Daily Current Affairs Quiz
10 April, 2026
National Affairs
1. NITI Aayog Report: “From Borrowers to Builders: Women and India’s Evolving Credit Market”
Source: PIB
Context:
The “From Borrowers to Builders” report captures a transformative era where Indian women are pivoting from mere credit consumers to foundational enterprise creators. By bridging the gap between access and actual economic progression, India is unlocking a massive, resilient segment of its economy.
THE EVOLUTION OF WOMEN’S CREDIT
The shift highlighted in the report can be categorized into three distinct phases of financial maturity.
1. The Quantitative Leap (2017–2025)
- Portfolio Expansion: A staggering 4.8x growth, reaching a ₹76 lakh crore portfolio.
- Credit Depth: Credit penetration nearly doubled to 36%, moving beyond the initial “Pradhan Mantri Jan Dhan Yojana” account-opening phase into active borrowing.
- The “Reliability” Factor: Women have proven to be lower-risk borrowers, with default rates 0.7x lower than the general market, making them highly attractive to formal lenders.
2. The Qualitative Shift: “Micro-to-Macro”
- Microfinance Graduation: 19% of women have successfully “graduated” from group-based micro-loans to individual commercial loans.
- Asset Creation: Women’s participation in housing loans (69%) indicates they are moving toward long-term asset ownership rather than just consumption-based credit.
- Geographic Dynamism: While the South remains a leader, the “fastest growth” is now coming from states like Bihar (59% CAGR) and Uttar Pradesh (42% CAGR).
3. Overcoming Structural Friction
Despite the progress, 29 crore credit-eligible women remain unserved. The report identifies key “invisible” barriers:
- Time Poverty: Unpaid care work (38% in Kerala) limits the time women can spend on complex digital applications.
- Digital Translation Gap: Having a smartphone does not equate to knowing how to use AI for business marketing.
- Decision-Making Gaps: Many women still require “permission” for investment, limiting the strategic impact of the loans they take.
THE “WAY AHEAD” BLUEPRINT
To move from the current 26% share to full economic parity, the report suggests a fundamental redesign of the credit ecosystem:
| Strategy | Actionable Detail | Expected Outcome |
| Flow-Based Underwriting | Using UPI and merchant data instead of physical collateral. | Unlocks credit for nano-entrepreneurs who lack land/gold. |
| Lifecycle-Bundling | Bundling insurance and savings for women under 35. | Builds long-term financial resilience for young families. |
| Inclusive Design | Voice-enabled and vernacular-first apps. | Overcomes literacy barriers and builds “trust” in digital systems. |
| Graduation Tracking | Measuring “Success Stories” rather than just “Disbursement Amounts.” | Shifts the goal from “getting a loan” to “growing a business.” |
CONCEPTUAL MCQs FOR REVISION
Q1. According to the report, what is the share of women in India’s total system credit as of 2025?
A) 16%
B) 19%
C) 26%
D) 36%
Q2. Which northern state recorded the highest CAGR (59%) for women business borrowers?
A) Uttar Pradesh
B) Punjab
C) Bihar
D) Rajasthan
Q3. The “Tarun Plus” category (related to the broader MUDRA context often linked with this growth) supports loans up to:
A) ₹5 Lakh
B) ₹10 Lakh
C) ₹20 Lakh
D) ₹50 Lakh
Q4. What percentage of active microfinance borrowers have graduated to individual retail/commercial loans?
A) 9%
B) 19%
C) 31%
D) 45%
Q5. The “Time Poverty” mentioned in the report primarily refers to:
A) Lack of fast internet.
B) Short loan repayment periods.
C) Overlap of household responsibilities and unpaid care work.
D) Delays in loan processing.
