Daily Current Affairs (DCA) 27 March, 2026

Daily Current Affairs Quiz
27 March, 2026

International Affairs

1. Iran Grants Passage Through Strait of Hormuz to India and Other Nations

Source: TH

Context:

Iran allows selective passage through Strait of Hormuz to “friendly nations”

• Countries allowed: India, China, Russia, Iraq, Pakistan
• Trigger: Ongoing geopolitical conflict involving Iran
• Iran claims “sovereignty” over the Strait
• India assisted Iran during maritime crisis

What is the Strait of Hormuz?

A critical global maritime chokepoint for oil trade.

• Location:
  • Between Persian Gulf and Gulf of Oman
• Bordered by:
  • Iran and Oman
• Importance:
  • Handles ~20% of global oil trade
  • Key route for India’s energy imports

What is a Maritime Chokepoint?

A narrow sea route critical for global shipping.

• Examples:
  • Strait of Hormuz
  • Strait of Malacca
• Risk:
  • Disruption can impact global energy prices

What is Sovereignty in Maritime Context?

Authority of a state over its territorial waters.

• Includes:
  • Regulation of ship passage
  • Security control
• Debate:
  • International waters vs territorial control

What is Freedom of Navigation?

A principle under international maritime law.

• Ensures:
  • Free movement of ships through international waters
• Governed by:
  • United Nations Convention on the Law of the Sea

Important for Which Exam?

• UPSC
• SSC
• State PCS

MCQs

Q1. Strait of Hormuz connects:

[1] Red Sea and Mediterranean
[2] Persian Gulf and Gulf of Oman
[3] Arabian Sea and Bay of Bengal
[4] Black Sea and Caspian Sea

Q2. Which countries border the Strait of Hormuz?

[1] Iran and Oman
[2] India and Iran
[3] Saudi Arabia and UAE
[4] Iraq and Kuwait

Q3. Strait of Hormuz is important because:

[1] Fishing zone
[2] Major oil transit route
[3] Tourism hub
[4] Naval base only

Q4. UNCLOS is related to:

[1] Airspace rules
[2] Maritime law
[3] Trade tariffs
[4] Climate change

Q5. What is a maritime chokepoint?

[1] Port
[2] Narrow strategic waterway
[3] River
[4] Canal

ANSWERS

1 → [2]
2 → [1]
3 → [2]
4 → [2]
5 → [2]

National Affairs

1. QS World University Rankings by Subject 2026

Context:

Quacquarelli Symonds releases QS World University Rankings by Subject 2026

• Top Indian performers:
  • IIT (ISM) Dhanbad – Rank 21 (Mineral & Mining Engineering)
  • IIM Ahmedabad – Rank 21 (Business & Management, Marketing)
• India debuts in global Marketing subject ranking
• USA leads globally, followed by UK

What is QS World University Ranking?

A global ranking system evaluating universities.

• Based on:
  • Academic reputation
  • Employer reputation
  • Citations
  • International faculty

What is Subject Ranking?

Ranking universities in specific disciplines.

• Examples:
  • Engineering
  • Management
  • Natural Sciences

Key Highlights of QS Rankings 2026

1. India’s Top Performers

• IIT (ISM) Dhanbad:
  • 21st globally in Mineral & Mining Engineering
• IIM Ahmedabad:
  • 21st globally in Business & Management
  • 21st globally in Marketing

2. India’s Global Standing

• 99 institutions ranked (up from 79 in 2025)
• 599 subject entries
• 120 new entries

3. Top Countries

• United States:
  • 1st in 37 subjects
• United Kingdom:
  • 1st in 15 subjects

4. Top Indian Institutions (Top 50)

• IIT Delhi – Rank 36 (Engineering & Technology)
• IIT Bombay – Rank 78 (Natural Sciences)
• IIT Kharagpur – Top global ranking
• Jawaharlal Nehru University – Rank 26 (Development Studies)
• BITS Pilani – Rank 45 (Pharmacy & Pharmacology)

5. India’s Rising Presence

• 4th largest higher education system globally
• Top-50 presence doubled since 2024 (27 entries)

Important for which Exam?

