Current Affairs For Examinations (CAFE) 2026

March 26,2026

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 News

1. UDAN Scheme Revamp 2026

Context:

The Union Cabinet has approved a revamped UDAN (Ude Desh ka Aam Nagrik) scheme with a total outlay of ₹28,840 crore, marking a major shift in India’s regional aviation policy.

Overview of UDAN Scheme

Parameter	Details
Full Form	Ude Desh Ka Aam Naagrik
Scheme Type	Regional Connectivity Scheme (RCS)
Launch Year	2016–17 (Operationalised in 2017)
Ministry	Ministry of Civil Aviation
Latest Approval	March 25, 2026
Total Outlay	₹28,840 crore
Original Outlay (2017)	₹4,500 crore (10 years)

What is UDAN Scheme?

UDAN is a flagship regional connectivity scheme launched in 2017 to:

• Make air travel affordable
• Improve connectivity to Tier-2 and Tier-3 cities
• Revive unserved and underserved airports

Key Changes in UDAN Revamp 2026

Extension of Subsidy Period

• Subsidy extended from 3 years to 5 years
• Ensures better sustainability of routes

Shift in Funding Model

• Earlier: Funded through RCS levy on airfares
• Now: Funded directly by the government exchequer

This reduces burden on passengers and ensures stable funding.

Massive Increase in Outlay

• New outlay: ₹28,840 crore
• Earlier allocation: ₹4,500 crore
• Nearly six-fold increase

Support for Airline Operations

• ₹10,043 crore allocated for:
  • Viability Gap Funding (VGF)
  • Supporting airlines on regional routes

Airport Development

• 100 new or revived airports
• Outlay: ₹12,159 crore over 8 years

Operations and Maintenance Support

• Financial support for:
  • Low-traffic airports
  • Remote locations
• Cap:
  • ₹3.06 crore per airport
  • ₹90 lakh per heliport/water aerodrome

Expansion of Last-Mile Connectivity

• Development of 200 helipads
• Cost: ₹15 crore per helipad

Aircraft Procurement

• Addition of:
  • HAL Dhruv helicopters
  • HAL Dornier aircraft

Supports regional operators like:

• Pawan Hans
• Alliance Air

Key Features of UDAN

Affordable Airfare

• Cap of ₹2,500 per hour of flight for 50% seats

Viability Gap Funding

• Government subsidy to airlines to operate on low-demand routes

Competitive Bidding

• Airlines bid for routes and receive subsidies

2. Reform Express Initiative

Source: PIB

Context:

The Reform Express Initiative is a major reform package announced by the Ministry of Railways in 2026 to modernise Indian Railways’ cargo and passenger services. It focuses on improving efficiency, transparency, and user experience.

What is Reform Express Initiative?

The Reform Express is a comprehensive policy framework aimed at fast-tracking reforms in Indian Railways by:

• Integrating advanced technology
• Improving logistics efficiency
• Enhancing passenger convenience
• Streamlining project execution

It represents a shift towards a modern, customer-centric railway system.

Organisation Involved

The initiative is led by the Ministry of Railways, Government of India.

Objectives

• Modernise railway infrastructure and services
• Improve ease of doing business for freight transport
• Enhance passenger experience and flexibility
• Reduce inefficiencies and corruption
• Promote transparency and accountability

Key Features

Specialised Cargo Logistics

Introduction of:

• Stainless steel containers
• Top-loading systems
• Hydraulic side-discharge containers

Purpose:

• Designed especially for salt transportation
• Prevents wagon corrosion and leakage

Infrastructure Quality Control

• Stricter contractor eligibility norms
• Fixed 2% bid security requirement
• Measures to prevent predatory bidding

Impact:

• Ensures durable and high-quality infrastructure

Ticketing Integrity

• Removal of around 3 crore fake IRCTC accounts
• Aadhaar-based OTP verification introduced

Purpose:

• Prevent ticket hoarding by touts
• Improve fairness in ticket booking

Passenger Flexibility

• Passengers can:
  • Change boarding station
  • Upgrade travel class
• Allowed up to 30 minutes before departure through digital systems

Automobile Transport Optimization

• Flexible wagon designs introduced
• Adapted to route-specific constraints such as:
  • Low bridges
  • Narrow tunnels

Impact:

• Increases efficiency in automobile transportation
• Boosts rail share in logistics

3. Vayu Baan Project

Source: TNIE

Context:

The Vayu Baan Project is a new initiative by the Indian Air Force (IAF) to develop India’s first helicopter-launched drone system. It represents a major step in integrating manned and unmanned combat capabilities.