ANSWERS & EXPLANATIONS
| Question | Answer | Explanation |
| Q1 | C | Women hold ₹76 lakh crore, which is 26% of the total ₹292 lakh crore system credit. |
| Q2 | C | Bihar is leading the growth surge in the North, followed by UP. |
| Q3 | C | As seen in PMMY updates, Tarun Plus caters to those scaling beyond ₹10L. |
| Q4 | B | This “graduation” is a key indicator of moving from “Borrowers” to “Builders.” |
| Q5 | C | Unpaid care work is a major barrier to women’s consistent engagement with formal finance. |
EXAM RELEVANCE
| Exam | Focus Area | Relevance Level |
| UPSC CSE | GS-3 (Inclusive Growth, Economy) / GS-2 (Women Empowerment) | Critical |
| RBI Grade B | ESI (Social Justice, Financial Inclusion, Gender) | Critical |
| Banking / SSC | Current Affairs (NITI Aayog Reports & Financial Stats) | High |
2. India’s First Quantum Reference Facility
Source: TH
Context:
Andhra Pradesh is set to launch India’s first Quantum Reference Facility (QRF). Dedicated to the nation by Chief Minister N. Chandrababu Naidu on April 14, 2026, this facility marks a critical milestone in India’s National Quantum Mission. The project is a centerpiece of the Amaravati Quantum Valley program, aimed at making the state a global hub for deep-tech innovation.
WHAT IS A QUANTUM REFERENCE FACILITY?
Currently, India possesses quantum research labs, but it lacks a standardized “testing bed.”
- The Problem: Developers of quantum components (like sensors, processors, or cryogenic cooling systems) previously had no benchmark system in India to verify if their hardware worked correctly within a quantum ecosystem.
- The Solution: The QRF provides two specialized testing beds that act as a “Gold Standard.” Researchers can use these facilities to test and calibrate different components, ensuring they meet the high-precision requirements of quantum mechanics.
THE ECOSYSTEM AT SRM UNIVERSITY-AP
The facility is located at SRM University-AP, which is becoming the operational heart of the Amaravati Quantum Valley.
- Collaborators: Developed in partnership with the Amaravati Quantum Research Facility (AQRF) and Qubit Force.
- State Support: Andhra Pradesh is the first state in India to proactively build a reference facility, positioning itself ahead in the race for “Quantum Supremacy” in the region.
BACKGROUND CONCEPTS: Q&A FORMAT
Q: What is the “Amaravati Quantum Valley” (AQV)?
A: Inspired by “Silicon Valley,” AQV is a state government initiative to create a geographic cluster of quantum technology companies, research labs, and startups. By providing infrastructure like the Reference Facility, the government hopes to attract global tech giants to invest in Andhra Pradesh.
Q: What is a “Testing Bed”?
A: In engineering, a testing bed is a platform used to test a tool or a piece of software in a controlled environment. In quantum terms, it’s a stable quantum computer where new parts (like a new type of qubit controller) can be swapped in and out to see how they perform.
CONCEPTUAL MCQs
Q1. Where is India’s first Quantum Reference Facility being established?
A) IIT Madras
B) IISc Bengaluru
C) SRM University-AP, Amaravati
D) TIFR Mumbai
E) ISRO Headquarters
Q2. On which date is the facility scheduled to be dedicated to the nation?
A) August 15 (Independence Day)
B) January 26 (Republic Day)
C) April 14 (World Quantum Day)
D) October 2 (Gandhi Jayanti)
E) June 21 (Yoga Day)
Q3. The Planck Constant, which inspired the date of World Quantum Day, is central to which field of science?
A) Classical Mechanics
B) Thermodynamics
C) Quantum Mechanics
D) Organic Chemistry
E) Macroeconomics
Q4. What is the primary role of a “Reference Facility” in the quantum ecosystem?
A) To act as a library for books on physics.
B) To provide a standardized testing bed for verifying quantum components.
C) To manufacture silicon chips for smartphones.
D) To generate electricity for the city of Amaravati.
E) To store old classical computers.
Q5. The “Amaravati Quantum Valley” initiative is being spearheaded by which state government?