• UPSC
• SSC
• Banking Exam

MCQs

Q1. QS rankings are released by:

[1] World Bank
[2] IMF
[3] Quacquarelli Symonds
[4] UNESCO

Q2. As per QS Ranking IIT (ISM) Dhanbad rank is:

[1] 10
[2] 15
[3] 21
[4] 30

Q3. As per QS Ranking IIT (ISM) IIM Ahmedabad rank:

[1] 15
[2] 21
[3] 25
[4] 30

Q4. As per QS Ranking IIT (ISM) India’s total institutions:

[1] 50
[2] 75
[3] 99
[4] 120

Q5. India’s rank globally (system size):

[1] 2nd
[2] 3rd
[3] 4th
[4] 5th

ANSWERS

1 → [3]
2 → [3]
3 → [2]
4 → [3]
5 → [3]

2. Operation Urja Suraksha

Context:

India launches Operation Urja Suraksha amid West Asia tensions

• Objective: Safeguard energy supply routes
• Focus area: Strait of Hormuz
• Executing agency: Indian Navy
• Key goal: Ensure uninterrupted oil & gas imports

What is the Strait of Hormuz?

A narrow but strategically vital maritime chokepoint.

• Connects:
  • Persian Gulf → Gulf of Oman
• Importance:
  • Handles ~20% of global oil trade
  • Critical for India’s energy imports

What is Energy Security?

Ensuring reliable and affordable access to energy resources.

• Includes:
  • Crude oil
  • LNG (Liquefied Natural Gas)
  • LPG

Here is your refined, exam-ready structured summary with improved MCQs (full sentence, 5 options, clean format):

3. India’s Nationally Determined Contribution (NDC) 2031–2035

Context:

India has approved its updated Nationally Determined Contributions for the period 2031–2035 under the United Nations Framework Convention on Climate Change as part of the Paris Agreement. The updated targets align with India’s long-term goal of achieving net-zero emissions by 2070 and support the vision of Viksit Bharat @2047.

What are Nationally Determined Contributions (NDCs)?

NDCs are climate action plans submitted by countries outlining their commitments to reduce emissions and adapt to climate change.

Covers

• Emission reduction targets
• Adaptation strategies
• Climate finance and technology needs

What is Emissions Intensity?

Emissions intensity refers to the amount of greenhouse gas emissions per unit of GDP.

Implication

• Reduction indicates cleaner and more efficient economic growth

What is Carbon Sink?

A carbon sink is a natural system that absorbs more carbon dioxide than it emits.

Examples

• Forests
• Trees

What is Net-Zero?

Net-zero refers to balancing greenhouse gas emissions with their removal from the atmosphere.

India’s Target

• Net-zero emissions by 2070

MCQs

Q1. Under which international framework are Nationally Determined Contributions (NDCs) submitted?
[1] World Trade Organization
[2] United Nations Framework Convention on Climate Change
[3] International Monetary Fund
[4] World Bank
[5] United Nations Development Programme

Q2. What is India’s target year for achieving net-zero emissions?
[1] 2050
[2] 2060
[3] 2070
[4] 2080
[5] 2090

Q3. What is the targeted reduction in emissions intensity under India’s updated NDC?
[1] 30%
[2] 40%
[3] 47%
[4] 55%
[5] 60%

Q4. What is the target share of non-fossil fuel-based electricity capacity under the updated NDC?
[1] 40%
[2] 50%
[3] 60%
[4] 70%
[5] 80%

Q5. What is India’s target for creating additional carbon sinks under the updated NDC?
[1] 1–2 billion tonnes
[2] 2–3 billion tonnes
[3] 3.5–4 billion tonnes
[4] 4–5 billion tonnes
[5] 5–6 billion tonnes

Answer Key

1 → [2]
2 → [3]
3 → [3]
4 → [3]
5 → [3]

4. Immigration, Visa, Foreigners Registration & Tracking (IVFRT) Scheme

Context:

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the continuation of the Immigration, Visa, Foreigners Registration & Tracking (IVFRT) Scheme beyond 31 March, 2026 for a period of five year from 01 April, 2026 to 31 March, 2031 with budget outlay of Rs.1800 crore.