What is Vayu Baan Project?

Vayu Baan (meaning “Air Arrow”) is an indigenous Air-Launched Effects (ALE) system, where a small autonomous drone is released from a moving helicopter mid-flight.

Once deployed, the drone:

• Unfolds its wings
• Activates propulsion
• Operates independently

It can function as:

• A surveillance platform
• A precision strike (kamikaze) drone

Organisation Involved

The project is led by the Directorate of Aerospace Design (DAD) under the Indian Air Force.

Objective

• Provide stand-off strike capability
• Enable helicopters to:
  • Detect targets
  • Engage targets from a safe distance
• Avoid exposure to threats like:
  • Man-Portable Air Defence Systems (MANPADS)

Key Features

Extended Range

• Can operate beyond 50 km after launch
• Extends operational reach of helicopters

Dual-Role Capability

• Performs:
  • Intelligence, Surveillance and Reconnaissance (ISR)
  • Precision strike missions

Autonomous Navigation

• Uses advanced flight control systems
• Capable of:
  • Waypoint navigation
  • Target tracking

GNSS-Denied Capability

• Functions even when GPS signals are jammed
• Suitable for electronic warfare environments

Advanced Sensors

• Equipped with:
  • Electro-optical sensors
  • Infrared sensors
• Enables:
  • Day and night operations

Loitering Capability

• Can stay airborne for around 30 minutes
• Allows:
  • Target identification
  • Optimal strike timing

4. India’s Updated Climate Targets (NDC 2035)

Context:

India has updated its climate commitments under its Nationally Determined Contributions (NDCs), setting more ambitious targets for 2035 to strengthen its clean energy transition and climate action.

What are NDCs?

Nationally Determined Contributions are voluntary climate action plans submitted by countries under the Paris Agreement to reduce emissions and combat climate change.

They include:

• Emission reduction targets
• Renewable energy goals
• Carbon sink commitments

Key Targets for 2035

Non-Fossil Fuel Capacity

India aims to achieve 60% of its installed electricity capacity from non-fossil fuel sources by 2035.

Emissions Intensity Reduction

Target to reduce emissions intensity of GDP by 47% from 2005 levels.

Carbon Sink Expansion

Increase carbon sink to 3.5–4 billion tonnes of CO₂ equivalent.

Key Principles Guiding India’s NDC

• Common but Differentiated Responsibilities (CBDR-RC)
• Equity and climate justice
• Balancing development with sustainability
• Energy security considerations

5. Biologics: Concept, Production, Features and Significance

Context:

The Union Budget 2026 highlighted the importance of biologics and biosimilars under the Biopharma SHAKTI strategy, aiming to strengthen India’s position in advanced pharmaceutical manufacturing and promote modern testing approaches.

What are Biologics?

Biologics are advanced medicines derived from living organisms such as bacteria, yeast, or animal/human cells.

Unlike conventional drugs made through chemical synthesis, biologics are:

• Large and complex molecules
• Typically proteins or antibodies
• Produced using biotechnology

They are used for treating chronic and life-threatening diseases.

Objective of Biologics

• Provide targeted therapy
• Treat diseases such as:
  • Cancer
  • Diabetes
  • Rheumatoid arthritis
• Interact precisely with:
  • Immune system
  • Cellular receptors

How Biologics are Produced

Host Cell Selection

Living cells such as bacteria, yeast, or mammalian cells are selected to produce the desired protein.

