on imported energy, particularly natural gas. This has revived discussions around long-pending transnational pipeline projects such as the Iran–Pakistan–India (IPI) and Turkmenistan–Afghanistan–Pakistan–India (TAPI) pipelines.

Iran–Pakistan–India (IPI) Pipeline

The Iran–Pakistan–India (IPI) Pipeline, popularly known as the “Peace Pipeline”, is a proposed 2,775 km natural gas pipeline aimed at transporting gas from Iran’s South Pars field to Pakistan and India.

Timeline:

• Conceptualised in the 1990s
• Major diplomatic progress during 2004–2005

Objectives of IPI

• Provide a cost-effective alternative to LNG imports
• Ensure stable energy supply to India and Pakistan
• Promote regional cooperation and peace through economic interdependence

Key Features of IPI Pipeline

1. Source

• South Pars gas field (Iran) — among the largest natural gas reserves globally

2. Capacity

• Around 60 mmscmd each for:
  • India
  • Pakistan

3. Economic Advantage

• Lower transportation cost than LNG
• Reduced dependence on shipping routes

4. Strategic Significance

• Potential to enhance regional integration
• Intended to act as a tool of energy diplomacy

Why Did India Exit the IPI Project?

India withdrew from the project in 2007 due to:

1. Geopolitical Constraints

• U.S. sanctions on Iran (including CAATSA-related pressures)

2. Security Concerns

• Pipeline route passing through Balochistan (Pakistan)
• Risk of sabotage and instability

3. Pricing and Transit Issues

• Disagreements over gas pricing and transit fees

Current Status of IPI

• Dormant / Effectively stalled
• Limited bilateral progress between Iran and Pakistan

Turkmenistan–Afghanistan–Pakistan–India (TAPI) Pipeline

The TAPI Pipeline is a 1,814 km transnational pipeline project designed to transport natural gas from Turkmenistan to India via Afghanistan and Pakistan.

Timeline:

• Concept originated in the 1990s
• India signed agreement in 2010

Objectives of TAPI

• Diversify India’s energy sources
• Reduce dependence on West Asia
• Enhance regional economic integration

Key Features of TAPI Pipeline

1. Source

• Galkynysh gas field (Turkmenistan)
• One of the world’s largest gas reserves

2. Capacity

• Around 33 billion cubic meters (bcm) annually

3. Institutional Support

• Backed by the Asian Development Bank (ADB)
• Supported by the U.S. as part of regional connectivity strategy

4. Strategic Role

• Provides an alternative energy corridor
• Supports Afghanistan through transit revenues

Current Status of TAPI

• Partially active but largely stalled

Progress:

• Turkmenistan–Afghanistan section inaugurated in October 2025

IPI vs TAPI

Feature	IPI Pipeline	TAPI Pipeline
Length	2,775 km	1,814 km
Source	Iran (South Pars)	Turkmenistan (Galkynysh)
Capacity	~60 mmscmd each	33 bcm annually
Key Risk Area	Balochistan (Pakistan)	Afghanistan instability
International Support	Limited	ADB and U.S. backing
Status	Dormant	Partially active / stalled

Banking and Finance News

1. SWAMIH Investment Fund II

Source: ET

Context:

The Government of India is set to launch SWAMIH Investment Fund II, a ₹15,000 crore fund aimed at reviving stalled housing projects and providing relief to distressed homebuyers. The announcement was made by Finance Minister Nirmala Sitharaman in Parliament, highlighting the government’s continued focus on the real estate sector.

What is SWAMIH Fund?

SWAMIH stands for Special Window for Affordable and Mid-Income Housing.

It is a government-backed investment fund designed to provide last-mile funding to stalled housing projects, ensuring their completion and delivery to homebuyers.

SWAMIH Investment Fund II

1. Fund Size

• Total corpus: ₹15,000 crore

2. Objective

• Complete around 1 lakh (100,000) stalled housing units
• Provide relief to:
  • Homebuyers with delayed or stuck projects
  • Developers facing funding shortages

3. Target Segment

• Focus on:
  • Affordable housing projects
  • Mid-income housing projects

4. Implementation Status

• Currently under process of formal launch
• Expected to follow a structured investment and monitoring framework

Background: SWAMIH Fund I

Launch

• Introduced in 2019

Management

• Managed by a State Bank of India (SBI)-led entity

Purpose

• Provide last-mile funding to incomplete housing projects

Need for SWAMIH Fund II

1. Large Number of Stalled Projects

• Many housing projects remain incomplete due to:
  • Liquidity crisis
  • Developer insolvency
  • Regulatory delays

2. Homebuyer Distress

• Buyers face:
  • Delayed possession
  • Financial burden (EMIs + rent)

3. Real Estate Sector Stress

• NBFC crisis and funding constraints have impacted project completion

2. Amendments to Foreign Contribution (Regulation) Act (FCRA), 2010

Source: The Hindu

Context:

The Union Government is set to introduce amendments to the Foreign Contribution (Regulation) Act (FCRA), 2010 during the ongoing Parliament session. The proposed changes aim to strengthen regulation, transparency, and accountability of foreign-funded NGOs in India.