A) Telangana
B) Karnataka
C) Tamil Nadu
|D) Andhra Pradesh
E) Maharashtra
ANSWERS & EXPLANATIONS
| Question | Answer | Explanation |
| Q1 | C | SRM University-AP is the primary academic partner for this facility. |
| Q2 | C | World Quantum Day aligns with the numerical representation of the Planck Constant. |
| Q3 | C | The Planck Constant ($h$) relates the energy of a photon to its frequency. |
| Q4 | B | It provides the “reference” baseline needed to calibrate new hardware. |
| Q5 | D | AP is the first state to launch a dedicated state-level quantum program of this scale. |
EXAM RELEVANCE
| Exam | Focus Area | Relevance Level |
| UPSC CSE | GS-3 (Science & Tech – National Quantum Mission) | Critical |
| State PSCs | Regional Tech Infrastructure (Andhra Pradesh) | High |
3. Pradhan Mantri MUDRA Yojana (PMMY)
Context:
The 11th anniversary of the Pradhan Mantri MUDRA Yojana (PMMY) marks a decade of formalizing the “informal” economy. Since its launch in 2015, the scheme has acted as a bridge between high aspirations and the lack of traditional collateral, significantly impacting India’s socio-economic fabric.
THE REFINANCING MODEL
MUDRA (Micro Units Development & Refinance Agency Ltd.) does not lend directly to individuals. Instead, it acts as a refinancing body.
- Last-Mile Financiers: MUDRA provides funds to Commercial Banks, RRBs, Small Finance Banks, MFIs, and NBFCs.
- Lending: These institutions then lend to the micro-enterprises under the PMMY framework.
- Guarantee: Credit guarantee for these loans is provided through the National Credit Guarantee Trustee Company (NCGTC), which is why banks can offer them without collateral.
EVOLUTION OF LOAN CATEGORIES
The scheme recognizes that a “one size fits all” approach doesn’t work for business growth. The introduction of Tarun Plus in 2024 was a strategic move to support high-performing micro-enterprises.
| Category | Amount Range | Business Stage |
| Shishu | Up to ₹50,000 | For start-ups and initial seed capital. |
| Kishore | ₹50,000 to ₹5 Lakh | For established units needing expansion. |
| Tarun | ₹5 Lakh to ₹10 Lakh | For scaling and diversification. |
| Tarun Plus | ₹10 Lakh to ₹20 Lakh | Exclusive for those who have successfully repaid Tarun loans. |
BACKGROUND CONCEPTS
Q: Why is the MUDRA Card significant?
A: The MUDRA Card is a RuPay debit card that provides a working capital facility as an overdraft. It allows the entrepreneur to withdraw funds as and when needed, reducing the interest burden as they only pay for the amount utilized, not the entire sanctioned limit.
Q: Does PMMY cover agriculture?
A: No. PMMY is specifically for non-farm income-generating activities in manufacturing, trading, and services. However, activities allied to agriculture, such as poultry, dairy, and beekeeping, are covered.
Q: What is the “National Credit Guarantee Trustee Company” (NCGTC)?
A: It is the entity that provides the “guarantee” to the bank. If a MUDRA borrower defaults, the NCGTC covers a portion of the bank’s loss. This is the “magic” that allows the loans to be collateral-free.
CONCEPTUAL MCQs
Q1. The “Tarun Plus” category under PMMY allows for loans up to what amount?
A) ₹5 Lakh
B) ₹10 Lakh
C) ₹15 Lakh
D) ₹20 Lakh
Q2. Which of the following sectors is EXCLUDED from the scope of MUDRA loans?
A) Small manufacturing units
B) Shopkeepers and vendors
C) Direct crop-based farming
D) Truck and taxi operators
Q3. What percentage of MUDRA loan accounts are held by women as per recent trends?
A) 25%
B) 40%
C) 68%
D) 90%
Q4. MUDRA functions as a ________ agency for banks and MFIs.
A) Direct lending
B) Regulatory
C) Refinancing
D) Insurance
Q5. In which year was the Pradhan Mantri MUDRA Yojana launched?