• Approved by: Union Cabinet
• Outlay: ₹1,800 crore
• Implemented by: “,”Ministry of Home Affairs”,”India internal security ministry”
• Objective: Secure + seamless immigration system

What is IVFRT Scheme?

A mission-mode e-governance project.

• Covers entire lifecycle:
• Visa application
• Entry into India
• Stay and activities
• Exit

What are Immigration Check Posts (ICPs)?

Official entry/exit points for international travelers.

• Includes:
• Airports
• Seaports
• Land borders

What is FRRO/FRO?

Foreigners registration authorities.

• FRRO/FRO are government offices in India that handle the registration, visa services, and regulation of foreign nationals staying in the country.
• Functions:
• Registration of foreign nationals
• Visa extensions

What is e-Visa System?

Online visa issuance mechanism.

• Benefits:
• Faster processing
• Reduced paperwork

Important for which Exam?

• UPSC
• SSC
• State PCS

MCQs

Q1. The IVFRT Scheme is primarily related to which sector?
[1] Agriculture
[2] Immigration management
[3] Banking
[4] Education
[5] Defence manufacturing

Q2. The IVFRT Scheme is implemented by which ministry?
[1] Reserve Bank of India
[2] Ministry of Home Affairs
[3] SEBI
[4] NABARD
[5] Ministry of External Affairs

Q3. What is the duration of the extended IVFRT Scheme?
[1] 2020–2025
[2] 2026–2031
[3] 2015–2020
[4] 2030–2035
[5] 2025–2030

Q4. What is the primary function of FRRO/FRO?
[1] Tax collection
[2] Foreigners registration and visa services
[3] Trade regulation
[4] Agricultural monitoring
[5] Defence operations

Q5. Under FTI-TTP, immigration processing time is reduced to approximately:
[1] 1 minute
[2] 30 seconds
[3] 5 minutes
[4] 10 minutes
[5] 15 minutes

Answer Key

1 → [2]
2 → [2]
3 → [2]
4 → [2]
5 → [2]

5. BRICS CCI WE Summit 2026

Context:

BRICS CCI Women Empowerment Summit 2026 held in New Delhi (March 21–23, 2026)

• 6th edition of BRICS CCI WE Summit
• Theme: Women in Innovation, Science Leadership & Entrepreneurship (WISE)
• Focus: Women-led growth, innovation, and leadership
• Key initiative launched: Mission ShakthiSAT

What is BRICS?

BRICS is a group of major emerging economies.

• Members:
  • Brazil, Russia, India, China, South Africa

What is BRICS CCI?

BRICS Chamber of Commerce and Industry promotes trade, business, and collaboration among BRICS nations.

What is BRICS WBA?

BRICS Women Business Alliance supports women entrepreneurship and economic participation.

Key Highlights of Summit 2026

1. Theme: WISE (Women in Innovation, Science & Entrepreneurship)

• Promotes:
  • Women in STEM
  • Leadership roles
  • Startup ecosystem

2. Launch of Mission ShakthiSAT

• Unveiled by Meenakshi Lekhi
• Focus:
  • Women empowerment in space and technology sectors

Important for which Exam?

• UPSC
• SSC
• State PCS

MCQs

Q1. Which of the following countries are members of BRICS?
[1] India, USA, China
[2] Brazil, Russia, India, China, South Africa
[3] India, Japan, Australia
[4] Only Asian countries
[5] India, UK, France

Q2. The BRICS CCI WE Summit 2026 was held in which city?
[1] Mumbai
[2] New Delhi
[3] Beijing
[4] Moscow
[5] Johannesburg

Q3. The theme “WISE” at the summit primarily relates to:
[1] Trade only
[2] Women in innovation and leadership
[3] Agriculture
[4] Defence
[5] Energy security

Q4. What is the focus area of Mission ShakthiSAT?
[1] Agriculture development
[2] Space and technology empowerment of women
[3] Banking inclusion
[4] Trade facilitation
[5] Climate finance

