Skip to content
Free updates Login

Daily Current Affairs: 4 & 5 March 2026

Current affairs of 4 & 5 March 2026: Strait of Hormuz: Oil Chokepoint Explained; 16th Finance Commission: Earmarked Grants for Local Bodies; NMMS App Facial Recognition Glitches Hit MGNREGS Workers, and 25 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)March 2026
28 TOPICSDaily CurrentAffairs4 & 5 March 2026In focus: Strait of Hormuz: Oil Chokepoint…safalsetu.com

In this issue: 28 topics

National Affairs

  1. 16th Finance Commission: Local Body Grants and State Autonomy
  2. ASMITA Athletics League: Nationwide Women’s Event at 250 Venues
  3. KP Unnikrishnan, Former Union Minister, Dies
  4. Vice President Unveils 16 Books on Tamil Heritage
  5. Mahatma: A Great Communicator book released in Delhi
  6. Civil Accounts Day 2026: ICAS history and role

Government Schemes

  1. NMMS App Facial Recognition Glitches Hit MGNREGS Workers
  2. BEE 25th Foundation Day: RCO Portal and Star Label App
  3. Saksham Skill Census: Mumbai’s AI-Based Youth Survey

Banking & Finance

  1. IRDAI Proposes Ind AS Shift for Insurers: Key Points
  2. SEBI Overlap Cap Nudges Mutual Funds Towards Passive
  3. Bank liquidity stress from maturing CDs in March quarter
  4. RBI approves SBI Mutual Fund stake in Bandhan, RBL Bank
  5. India INX GA and HSBC IBU Open Overseas Investing

Economy

  1. RBI-Bank of Japan USD 75 Billion Currency Swap Renewed

International Affairs

  1. Strait of Hormuz: Oil Chokepoint Between Iran and Oman
  2. WTO MC14 Cameroon: India’s Proposals and Conference Basics
  3. NITI Aayog-JICA Phase II Pact on SDGs in Aspirational Districts

Agriculture & Rural

  1. New Seed Act 2026 and Revised Pesticide Act 2026 Explained
  2. Karbi Anglong Ginger: First GI-Tagged Export Consignment to London

Science & Technology

  1. Survey of India, Kerala Digital University Sign Geospatial MoU
  2. MeitY 30 kW Integrated EV Drive System: Quick Notes

Environment & Ecology

  1. Ruddy Shelduck: Mudh Village’s Community Conservation
  2. Carbon Credit Trading Scheme Likely Mandatory for Steel Sector
  3. Dusky Eagle-Owl Spotted Again in Uttarakhand’s Terai West

Defence & Security

  1. Shtil Naval Missile System: ₹5,083 Crore Navy Deal Explained
  2. Operation Sankalp: Navy’s Gulf Security Mission

Awards & Persons

  1. Safeena Husain in TIME Women of the Year 2026

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 ›
History, Art & Culture

4. Vice President Unveils 16 Books on Tamil Heritage

  • The Vice President released a set of 16 books centred on Tamil scholars and cultural heritage.
  • The Publications Division of the Ministry of Information and Broadcasting brought out the titles.
  • Most books are in Tamil and cover themes such as Rameswaram, Sri Ramanuja, Tamil temple architecture and ancient traditions.
  • The effort seeks to preserve and promote India's cultural and literary heritage.
Full notes and 3 MCQs ›

Government Schemes

Banking & Finance

Banking & Finance

10. IRDAI Proposes Ind AS Shift for Insurers: Key Points

  • IRDAI floated a consultation paper to move insurers from IGAAP to Ind AS, aligned with IFRS.
  • In year one, insurers would file Ind AS statements plus IGAAP statements as special filings, with an extra IRDAI-empanelled auditor check.
  • Ind AS 117 (IFRS 17 aligned) requires annual cohorts; IRDAI refused insurers' request for exemption.
  • Retrospective data: 10 years in FY27, 15 in FY28, 20 in FY29.
Full notes and 3 MCQs ›

Economy

International Affairs

Agriculture & Rural

Polity & Governance

19. New Seed Act 2026 and Revised Pesticide Act 2026 Explained

  • Agriculture Minister Shivraj Singh Chouhan announced the New Seed Act 2026 and Revised Pesticide Act 2026 at Mussoorie on 1 March 2026.
  • Seed firms must register before selling; packets will bear unique QR codes showing variety, origin, certification and producer.
  • The maximum penalty for seed offences rises to ₹30 lakh, and jail can follow deliberate offences.
  • The Revised Pesticide Act will replace the Insecticides Act, 1968.
Full notes and 3 MCQs ›

Science & Technology

Government Schemes

22. MeitY 30 kW Integrated EV Drive System: Quick Notes

  • MeitY launched an indigenous 30 kW integrated drive system for electric vehicles.
  • The unit merges the motor and inverter and uses an Interior Permanent Magnet Synchronous Motor design.
  • Silicon Carbide MOSFET modules give higher efficiency and better thermal stability.
  • It targets lower import dependence in EV powertrains and supports domestic manufacturing under the PLI scheme.
Full notes and 3 MCQs ›

Environment & Ecology

Economy

24. Carbon Credit Trading Scheme Likely Mandatory for Steel Sector

  • India planned to make the Carbon Credit Trading Scheme (CCTS) compulsory for steel companies as part of cutting industrial emissions.
  • One carbon credit equals one tonne of CO₂ reduced or avoided.
  • The Bureau of Energy Efficiency (BEE) sets emission targets and monitors compliance.
  • The legal base is the Energy Conservation (Amendment) Act, 2022; the CCTS framework was notified in 2023.
Full notes and 3 MCQs ›

Defence & Security

Defence & Security

26. Shtil Naval Missile System: ₹5,083 Crore Navy Deal Explained

  • The Defence Ministry signed contracts worth ₹5,083 crore to boost maritime security, including Shtil missile systems for Indian Navy frontline warships.
  • Shtil is a ship-based surface-to-air missile system that shields vessels from aerial threats.
  • It gives naval fleets medium-range air defence during maritime combat.
  • Russian industries built it and Rosoboronexport exports it; it is derived from the Buk system.
Full notes and 3 MCQs ›

Awards & Persons

Test yourself

15 questions from the news of 4 & 5 March 2026, with answers and explanations.

Start the quiz