What is FCRA?

The Foreign Contribution (Regulation) Act, 2010 regulates:

• Acceptance of foreign contributions by individuals and organisations
• Utilisation of foreign funds by NGOs

Objective:

Ensure that foreign funding is not used for activities detrimental to national interest.

Key Proposed Amendments

1. Appointment of “Designated Authority”

• A new Designated Authority will be empowered to:
  • Take over management of NGOs
  • Manage operations
  • Dispose of assets

Applicable When:

• NGO registration is:
  • Suspended
  • Cancelled
  • Not renewed

2. Expansion of “Key Functionary” Definition

The term “key functionary” will now include:

• Directors
• Partners
• Trustees
• Karta of Hindu Undivided Family (HUF)
• Members of governing bodies or committees
• Any person controlling NGO operations

Impact:

• Broadens accountability to include all decision-makers

3. Liability of Key Functionaries

• Key individuals will be held legally accountable for violations

Implication:

• Enhances personal responsibility
• Improves compliance and governance standards

4. Prior Approval for Investigation

• Law enforcement agencies and State governments must:
  • Obtain Central Government approval before initiating investigations

Concerns:

• May affect:
  • Federal balance
  • Autonomy of investigative agencies

5. Fixed Timelines for Fund Utilisation

• Introduction of time-bound utilisation of foreign funds

Earlier:

• No strict deadlines

Benefit:

• Prevents fund hoarding
• Ensures efficient and timely usage

6. Reduction in Punishment

• Maximum imprisonment reduced:
  • From 5 years to 1 year

Objective:

• Rationalise penalties
• Reduce severity of punishment

Current Scenario of FCRA in India

• Around 16,000 NGOs registered under FCRA
• Annual foreign funding approximately ₹22,000 crore

3. Net FDI Negative for Fifth Straight Month

Source: The Hindu

Context:

India’s Net Foreign Direct Investment (FDI) remained negative for the fifth consecutive month in January 2026, as per data released by the Reserve Bank of India. This trend reflects higher outflows than inflows, signalling emerging pressures in the external sector.

What is Net FDI?

Net FDI = Gross FDI Inflows – FDI Outflows

• Positive Net FDI: More foreign investment coming into India
• Negative Net FDI: More capital leaving India than entering

Key Data Highlights

1. Net FDI Position

• Net FDI: –$1.4 billion
• Fifth consecutive month of negative inflows
• Highest outflow in the last three months

2. FDI Outflows

(a) Outward FDI by Indian Companies

• Increased by 5.4% to $2.1 billion (YoY)

Major Destinations:

• USA
• Singapore
• UK
• UAE

(b) Repatriation and Disinvestment

• Increased sharply by 97.3% to $4.9 billion

Indicates:

• Foreign companies:
  • Withdrawing profits
  • Reducing or exiting investments

Key Reasons for Negative Net FDI

1. Rising Repatriation

• Significant increase in:
  • Profit repatriation
  • Capital withdrawal

2. Decline in Fresh Inflows

• Moderation in global investment flows

Causes:

• Global economic slowdown
• Geopolitical tensions
• Uncertainty in international markets

3. Increase in Outward Investments

• Indian companies investing abroad
• Expansion into global markets

Economic Implications

1. Pressure on External Sector

• Negative FDI affects:
  • Balance of Payments (BoP)
  • Capital account stability

2. Forex Reserve Concerns

• Lower inflows reduce foreign exchange accumulation

3. Currency Depreciation Risk

• Reduced dollar inflows may:
  • Put pressure on the Indian Rupee
  • Increase volatility

4. Investment Climate Signals

• Persistent outflows may indicate:
  • Profit booking by foreign investors
  • Cautious investment sentiment

4. SEBI Revamps Conflict of Interest Framework

Source: IE

Context:

The Securities and Exchange Board of India (SEBI) has approved a comprehensive overhaul of its conflict of interest framework for top officials, along with measures to enhance the ease of doing business in capital markets. This reform aims to strengthen transparency, accountability, and institutional integrity.

What is the Reform About?

SEBI has introduced a stricter conflict-of-interest and disclosure framework applicable to:

• Chairman
• Whole-Time Members (WTMs)
• Senior officials

Objective:

• Prevent misuse of official position
• Ensure impartial regulatory decisions
• Align with global governance standards

Key Features of the New Framework

1. Restrictions on Investments and Trading

• Senior officials:
  • Cannot trade in equities or equity-related instruments
  • Allowed to invest only in mutual funds or regulated pooled instruments
• Upon appointment:
  • Must liquidate or place restrictions on existing investments

2. Disclosure of Assets

• Mandatory disclosure of:
  • Immovable assets (public disclosure)
  • Financial assets and liabilities (internal disclosure)

3. Classification as “Insiders”

• Chairman and senior officials classified as insiders

4. Recusal Mechanism

• Officials must recuse themselves from decisions involving:
  • Personal financial interests
  • Potential conflicts
• Digital system to record recusals

5. Strengthened Ethics Framework

• Establishment of:
  • Office of Ethics and Compliance
  • Whistleblower mechanisms

Ease of Doing Business Measures

Net Settlement for Foreign Portfolio Investors (FPIs)

• Allows netting of transactions in the cash market

Benefits:

• Reduces capital requirements
• Lowers transaction costs
• Improves market efficiency

Background

• Reform based on recommendations of a High-Level Committee (2025)
• Triggered by concerns over conflict of interest in regulatory functioning
• Aimed at creating a uniform and enforceable governance framework

5. RBI in Talks with Global Central Banks on CBDC

Source: Business Standard

Context:

The Reserve Bank of India (RBI) is in discussions with four to five central banks from Asia and Europe to develop cross-border Central Bank Digital Currency (CBDC) transaction systems. This initiative aims to transform global payments by making them faster, cheaper, and more efficient.

