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Daily Current Affairs: 7 April 2026

Current affairs of 7 April 2026: Project Chetak: BRO’s Western Border Road Unit Turns 47; Stagflation Fears Rise After 2026 Gulf Energy Shock; Tar Balls Management Rules 2026: Draft Coastal Framework, and 17 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)April 2026
20 TOPICSDaily CurrentAffairs7 April 2026In focus: Project Chetak: BRO’s Western Border…safalsetu.com

In this issue: 20 topics

National Affairs

  1. 16th Finance Commission: Local Body Grants and State Autonomy
  2. Bharat Tribes Fest 2026: RISA brand and Rs 4.5 crore sales
  3. TV Rating Policy 2026: New TRP Norms Notified
  4. Mission Karmayogi Training Launched for Scientific Leaders
  5. National Maritime Day 2026: 63rd Edition on 5 April
  6. Prevention of Blindness Week 2026: NSPB-I and purpose

Government Schemes

  1. ATL Sarthi and Mentor India Academy Launched in Telangana

Banking & Finance

  1. Business Correspondent Framework: RBI Draft Two-Tier Model
  2. SEBI Independent Directors Push: Board Independence Drive
  3. Shirpur Merchants’ Co-operative Bank: RBI Licence Cancelled

Economy

  1. Stagflation Fears Rise After 2026 Gulf Energy Shock
  2. ECB Framework Reset: RBI’s Market-Based Rules
  3. Moody’s Cuts India FY27 Growth Forecast to 6%

International Affairs

  1. Manturov’s India Visit: IRIGC-TEC Talks With Jaishankar
  2. International Day of Sport for Development and Peace 2026

Agriculture & Rural

  1. Porcupine Threat to Kashmir Saffron: Pampore Corm Damage

Environment & Ecology

  1. Tar Balls Management Rules 2026: Draft Coastal Framework

Defence & Security

  1. Project Chetak: BRO’s Western Border Road Unit Turns 47

Awards & Persons

  1. Blanka Vlašić: Ambassador of TCS World 10K Bengaluru
  2. ‘A Road Well Travelled’: R.K. Raghavan Memoir Released

National Affairs

Polity & Governance

1. 16th Finance Commission: Local Body Grants and State Autonomy

  • Debate on the 16th Finance Commission centres on earmarking funds directly for panchayats and municipalities.
  • States say stricter conditions bypass them, since local government is a State subject in List II.
  • Many local body grants are tied to areas such as sanitation, water supply and health.
  • Articles 243-I and 243-Y, added by the 73rd and 74th Amendments, root the Commission's local body mandate.
Full notes and 3 MCQs ›

Government Schemes

Banking & Finance

Banking & Finance

8. Business Correspondent Framework: RBI Draft Two-Tier Model

  • RBI's draft circular proposes effect from July 1, 2026, with existing entities moving by September 30, 2026.
  • Business Correspondents will be split into BC-Banking Outlets and BC-Banking Touchpoints; the Business Facilitator model ends.
  • A unit counts as a branch only if fixed, staffed by bank employees, open 4 hours a day and 5 days a week.
  • ATMs, cash deposit machines and kiosks are not banking outlets.
Full notes and 3 MCQs ›
Economy

9. SEBI Independent Directors Push: Board Independence Drive

  • SEBI plans joint training of more independent directors with companies, universities and professional institutes.
  • The push followed Atanu Chakraborty's March 2026 resignation as HDFC Bank's non-executive chairman.
  • SEBI wants directors to voice and record concerns clearly in board meetings instead of leaving ambiguously.
  • The SEBI chief flagged three gaps: form vs perspective, availability vs interrogation, constitution vs effectiveness.
Full notes and 3 MCQs ›
Banking & Finance

10. Shirpur Merchants’ Co-operative Bank: RBI Licence Cancelled

  • RBI cancelled the licence of The Shirpur Merchants' Co-operative Bank, Maharashtra; operations ceased after business on April 6, 2026.
  • Reason: inadequate capital and weak earning prospects, leaving the bank unable to repay depositors fully.
  • DICGC insures deposits up to ₹5 lakh; about 99.7% of depositors can recover their full deposits.
  • DICGC had already paid ₹48.95 crore by January 31, 2026.
Full notes and 3 MCQs ›

Economy

Economy

11. Stagflation Fears Rise After 2026 Gulf Energy Shock

  • The April 2026 US-Israel and Iran conflict caused an energy supply shock, raising fears of 1970s-style stagflation.
  • Stagflation means stagnant growth, high inflation and high unemployment together; the term was coined by British politician Iain Macleod.
  • A negative supply shock shifts the aggregate supply curve left: higher prices, lower output.
  • Control relies on supply-side reforms, energy diversification, targeted fiscal support and carefully balanced interest rates.
Full notes and 3 MCQs ›
Economy

12. ECB Framework Reset: RBI’s Market-Based Rules

  • In February 2026 the RBI moved the ECB framework from tight control to a market-oriented design.
  • Automatic-route limit rises from $750 million a year to $1 billion or 300% of net worth, whichever is higher.
  • The all-in-cost ceiling on foreign loans has been removed.
  • Hedge cover reached roughly two-thirds of ECBs outstanding in September 2024, against 55% two years before.
Full notes and 3 MCQs ›

International Affairs

Agriculture & Rural

Agriculture & Rural Development

16. Porcupine Threat to Kashmir Saffron: Pampore Corm Damage

  • Indian Crested Porcupines are digging up and eating saffron corms in the Pampore highlands of Kashmir.
  • Because corms are perennial, a corm that is eaten cannot regrow, hurting future flowering and farmer income.
  • The Indian Crested Porcupine (Hystrix indica) is India's largest rodent, weighs 11-18 kg and is IUCN Least Concern.
  • Kashmir saffron grows in Karewa soil, has a GI tag, and needs 150,000-175,000 flowers per kg.
Full notes and 3 MCQs ›

Environment & Ecology

Environment & Ecology

17. Tar Balls Management Rules 2026: Draft Coastal Framework

  • MoEFCC released the Draft Tar Balls Management Rules, 2026 to regulate detection, cleaning and disposal of tar balls.
  • The rules aim to protect India's 7,500 km coastline, especially the Western Coast from Gujarat to Goa.
  • Tar balls are weathered crude oil remnants, rich in hydrocarbons and asphaltenes, that resist biodegradation.
  • They peak between April and September because south-westerly winds and currents push debris from the mid-Arabian Sea.
Full notes and 3 MCQs ›

Defence & Security

Awards & Persons

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