Q5. Shabana Azmi received which award at the summit?
[1] Nobel Prize
[2] Trailblazer Award
[3] Padma Bhushan
[4] Oscar
[5] Bharat Ratna

Answer Key

1 → [2]
2 → [2]
3 → [2]
4 → [2]
5 → [2]

6. India Explores Local Currency Payments for West Asian Oil Imports

Context:

India explores local currency mechanism for oil trade with Gulf Cooperation Council countries

• Trigger: Rising crude oil prices + weakening rupee
• Objective: Reduce dollar dependence & transaction costs
• Scope: Could cover ~80% of India’s oil imports
• Strategic shift in global trade settlement

What is Local Currency Trade?

Trade conducted using domestic currencies instead of a third currency like the US dollar.

• Example:
  • Rupee–Dirham trade
  • Rupee–Riyal mechanism
• Objective:
  • Reduce exchange rate risk
  • Lower transaction costs

What is Currency Conversion Cost?

Charges incurred when converting one currency into another.

• Typically:
  • 1–2% per transaction stage
• Impact:
  • High in large-value imports like crude oil

What is Indian Oil Basket?

A weighted average price of crude oil imported by India.

• Components:
  • Oman crude
  • Dubai crude
  • Brent Crude
• Current trend:
  • Sharp rise due to geopolitical tensions

What is Exchange Rate Depreciation?

Decline in value of domestic currency against foreign currency.

• Example:
  • Rupee weakening against US dollar
• Impact:
  • Higher import bills
  • Inflationary pressure

Important for Which Exam?

• Banking Exam
• UPSC

MCQs

Q1. What is meant by local currency trade in international transactions?
[1] Trade using gold
[2] Trade using domestic currencies of partner countries
[3] Trade using cryptocurrencies
[4] Trade using barter system
[5] Trade using SDRs only

Q2. The Indian crude oil basket primarily includes which of the following benchmarks?
[1] Only Brent
[2] Oman, Dubai and Brent
[3] Only US oil
[4] Only Russian oil
[5] Brent and WTI only

Q3. What is the impact of currency depreciation on imports?
[1] Makes imports cheaper
[2] Makes imports costlier
[3] No impact
[4] Increases exports only
[5] Reduces inflation directly

Q4. What is the major objective of promoting local currency trade?
[1] Increase tax collection
[2] Reduce dependence on the US dollar
[3] Promote tourism
[4] Increase imports
[5] Control inflation

Q5. What does Gulf Cooperation Council (GCC) refer to?
[1] European group
[2] West Asian bloc
[3] African union
[4] ASEAN grouping
[5] Latin American bloc

Answer Key

1 → [2]
2 → [2]
3 → [2]
4 → [2]
5 → [2]

Banking/Finance

1. SEBI ‘Verified App Label’ Initiative 2026

Context:

Securities and Exchange Board of India launches ‘Verified App Label’ initiative (March 2026)

• Announced by: Tuhin Kanta Pandey
• Objective: Protect investors from fraudulent investment apps
• Key message: “First verify. Then invest.”
• Collaboration with: Google

What is SEBI?

India’s capital market regulator.

• Functions:
  • Investor protection
  • Market regulation
  • Preventing fraud

What is a Verified App Label?

A digital authentication mechanism.

• Indicates:
  • App belongs to SEBI-registered intermediary
  • Safe for investors

Key Highlights of the Initiative

1. Fraud Detection and Response

• Over 1.3 lakh fraudulent apps removed
• Includes 66 fake trading apps

2. Verified Badge Mechanism

• Apps of SEBI-registered intermediaries will:
  • Display “Verified App Label”
  • Be identifiable on Google Play Store

3. Partnership with Google

• Monitoring misleading financial content
• Action against non-compliant finfluencers
• Strengthening digital ecosystem governance

4. Preventive Regulatory Approach

• Shift from reactive to preventive regulation
• Focus on early verification before investment

Important for which exam?

