Daily Current Affairs (DCA) 20 March, 2026

Daily Current Affairs Quiz
20 March, 2026

National Affairs

1. World Happiness Report 2026

Source: IE

Context:

The World Happiness Report 2026, released on the occasion of the International Day of Happiness, ranks countries based on overall well-being using global survey data and expert analysis. This year’s theme focuses on “Happiness and Social Media.”

India’s Rank and Performance

Overall Ranking

• India ranked 116th in 2026
• Improvement from:
  • 118th (2024)
  • 126th (2023)

Key Observation

• Despite improvement, India remains behind regional peers such as:
  • Nepal (99th)
  • Pakistan (104th)

India’s Performance Across Key Indicators

Indicator	Rank
Perception of corruption	64th
Freedom to make life choices	61st
Generosity (charity)	78th
GDP per capita (PPP)	89th
Healthy life expectancy	95th
Social support	123rd

Top 10 Happiest Countries (2026)

1. Finland (9th consecutive year)
2. Iceland
3. Denmark
4. Costa Rica
5. Sweden
6. Norway
7. Netherlands
8. Israel
9. Luxembourg
10. Switzerland

Least Happy Country

• Afghanistan ranked 147th (last)

South Asia Comparison

Country	Rank (2026)
Nepal	99
Pakistan	104
India	116
Bangladesh	127
Sri Lanka	134
Afghanistan	147

Methodology of the Report

The World Happiness Report evaluates countries based on:

• GDP per capita
• Social support
• Healthy life expectancy
• Freedom to make life choices
• Generosity
• Perceptions of corruption

2. Krishi Sakhi Initiative

Source: PIB

Context:

The Agriculture Insurance Company of India Limited has launched the Krishi Sakhi Initiative to strengthen the role of women in agriculture through awareness, training, and inclusion in crop insurance systems.

What is the Krishi Sakhi Initiative?

The Krishi Sakhi Initiative is a nationwide programme designed to:

• Empower women farmers
• Improve their participation in agricultural decision-making
• Increase awareness and access to crop insurance schemes

It aligns with India’s broader push for gender-inclusive agricultural development.

Objectives of the Initiative

1. Enhance Women’s Participation

• Encourage active involvement of women in:
  • Farming practices
  • Risk management through insurance

2. Promote Inclusive Agriculture

• Foster gender-sensitive policies and outreach
• Recognise women as key contributors to agriculture

3. Strengthen Farm Resilience

• Improve awareness of crop insurance benefits
• Reduce vulnerability to crop losses

Key Features of the Initiative

1. Month-wise Awareness Campaigns

• Activities planned throughout 2026:
  • Educational videos
  • Walkathons
  • Community outreach programmes

2. Capacity Building & Training

• Workshops at the grassroots level
• Focus on:
  • Understanding crop insurance schemes
  • Claim processes and benefits

3. Social & Behavioural Outreach

• Awareness on:
  • Sanitation and hygiene
  • Rural well-being
• Targeted specifically at women farmers

3. Bharat Audyogik Vikas Yojna (BHAVYA)

Context:

The Union Cabinet has approved the Bharat Audyogik Vikas Yojna (BHAVYA) with an outlay of ₹33,660 crore to develop 100 plug-and-play industrial parks across India, aimed at boosting manufacturing and employment.

What is BHAVYA?

The BHAVYA Scheme is a centrally sponsored industrial infrastructure initiative designed to create world-class, ready-to-use industrial ecosystems.

• Nodal Ministry: Department for Promotion of Industry and Internal Trade
• Implementing Agency: National Industrial Corridor Development Corporation

Objectives of BHAVYA

1. Accelerate Manufacturing Growth

• Promote Make in India and industrial expansion

2. Improve Ease of Doing Business

• Provide pre-approved infrastructure and clearances

3. Strengthen Industrial Clusters

• Enable cluster-based development and supply chains

4. Generate Employment & Attract Investment

• Create large-scale job opportunities
• Boost domestic and foreign investments

Key Features of BHAVYA

1. Plug-and-Play Industrial Infrastructure

• Ready-to-use land with:
  • Utilities
  • Approvals
  • Clearances
• Reduces time from investment to production

2. Large-Scale Industrial Parks

• 100 parks across States & UTs
• Size range: 100–1000 acres

3. Financial Support Mechanism

• Up to ₹1 crore per acre for infrastructure
• Up to 25% support for external connectivity

4. Integrated Infrastructure Ecosystem

Core Infrastructure

• Roads, drainage, utilities, ICT systems

Value-Added Infrastructure

• Factory sheds
• Testing labs
• Warehousing

Social Infrastructure

• Worker housing
• Amenities and services

5. Ease of Doing Business Reforms

• Single-window clearance system
• State-led investor-friendly policies

6. Challenge-Based Selection

• Only investment-ready and reform-oriented projects selected

7. Alignment with National Initiatives

• Linked with PM GatiShakti for:
  • Multimodal connectivity
  • Logistics efficiency

4. Approved List of Models and Manufacturers (ALMM) Framework

Context:

The Ministry of New and Renewable Energy has expanded the Approved List of Models and Manufacturers (ALMM) framework to include solar ingots and wafers, effective June 1, 2028. This move deepens India’s push for self-reliance in the solar value chain.