What is CBDC?

A Central Bank Digital Currency (CBDC) is a digital form of sovereign currency issued by a central bank.

Key Characteristics:

• Legal tender like paper currency
• Issued and backed by the central bank
• Exchangeable at par with physical currency
• Appears as a liability on the central bank’s balance sheet

RBI’s Cross-Border CBDC Initiative

1. Objective

• Develop CBDC transaction rails for cross-border payments
• Cover both:
  • Wholesale transactions (interbank)
  • Retail transactions (individual users)

2. Participating Countries

• Discussions with:
  • Asian economies
  • Advanced European economies

Why is Cross-Border CBDC Important?

1. Reduction in Remittance Costs

• Eliminates intermediaries
• Reduces transaction fees

Relevance for India:

• India is one of the largest recipients of remittances globally

2. Faster Transactions

• Enables near real-time settlement
• Reduces delays in international payments

3. Simplified Compliance

• Reduces multiple layers of checks
• Improves efficiency in cross-border transactions

India’s Remittance Landscape

• Over $107 billion remittances received in FY26 (so far)
• $132 billion in FY25 (record high)
• Major sources:
  • United States (~27.7%)
  • UAE (~19.2%)
  • UK (~10.8%)
  • Saudi Arabia
  • Singapore

CBDC vs Stablecoins

RBI’s Position:

• Strong preference for CBDCs over private cryptocurrencies and stablecoins

Reasons:

• Ensures monetary sovereignty
• Maintains trust in currency
• Enhances financial stability

Advantages of CBDC:

• Backed by central bank credibility
• Safer than private digital currencies
• Supports:
  • Instant settlement
  • Programmability
  • Efficient payments

One Liner Current Affairs

March 24, 2026

S. No.	Topic	Key Highlights
1	Bharat Electricity Summit 2026	First edition held at Yashobhoomi (March 19–22, 2026); inaugurated by Manohar Lal Khattar; theme: Electrifying Growth, Empowering Sustainability; Indian Carbon Market Portal launched
2	World Tuberculosis Day 2026	Observed on March 24; highlights TB awareness and eradication efforts; emphasized by Droupadi Murmu
3	LRS Remittances Decline	Outward remittances under Reserve Bank of India fell 3.2% YoY to $2.68 billion in Jan 2026
4	Indian Navy in Kakadu 2026	Indian Navy participated in multinational exercise in Australia; INS Nilgiri won Kakadu Shield
5	CGSMFI 2.0 Launch	Govt launched Credit Guarantee Scheme for MFIs 2.0; benefits ~36 lakh borrowers; implemented via National Credit Guarantee Trustee Company
6	Himachal Pradesh Budget 2026-27	₹54,928 crore budget presented by Sukhvinder Singh Sukhu; focus on green energy & welfare
7	Rare Earth Magnet Plant	Pilot Nd-Fe-B plant set up at ARCI under DST to boost EV & renewable manufacturing
8	North Korea Leadership	Kim Jong-un reappointed as President of State Affairs
9	Theatre Day for Children	Observed March 20; initiated by ASSITEJ International promoting child rights in arts
10	India–Bhutan Postal MoU	Agreement enables UPU–UPI cross-border remittance between India Post and Bhutan Post
11	RRU–SSB MoU	Rashtriya Raksha University partnered with SSB Academy for security training
12	Datta Meghe निधन	Datta Meghe (89), veteran BJP leader and former MP, passed away
13	Global Network Meeting	India hosted 12th Steering Committee of Global Operational Network under UNCAC; ED Director Rahul Navin emphasized asset recovery
14	South Indian Bank Appointment	South Indian Bank appointed Jose Joseph Kattoor as Chairman
15	Geospatial MoU in Forestry	Forest Survey of India signed MoU with BISAG-N for AI/remote sensing
16	World Down Syndrome Day	Observed March 21; theme: Together Against Loneliness promoting inclusion
17	Railways Reform Initiative	Ashwini Vaishnaw launched 52 reforms in 52 weeks initiative
18	Racial Discrimination Day	March 21 observed by United Nations marking ICERD anniversary
19	Kotak Stake Sale	Kotak Mahindra Bank to divest 30.99% stake in Infina Finance
20	City Union Bank Brand Ambassador	City Union Bank appointed Ravindra Jadeja as brand ambassador
21	S. Thyagarajan निधन	S. Thyagarajan, veteran journalist of The Hindu, passed away at 85