• SEBI
• Banking Exam

2. Record FPI Selling in Indian Equity Markets Amid Oil Price Uncertainty

Source: TH

Context:

Record outflows by Foreign Portfolio Investors from India amid global uncertainty

• Total selling: ₹1.1 lakh crore in March 2026
• Data source: National Securities Depository Limited
• Trigger: Rising oil prices + geopolitical tensions
• Broad-based selling across equity, debt, and mutual funds

What are FPIs (Foreign Portfolio Investors)?

Foreign investors who invest in financial assets like stocks and bonds.

• Includes:
  • FIIs (Foreign Institutional Investors)
  • Hedge funds, pension funds
• Nature:
  • Short-term, market-sensitive investments

What is FPI Selling?

Withdrawal of foreign capital from domestic financial markets.

• Impact:
  • Stock market decline
  • Currency depreciation
  • Increased volatility

What are Benchmark Indices?

Key indicators of stock market performance.

• Examples:
  • Sensex
  • Nifty 50

What is Safe-Haven Shift?

Movement of funds from risky assets to safer assets.

• Examples:
  • US dollar
  • Gold
  • US Treasury bonds

Important for which Exam?

• Banking Exam
• NABARD
• SEBI

MCQs

Q1. What do Foreign Portfolio Investors (FPIs) primarily invest in?
[1] Physical infrastructure assets
[2] Financial assets like stocks and bonds
[3] Agricultural land only
[4] Real estate projects only
[5] Government subsidies

Q2. What is the impact of large-scale FPI selling on stock markets?
[1] It leads to a rise in stock prices
[2] It has no impact on markets
[3] It leads to a decline in stock markets
[4] It increases only exports
[5] It reduces inflation immediately

Q3. What is the Sensex in the Indian financial system?
[1] A type of currency
[2] A benchmark stock market index
[3] A banking institution
[4] A government welfare scheme
[5] A commodity exchange

Q4. What was a major trigger for the recent FPI outflows in March 2026?
[1] Decline in inflation
[2] Rise in global oil prices
[3] Increase in exports
[4] Decrease in imports
[5] Stable geopolitical conditions

Q5. What is considered a safe-haven asset during global uncertainty?
[1] Equity shares
[2] Gold
[3] Real estate
[4] Corporate bonds
[5] Mutual funds

Answer Key

1 → [2]
2 → [3]
3 → [2]
4 → [2]
5 → [2]

2. Bankers Propose COVID-like Moratorium for MSMEs Amid West Asia Conflict

Source: BS

Context:

Amid rising geopolitical tensions in West Asia, Indian banks have proposed a temporary loan moratorium for MSMEs to the Reserve Bank of India and the Government of India. The proposal is based on the model used during the COVID-19 pandemic and suggests an opt-in framework to address liquidity stress faced by small businesses.

What is a Loan Moratorium?

A loan moratorium refers to a temporary suspension of loan repayments for a specified period.

Key Features

• EMI payments are paused
• Interest may continue to accrue
• Loans are not classified as default during the period

Objective

• Provide liquidity relief during economic disruptions
• Prevent immediate loan defaults

What is an Opt-in Moratorium?

An opt-in moratorium is a voluntary mechanism where eligible borrowers choose to avail relief.

Advantages

• Targets only stressed borrowers
• Avoids blanket relief measures
• Reduces administrative burden on banks
• Helps maintain asset quality discipline

Importance of MSMEs in India

Contribution to Economy

• Around 30% contribution to GDP
• Major employment generator
• Significant role in exports

Key Vulnerability

• Highly dependent on continuous cash flow
• Limited financial buffers
• More exposed to external shocks

What is Asset Quality?

Asset quality refers to the health of a bank’s loan portfolio.