What is the ALMM Framework?

The ALMM Framework is a quality assurance and regulatory mechanism that ensures only approved and verified solar manufacturers and models are used in government-supported and regulated solar projects.

• Launched: 2019 (ALMM Order, 2019)
• Objective: Ensure quality, reliability, and domestic manufacturing in solar energy

Objectives

1. Promote Atmanirbhar Bharat

• Reduce dependence on imports (especially from China)
• Encourage domestic solar manufacturing ecosystem

2. Ensure Quality Standards

• Maintain high performance and durability of solar components

3. Strengthen Energy Security

• Build a resilient and self-sufficient renewable sector

5. Small Hydro Power (SHP) Development Scheme

Source: News on Air

Context:

The Union Cabinet has approved the Small Hydro Power (SHP) Development Scheme for the period FY 2026-27 to FY 2030-31 with a total outlay of ₹2,584.60 crore, to accelerate India’s clean energy transition.

What is the SHP Development Scheme?

The Small Hydro Power (SHP) Development Scheme is a centrally sponsored renewable energy initiative aimed at promoting small hydro projects (1–25 MW capacity) across India, especially in remote, hilly, and underserved regions.

• Launched: March 2026
• Implemented by: Ministry of New and Renewable Energy

Key Features of the Scheme

1. Financial Outlay and Investment Potential

• Central allocation: ₹2,584.60 crore
• Expected to mobilize: ~₹15,000 crore investment

2. Differential Central Financial Assistance (CFA)

For North-Eastern & Border States:

• ₹3.6 crore/MW
• Up to 30% of project cost
• Maximum: ₹30 crore per project

For Other States:

• ₹2.4 crore/MW
• Up to 20% of project cost
• Maximum: ₹20 crore per project

Significance:

• Encourages development in strategically important and difficult terrains

3. Pipeline Development Support

• ₹30 crore earmarked for Detailed Project Reports (DPRs)
• Target: 200 future SHP projects

4. Atmanirbhar Bharat Push

• Mandatory use of 100% indigenous plant and machinery
• Boost to domestic manufacturing ecosystem

5. Decentralized and Distributed Generation

• Focus on 1–25 MW projects
• Benefits:
  • Lower transmission costs
  • Reduced grid congestion
  • Localized energy access

Banking/Finance

1. RBI Injects ₹25,101 Crore via VRR Auction

Source: BL

Context:

The Reserve Bank of India injected ₹25,101 crore into the banking system through a 3-day Variable Rate Repo (VRR) auction on March 20, 2026, to manage short-term liquidity conditions.

What is a VRR Auction?

A Variable Rate Repo (VRR) is a short-term liquidity management tool used by RBI where:

• Banks borrow funds from RBI
• Interest rate is market-determined (auction-based)
• Helps address temporary liquidity mismatches

Key Concepts

Standing Deposit Facility (SDF)

• Facility where banks park surplus funds with RBI
• No collateral required
• Acts as floor of liquidity corridor

Open Market Operations (OMO)

• RBI buys/sells government securities
• Injects or absorbs durable (long-term) liquidity

2. Rupee Falls to Record Low of ₹93.72/$

Source: BS

Context:

The Indian rupee plunged to an all-time low of ₹93.72 per dollar, marking a sharp 1.15% single-day fall, the steepest decline since the 2022 Russia-Ukraine War. The depreciation is largely driven by rising crude oil prices and global uncertainty due to the West Asia conflict.