Genetic Engineering

The gene responsible for the required protein is inserted into these cells.

Large-Scale Culturing

Cells are grown in controlled environments called bioreactors.

Purification

The desired protein is extracted and purified to remove impurities.

Batch Testing

Each batch undergoes strict quality checks to ensure safety and consistency.

Key Features of Biologics

Molecular Complexity

Biologics are much larger and structurally more complex than traditional drugs.

Derived from Living Systems

Produced using living organisms rather than chemical processes.

High Specificity

They target specific cells or pathways, enabling precision medicine.

Sensitivity

Highly sensitive to temperature and light, requiring cold chain storage.

Immunogenicity

May trigger immune responses, requiring careful monitoring.

Biologics vs Conventional Drugs

• Biologics are complex, protein-based, and produced in living cells
• Conventional drugs are small molecules synthesized chemically

Banking and Finance News

1. Variable Rate Repo (VRR) Auctions

Source: BS

Context:

The Reserve Bank of India injected ₹55,837 crore into the banking system through a 3-day Variable Rate Repo (VRR) auction to ease tightening liquidity conditions.

What is Variable Rate Repo (VRR)?

A Variable Rate Repo is a monetary policy tool used by the Reserve Bank of India to inject liquidity into the banking system when there is a shortage of funds.

Unlike the fixed repo rate, the interest rate in VRR is determined through competitive bidding by banks.

How VRR Auctions Work

Announcement

The RBI announces the amount of liquidity to be injected and the duration of the repo, for example ₹1 lakh crore for 3 days.

Bidding by Banks

Commercial banks submit bids specifying:

• Amount they want to borrow
• Interest rate they are willing to pay

Allotment

The RBI accepts bids starting from the highest interest rate down to a cut-off rate.
The cut-off rate is the lowest accepted rate at which funds are allotted.

Collateral Mechanism

Banks provide government securities as collateral.
They repurchase these securities at the end of the repo period.

Objective of VRR

The main objective is liquidity management by ensuring that banks have sufficient funds.

It helps:

• Prevent spikes in short-term interest rates
• Maintain stability in the money market
• Align the call money rate with the policy repo rate

Key Features of VRR

Market-Determined Rate

Interest rate is decided through bidding, reflecting real demand and supply conditions.

Short-Term Instrument

Typically used for short durations such as 1 to 14 days.

Flexible Tool

Used to address temporary liquidity mismatches due to factors like:

• Tax outflows
• Government spending patterns
• Seasonal demand

Collateralised Lending

Loans are backed by government securities, ensuring safety.

VRR vs Fixed Rate Repo

In fixed repo, RBI lends at a predetermined rate.
In VRR, the rate is discovered through auction, making it more market-driven.

2. RBI Scraps Treasury Bill Auction (2026)

Source: TH

Context:

The Reserve Bank of India rejected all bids in a Treasury Bill (T-Bill) auction due to rising yields amid tight liquidity conditions in the banking system. This marks the second such rejection in over a year.

What are Treasury Bills (T-Bills)?

Treasury Bills are short-term government borrowing instruments issued by the Government of India.

• Maturity: Up to 364 days (91-day, 182-day, 364-day)
• Issued at a discount to face value
• No periodic interest (zero-coupon instruments)
• Repaid at face value on maturity

Participants include:

• Banks
• Primary dealers
• Institutional investors
• Retail investors

What Happened in the Auction?

• Investors demanded higher yields (0.05–0.10% higher than previous auctions)
• RBI rejected all bids instead of accepting higher borrowing costs

Why Did RBI Reject the Bids?