Key Indicator

• Non-Performing Assets (NPAs)

Risk

• Increase in defaults leads to deterioration in asset quality
• Moratoriums may delay recognition of stress

MCQs

Q1. What is meant by a loan moratorium in the banking system?
[1] Complete waiver of loan
[2] Temporary suspension of loan repayments
[3] Increase in loan amount
[4] Permanent reduction in interest rate
[5] Conversion of loan into equity

Q2. What is the primary objective of providing a loan moratorium to borrowers?
[1] Increase government revenue
[2] Provide liquidity relief during crises
[3] Reduce interest rates permanently
[4] Promote exports
[5] Control inflation

Q3. What is an opt-in moratorium framework in banking?
[1] Mandatory relief for all borrowers
[2] Voluntary participation by eligible borrowers
[3] Selection by government authorities only
[4] Automatic restructuring of all loans
[5] Relief limited to large corporates

Q4. What approximate share do MSMEs contribute to India’s GDP?
[1] 10%
[2] 20%
[3] 30%
[4] 40%
[5] 50%

Q5. What is the key indicator used to measure asset quality in banks?
[1] Inflation rate
[2] GDP growth
[3] Non-Performing Assets (NPAs)
[4] Export levels
[5] Fiscal deficit

Answer Key

1 → [2]
2 → [2]
3 → [2]
4 → [3]
5 → [3]

3. Income Tax Rules 2026

Context:

India has introduced stricter tax compliance rules for credit card transactions effective April 1, 2026. The reform focuses on high-value transaction monitoring, mandatory PAN linkage, and integration of credit card data with the tax reporting system to detect income-spending mismatches.

What is PAN (Permanent Account Number)?

Permanent Account Number is a unique alphanumeric identifier issued to taxpayers.

Purpose

• Track financial transactions
• Prevent tax evasion
• Enable data integration across financial systems

What are High-Value Transactions?

High-value transactions refer to financial activities exceeding specified thresholds that are monitored by tax authorities.

Examples

• Credit card spending above ₹10 lakh annually
• Cash payments above ₹1 lakh

What is Tax Scrutiny?

Tax scrutiny is a detailed examination of financial records by tax authorities.

Trigger

• Mismatch between declared income and actual expenditure

What is Perquisite?

A perquisite refers to benefits provided by an employer to an employee.

Example

• Personal expenses using corporate credit cards, which are taxable under income tax

Key Changes Introduced

1. PAN-Linkage Mandatory
   Credit cards must be linked with PAN, and issuance without PAN is not allowed.
2. High-Value Spending Monitoring
   Annual spending above ₹10 lakh is flagged, including overseas transactions.
3. Cash Payment Monitoring
   Cash payments above ₹1 lakh are tracked with stricter enforcement.
4. Corporate Card Taxation
   Personal use of corporate cards will be treated as taxable perquisite.
5. Tax Payment via Credit Card
   Tax payments through credit cards are allowed, though charges may apply.

MCQs

Q1. What is the primary purpose of the Permanent Account Number (PAN) in India?
[1] Issuing passports
[2] Identifying taxpayers and tracking financial transactions
[3] Providing subsidies
[4] Regulating imports
[5] Managing banking licenses

Q2. What is the threshold for credit card spending to be classified as a high-value transaction under the new rules?
[1] ₹1 lakh
[2] ₹5 lakh
[3] ₹10 lakh
[4] ₹20 lakh
[5] ₹50 lakh

Q3. What has been made mandatory for credit card issuance under the Income Tax Rules 2026?
[1] Aadhaar linkage only
[2] PAN linkage
[3] Passport verification
[4] GST registration
[5] Voter ID submission

Q4. What is meant by a perquisite under the Income Tax framework?
[1] A tax exemption provided by government
[2] A benefit provided by employer to employee
[3] A type of loan
[4] A subsidy given to farmers
[5] A corporate tax rebate

Q5. What is the threshold for monitoring cash payments under the new rules?
[1] ₹50,000
[2] ₹1 lakh
[3] ₹2 lakh
[4] ₹5 lakh
[5] ₹10 lakh

Answer Key

1 → [2]
2 → [3]
3 → [2]
4 → [2]
5 → [2]

4. Corporate Laws (Amendment) Bill, 2026

Source: IE

Context:

India has introduced the Corporate Laws (Amendment) Bill, 2026 to modernise corporate governance and improve the ease of doing business. The bill focuses on faster insolvency resolution, audit reforms, and compliance easing, and is linked with strengthening the Insolvency and Bankruptcy Code. It has been referred to a Joint Parliamentary Committee for further review.