Key Highlights

1. Sharp Depreciation Trend

• Record low: ₹93.72/$ (intraday: ₹93.77)
• FY26 depreciation: 8.8% (worst since FY14)
• March decline: 2.92%

2. Crude Oil Price Shock

• Indian crude basket surged to ~$156/barrel
• Prices have risen 120% since the West Asia crisis

Impact:

• Increases import bill
• Worsens Current Account Deficit (CAD)
• Weakens rupee due to higher dollar demand

3. Strong Dollar Demand

• Oil Marketing Companies (OMCs) buying dollars for imports
• Foreign Portfolio Investors (FPIs) pulling out funds
• Dollar index near 99.58, indicating global strength

4. RBI Intervention

• Reserve Bank of India likely sold $4–5 billion to stabilize rupee
• Without intervention, rupee could have touched ₹95/$

5. Forward Market Pressure

• RBI has ~$107 billion oversold forward positions
• As contracts mature, RBI must buy dollars, increasing demand

Implication:

• Adds structural depreciation pressure on rupee

6. Capital Outflows

• Weak foreign investor sentiment
• Equity outflows: $8.4 billion (MTD)
• Bond flows also turning negative

Key Drivers of Rupee Depreciation

External Factors

• West Asia geopolitical tensions
• Surge in crude oil and LNG prices
• Strong US dollar

Domestic Factors

• High import dependency (especially energy)
• FPI/FDI outflows
• RBI’s forward book constraints

Implications for Indian Economy

1. Inflationary Pressures

• Costlier imports → higher fuel prices
• Pass-through to food and core inflation

2. Widening Current Account Deficit

• Higher oil import bill
• Weak export competitiveness in volatile markets

3. Impact on Businesses

• Import-heavy sectors (oil, chemicals) hit
• Exporters may gain temporarily

4. Financial Market Volatility

• Currency weakness → equity market outflows
• Increases uncertainty for investors

Agriculture

1. West Asia War Impact on Indian Agriculture

Context:

The ongoing geopolitical conflict in West Asia, particularly disruptions around the Strait of Hormuz, has triggered a surge in global energy prices. Given India’s heavy dependence on imported fuel and fertilisers, the crisis is expected to have multi-dimensional adverse effects on Indian agriculture.

Key Channels of Impact on Indian Agriculture

1. Rising Input Costs for Farmers

Energy Price Shock

• Increase in crude oil and gas prices raises:
  • Diesel costs (irrigation, transport)
  • Electricity and logistics expenses

Fertiliser Cost Escalation

• Urea production depends on natural gas
• Fertiliser prices linked to naphtha and petroleum prices
• India depends on imports from:
  • Saudi Arabia
  • Qatar
  • Oman
  • United Arab Emirates

Impact:

• Higher input costs → lower farm profitability
• Increased burden on government subsidies

2. Disruption in Agricultural Trade

Export Impact

• West Asia is a key market for:
  • Basmati rice
  • Spices
• India’s agri-exports already declining:
  • $53.1 bn (2022–23) → $51.1 bn (2024–25)

Impact:

• Reduced export demand → loss of farmer income

3. Inflation and Price Volatility

• Rising input costs + import prices → food inflation
• Price volatility affects both:
  • Farmers (income uncertainty)
  • Consumers (cost of living)

Base Effect Factor

• Previous deflation in agri-prices may exaggerate current inflation trends temporarily

4. Supply Chain and Energy Linkages

• Disruptions in LNG/LPG supply affect:
  • Fertiliser production
  • Transport and storage

Impact:

• Potential shortages
• Increased dependence on imports

Broader Economic Implications

1. Impact on Rural Economy

• Agriculture employs a large share of India’s workforce
• Reduced farm incomes → weaker rural demand

2. Fiscal Pressure

• Government may need to:
  • Increase fertiliser subsidies
  • Manage food inflation

Facts To Remember

1. Bhubaneswar to host World indoor athletics in 2028

The Kalinga Indoor Stadium in Bhubaneswar will host the 2028 World Athletics Indoor Championships, the Athletics Federation of India (AFI) announced on Thursday.

2. HDFC Bank CEO Reappointment: Board to Consider Sashidhar Jagdishan’s Next Term

The board of HDFC Bank is set to review the reappointment of its Managing Director and CEO, Sashidhar Jagdishan, whose current term ends in October 2026. The proposal will first be evaluated by the Nomination and Remuneration Committee (NRC) and then sent to the Reserve Bank of India for final approval.

Regulatory Framework

• As per RBI norms, banks must submit board-approved recommendations 5–6 months before the CEO’s term ends
• The reappointment process is therefore expected to conclude well before October 2026

3. Cabinet Approves ₹2,584.60 Cr Small Hydro Power Scheme to Boost Renewable Energy

The Union Cabinet chaired by Narendra Modi approved the Small Hydro Power (SHP) Development Scheme (FY27–FY31) with ₹2,584.60 crore outlay. It targets installation of 1,500 MW capacity through projects of 1–25 MW. Implemented by the Ministry of New & Renewable Energy, it provides up to ₹3.6 crore/MW support in NE/border areas and ₹2.4 crore/MW for other states. The scheme aims to enhance clean energy generation and regional energy security.