Tight Liquidity in Banking System

• Banks facing shortage of funds
• Caused by:
  • Advance tax payments
  • GST outflows

Rising Yield Expectations

• Investors demanded higher returns due to liquidity stress

Cost of Borrowing Consideration

• Accepting higher yields would:
  • Increase government borrowing cost
  • Signal tighter financial conditions

Understanding the Strategy

By rejecting bids, RBI:

• Avoids locking in higher interest rates
• Sends signal to markets to stabilise yield expectations
• Supports liquidity conditions indirectly

Role of Liquidity Conditions

Liquidity has turned deficit in recent weeks, meaning:

• Demand for funds > Supply of funds
• Leads to:
  • Higher short-term interest rates
  • Increased yields in money market instruments

3. SEBI Tightens Crackdown on Finfluencers and Fake Apps

Source: ET

Context:

The Securities and Exchange Board of India (SEBI) has intensified its efforts to regulate financial influencers (finfluencers) and curb rising cases of digital investment fraud, in collaboration with Google and other stakeholders.

Key Measures Announced

AI-Based Monitoring of Finfluencers

• Google to develop advanced AI tools to:
  • Track misleading financial content
  • Identify influencers violating regulations
• SEBI will:
  • Support development of these tools
  • Align them with Indian regulatory requirements

Crackdown on Misleading Content

• Over 100,000 fraudulent or misleading links removed
• Focus on:
  • Fake investment schemes
  • Unrealistic return promises

Verified App Labelling System

• SEBI, in partnership with Google, introduced verification tick marks on apps

Features:

• Applies to apps of:
  • Stock brokers
  • SEBI-registered intermediaries
• Helps users:
  • Identify genuine apps
  • Avoid fake or impersonating applications
• Currently:
  • 600+ apps verified

Strengthening Inter-Agency Coordination

• SEBI plans collaboration with:
  • Ministry of Electronics and Information Technology (MeitY)
  • Department of Telecommunications (DoT)

Objective:

• Strengthen action against:
  • Cyber fraud
  • Digital financial scams

Earlier Initiatives by SEBI

• “@valid” UPI handles for registered intermediaries
• “SEBI Check” platform for verifying payment IDs

One Liner Current Affairs

March 26, 2026

No.	Title	Current Affairs Update
1	JICA ODA Loan	Japan International Cooperation Agency signed ₹16,420 crore ODA loan agreements with the Government of India for key infrastructure projects.
2	World Meteorological Day	World Meteorological Organization observed World Meteorological Day (March 23) with the theme “Observing Today, Protecting Tomorrow.”
3	NxtOption Platform Launch	HDFC Securities launched ‘NxtOption’, an advanced F&O trading platform for retail investors.
4	SEBI Appointment	Securities and Exchange Board of India appointed K. V. Ramana Murty as Whole-Time Member.
5	World Water Day	United Nations observed World Water Day (March 22) with the theme “Water and Gender.”
6	Delhi Budget FY27	Delhi presented a ₹1.03 lakh crore FY27 Budget focusing on social and infrastructure sectors.
7	Nivesh Mitra 3.0 Launch	Yogi Adityanath launched Nivesh Mitra 3.0 to boost ease of doing business.
8	Vande Bharat Production	Rail Coach Factory Kapurthala manufactured its first Vande Bharat Express train.
9	Agnikul Rocket Engine Test	Agnikul Cosmos successfully tested the 3D-printed rocket engine ‘Agnite’.
10	Film Festival Delhi	International Film Festival Delhi was inaugurated at Bharat Mandapam by Rekha Gupta.
11	World Puppetry Day	UNIMA observed World Puppetry Day (March 21).
12	Asia Cup Archery	Asia Cup Stage-1 Archery Tournament saw Indian archers win two bronze medals.
13	National Athletics Record	Gurindervir Singh won gold in men’s 60m with a national record.
14	Shaheed Diwas	Shaheed Diwas (March 23) honoured Bhagat Singh, Shivaram Rajguru, and Sukhdev Thapar.
15	BHASHINI-PFRDA MoU	Digital India BHASHINI Division and Pension Fund Regulatory and Development Authority signed an MoU for inclusive pension services.
16	Steel Girders Portal	Union Ministers Nitin Gadkari and Ashwini Vaishnaw launched the Steel Girders Portal.
17	Gujarat UCC 2026	Gujarat passed the Uniform Civil Code (UCC), 2026, becoming the second state after Uttarakhand to implement it.