What is NCLT?

The National Company Law Tribunal is a quasi-judicial body that handles corporate disputes and insolvency matters under the Companies Act and IBC. It currently faces capacity constraints, leading to delays in case resolution.

What is Insolvency Resolution?

It is a time-bound process to resolve stressed assets of companies under the Insolvency and Bankruptcy Code, aimed at value maximisation and revival of firms.

What is CSR (Corporate Social Responsibility)?

CSR refers to mandatory spending by companies on social and developmental activities. The proposed amendment increases the applicability threshold from ₹5 crore to ₹10 crore net profit, easing compliance for smaller firms.

What is NFRA?

The National Financial Reporting Authority regulates auditing and accounting standards in India. It oversees auditors and ensures transparency in financial reporting.

Key Proposed Amendments

1. Special Benches of NCLT
   Special benches can be constituted for faster disposal of cases, reducing backlog and improving efficiency.
2. Centralised Merger Approvals
   A single NCLT bench will handle merger approvals to simplify and speed up the process.
3. CSR Threshold Relaxation
   Threshold increased to ₹10 crore net profit to reduce compliance burden on smaller companies.
4. Audit Reforms
   Auditors will be restricted from providing non-audit services during their tenure and for three years after, ensuring independence.
5. Buyback Flexibility
   Companies will be allowed to undertake up to two share buybacks per year, improving capital management.
6. Strengthening NFRA
   NFRA will be empowered to make regulations, enhancing audit oversight and accountability.
7. AIF Conversion
   Trust-based Alternative Investment Funds (AIFs) can convert into LLPs for operational flexibility.
8. Virtual AGMs
   Companies can conduct Annual General Meetings via video conferencing, improving compliance ease and participation.

MCQs

Q1. What is the primary function of the National Company Law Tribunal (NCLT)?
[1] Handling criminal cases
[2] Resolving corporate disputes and insolvency cases
[3] Managing taxation policies
[4] Regulating agriculture sector
[5] Supervising banking operations

Q2. In which year was the Insolvency and Bankruptcy Code enacted in India?
[1] 2010
[2] 2014
[3] 2016
[4] 2018
[5] 2020

Q3. What is the proposed CSR applicability threshold under the Corporate Laws (Amendment) Bill, 2026?
[1] ₹5 crore
[2] ₹7 crore
[3] ₹10 crore
[4] ₹15 crore
[5] ₹20 crore

Q4. What is the primary role of the National Financial Reporting Authority (NFRA)?
[1] Regulating banks
[2] Overseeing auditors and audit standards
[3] Managing fiscal policy
[4] Supervising stock exchanges
[5] Regulating insurance sector

Q5. What restriction is proposed under the audit reforms in the bill?
[1] Restriction on tax filings
[2] Ban on non-audit services by auditors
[3] Limit on bank lending
[4] Control on imports
[5] Restriction on exports

Answer Key

1 → [2]
2 → [3]
3 → [3]
4 → [2]
5 → [2]

Agriculture

1. Grameen Credit Score (GCS)

Context:

India is promoting the adoption of Grameen Credit Score as a default tool for rural borrower assessment to enhance access to formal credit. The initiative targets SHGs, farmers, MSMEs, and marginalised communities, and was announced in Union Budget FY26. It will be implemented through Credit Information Companies.

What is Grameen Credit Score (GCS)?

Grameen Credit Score is a rural-focused credit scoring mechanism designed to evaluate borrowers who lack formal credit history.

Designed for

• Farmers
• Self-Help Groups (SHGs)
• Rural enterprises

Key Feature

• Enables assessment of “new-to-credit” borrowers

What are Credit Information Companies (CICs)?

Credit Information Companies are institutions that collect and maintain credit data and generate credit scores.

Example

• TransUnion CIBIL

Role

• Generate credit scores
• Support lending decisions

What is Financial Inclusion?

Financial inclusion refers to providing affordable access to financial services to underserved populations.

Includes

• Banking
• Credit
• Insurance

What is Priority Sector Lending (PSL)?