4. CCEA Approves ₹1,718 Cr MSP Support for Cotton and ₹6,969 Cr NH-927 Project

The Cabinet Committee on Economic Affairs led by Narendra Modi approved ₹1,718.56 crore MSP support for cotton farmers via Cotton Corporation of India. It also sanctioned the ₹6,969.04 crore NH-927 (Barabanki–Bahraich) project in Uttar Pradesh under Hybrid Annuity Mode. The decisions aim to stabilise farmer income and boost road connectivity and logistics efficiency.

5. GSI Declares Kalinjar Fort Hill as National Geo-Heritage Site

The Geological Survey of India declared Kalinjar Fort hill in Uttar Pradesh as a National Geo-Heritage Site. The site features the rare Eparchaean Unconformity, showcasing a 1.3 billion-year geological gap. It exposes ancient Bundelkhand granite overlain by Kaimur sandstone. The recognition highlights its scientific, geological, and historical significance.

6. Reliance MET City Project Gets India’s First LEED Platinum Pre-Certification

Metropolis project by Reliance Industries Limited in Jhajjar became India’s first to receive LEED Platinum pre-certification. Awarded by Green Business Certification Inc., it recognises sustainability in urban planning. The project follows global standards in energy, water, transport, and climate resilience. It sets a benchmark for eco-friendly smart city development.

7. ‘Fare Se Fursat’ Scheme Launched to Ensure Affordable Air Travel

Union Minister Kinjarapu Rammohan Naidu launched the ‘Fare Se Fursat’ scheme with the Rewa–Raipur flight. Implemented by Alliance Air, it ensures fixed and affordable fares across six regional routes. The scheme builds on the UDAN initiative to enhance regional connectivity. It aims to make air travel predictable and accessible for common citizens.

8. Argentina Withdraws from WHO, Signalling Shift in Global Health Governance

Argentina formally exited the World Health Organization in March 2026 after a one-year notice period. The move follows a policy decision by President Javier Milei announced in 2025. It reflects a broader trend of decentralised global governance. The withdrawal raises concerns over international health cooperation frameworks.

9. Edelweiss AMC Launches India’s First Hybrid Passive Index Fund

Edelweiss Asset Management Company launched India’s first hybrid passive index fund combining equity and G-Secs. The fund follows a 70:30 allocation with automatic monthly rebalancing. It tracks the Nifty LargeMidcap250 Plus 8–13 year G-Sec index. The innovation aims to offer diversified low-cost investment options.

10. SCI Signs Green Methanol Vessel Deal with Mazagon Dock

Shipping Corporation of India signed a contract with Mazagon Dock Shipbuilders Limited for a methanol dual-fuel vessel. It is India’s first such Platform Supply Vessel supporting green shipping. The project aligns with the National Green Hydrogen Mission. It aims to reduce maritime emissions and promote sustainable transport.

11. Jawed Ashraf Receives France’s Legion d’Honneur (Commandeur Rank)

Jawed Ashraf was awarded France’s Legion of Honour (Commandeur rank) for strengthening India–France ties. He became the first Indian Ambassador to receive this distinction. The award recognises contributions to strategic diplomacy. It highlights growing bilateral cooperation between the two nations.

12. HDFC Bank Appoints Keki Mistry as Interim Chairman

HDFC Bank appointed Keki Mistry as interim part-time Chairman after RBI approval. The appointment follows the resignation of Atanu Chakraborty. Mistry brings over four decades of experience in financial services. The move ensures continuity in leadership and governance.

13. RBI Approves Bain Capital Investment in Manappuram Finance

Reserve Bank of India approved ₹4,385 crore investment by Bain Capital in Manappuram Finance. The deal includes joint control and potential stake up to 41.66%. It involves subsidiaries Asirvad Micro Finance and Manappuram Home Finance. The investment aims to strengthen capital base and expand lending operations.

14. Ordnance Factory Day 2026 Observed on March 18

Ordnance Factory Day marks the establishment of India’s first ordnance factory in 1801 at Cossipore. It highlights the role of defence manufacturing under the Ministry of Defence. The sector was restructured into seven DPSUs in 2021. The day recognises contributions to national security and defence production.

15. Global Recycling Day 2026 Promotes Sustainable Resource Use

Global Recycling Day is observed on 18 March with theme “Don’t Think Waste – Think Opportunity”. Initiated by the Bureau of International Recycling, it promotes recycling awareness. It emphasises resource efficiency and environmental sustainability. The observance encourages circular economy practices globally.

16. Punjab Launches ‘Sikhya Kranti 2.0’ with World Bank Support

The Government of Punjab, with support from the World Bank, launched Sikhya Kranti 2.0 with ₹3,500 crore investment. It focuses on foundational learning, vocational training, and digital career guidance. The programme includes a ₹2,500 crore WB loan component. It aims to improve education quality and employability outcomes.