Priority Sector Lending is a mandatory requirement for banks to lend to key sectors.

Includes

• Agriculture
• MSMEs
• Weaker sections

Important for which Exam?

• NABARD

MCQs

Q1. What is the primary purpose of the Grameen Credit Score (GCS)?
[1] Urban infrastructure financing
[2] Rural credit assessment for borrowers without formal history
[3] Tax calculation for farmers
[4] Export promotion
[5] Inflation control

Q2. Which group is the main beneficiary of the Grameen Credit Score system?
[1] Large corporates
[2] Rural borrowers including farmers and SHGs
[3] Foreign investors
[4] Government departments only
[5] Urban salaried class

Q3. Which of the following is an example of a Credit Information Company in India?
[1] RBI
[2] NABARD
[3] TransUnion CIBIL
[4] SEBI
[5] SIDBI

Q4. Which sector is included under Priority Sector Lending (PSL)?
[1] Luxury goods industry
[2] Agriculture sector
[3] Entertainment industry
[4] Defence manufacturing
[5] Cryptocurrency trading

Q5. How does the Grameen Credit Score help the rural economy?
[1] By increasing inflation
[2] By improving access to formal credit
[3] By reducing exports
[4] By increasing taxes
[5] By restricting lending

Answer Key

1 → [2]
2 → [2]
3 → [3]
4 → [2]
5 → [2]

Facts To Remember

1. BRICS CCI WE Summit 2026 Held in New Delhi Promoting Women Leadership

BRICS Chamber of Commerce and Industry hosted the Women Empowerment Summit in New Delhi with theme WISE, highlighting innovation, entrepreneurship, and initiatives like Mission ShakthiSAT while honouring Shabana Azmi.

2. NCW Partners with Truecaller to Boost Women’s Digital Safety

National Commission for Women collaborated with Truecaller to launch ‘TrueCyberSakhi’ toolkit, promoting awareness on cyber risks, fraud prevention, and digital safety for women.

3. BHASHINI and PFRDA Sign MoU for Multilingual Pension Access

BHASHINI partnered with Pension Fund Regulatory and Development Authority to enable multilingual pension services using AI-driven translation, improving accessibility across 22 languages.

4. MoE Issues 3-Year Action Plan for Nasha Mukt Bharat Abhiyan

Ministry of Education launched a nationwide action plan under NMBA to create drug-free school zones, promote awareness, and strengthen preventive education against substance abuse.

5. DPIIT Signs MoU with Razorpay and Launches Startup Sahayak Platform

Department for Promotion of Industry and Internal Trade partnered with Razorpay to support startups via ‘Startup Sahayak’, offering funding guidance, mentorship, and digital tools for growth.

6. Cochin Chamber Signs MoU with Latvian Chamber to Boost Trade

Cochin Chamber of Commerce and Industry signed MoU with Latvian Chamber of Commerce and Industry to enhance bilateral trade and expand opportunities in pharmaceuticals, education, and wood industry.

7. Ramkumar Mukhopadhyay Selected for Saraswati Samman 2025

Ramkumar Mukhopadhyay received Saraswati Samman for his novel, recognizing excellence in Indian literature with a prestigious national award.

8. CCI Approves MUFG Bank’s 20% Stake Acquisition in Shriram Finance

Competition Commission of India approved MUFG Bank acquisition of 20% stake in Shriram Finance Limited, marking a major cross-border investment in India’s financial sector.

9. World Tuberculosis Day 2026 Observed on March 24

World Health Organization observed the day with theme “Yes! We Can End TB,” promoting awareness and initiatives like TB Mukt Bharat campaign in India.

10. International Day for the Right to Truth Observed on March 24

United Nations marked the day to honour victims of human rights violations and promote justice and dignity globally.

11. International Day of Remembrance of Slavery Victims Observed on March 25

United Nations General Assembly observed the day to remember victims of transatlantic slave trade and promote awareness on historical injustices.

12. International Day of Solidarity with Detained Staff Observed on March 25

United Nations observed the day to honour detained and missing personnel in humanitarian missions and strengthen global safety frameworks.