A) 2014
B) 2015
C) 2016
D) 2017
ANSWERS & EXPLANATIONS
| Question | Answer | Explanation |
| Q1 | D | Tarun Plus was introduced to support graduates of the Tarun category up to ₹20 Lakh. |
| Q2 | C | PMMY is for non-farm activities; direct farming is covered under KCC. |
| Q3 | C | The scheme has been highly successful in driving women’s entrepreneurship (Nari Shakti). |
| Q4 | C | It provides funds to banks so they can lend further to micro-units. |
| Q5 | B | It was launched on April 8, 2015. |
EXAM RELEVANCE
| Exam | Focus Area | Relevance Level |
| RBI Grade B | ESI (Social Justice & Financial Inclusion) | Critical |
| Banking (PO) | General Awareness (Government Schemes) | High |
4. The National Quantum Mission (NQM)
Context:
In less than two years since becoming operational, the National Quantum Mission (NQM) has successfully demonstrated secure quantum communication over a distance of 1,000 km. This achievement brings India halfway to its ultimate goal of a 2,000-km pan-India network and solidifies its position among a select group of nations (like China and the US) capable of long-distance quantum networking.
THE FOUR THEMATIC HUBS (T-HUBS)
The mission is not a single project but a decentralized ecosystem managed through four specialized “T-Hubs.”
| T-Hub | Focus Area | Goal |
| Quantum Computing | Qubits & Hardware | Building a 1,000-qubit computer by 2031. |
| Quantum Communication | QKD & Fiber/Satellite | Creating a hack-proof “Quantum Internet.” |
| Quantum Sensing | High-precision sensors | Improving GPS-free navigation and medical imaging (MRI). |
| Quantum Materials | Exotic substances | Developing superconductors and topological insulators. |
HOW IT WORKS: QUANTUM KEY DISTRIBUTION (QKD)
The “hack-proof” nature of NQM’s communication relies on Quantum Key Distribution (QKD). Unlike traditional encryption, which uses complex math that a powerful computer could eventually “crack,” QKD uses the laws of physics.
- Superposition: Data is sent using photons (light particles).
- No-Cloning Theorem: In quantum mechanics, you cannot “copy” a quantum state without changing it.
- The Eavesdropper Alert: If a hacker tries to intercept or “observe” the key while it is in transit, the quantum state collapses. This alerts both the sender and receiver instantly, and the compromised key is discarded.
BACKGROUND CONCEPTS: Q&A FORMAT
Q: What is a “Qubit” and why is it faster?
A: A classical bit is like a light switch (On or Off). A Qubit (Quantum Bit) can be On, Off, or both at the same time (Superposition). This allows a quantum computer to calculate millions of possibilities simultaneously, solving in seconds what a supercomputer would take 10,000 years to finish.
Q: How does this relate to the “Quantum Reference Facility” in A.P.?
A: The Quantum Reference Facility (recently launched in Amaravati) acts as the “testing lab” for the components developed under the NQM. While NQM sets the national goals, facilities like the one in A.P. provide the physical hardware to test if those goals are being met.
CONCEPTUAL MCQs
Q1. What is the final target distance for the pan-India Quantum Communications network under NQM?
A) 500 km
B) 1,000 km
C) 2,000 km
D) 5,000 km
Q2. Which principle of quantum mechanics ensures that a hacker cannot copy a quantum encryption key without being detected?
A) Theory of Relativity
B) No-Cloning Theorem
C) Laws of Thermodynamics
D) Centrifugal Force
Q3. The NQM aims to develop quantum computers with how many physical qubits over an 8-year period?
A) 5 to 10
B) 50 to 1,000
C) 10,000 to 50,000
D) 1 Million
Q4. Which financial instrument is being used to support quantum startups without immediate equity dilution?
A) Initial Public Offering (IPO)
B) Fixed Deposit (FD)
C) Optionally Convertible Debt (OCD)
D) Kisan Vikas Patra
Q5. In which month and year did the National Quantum Mission become fully operational?
A) April 2023
B) January 2024
C) October 2024
D) April 2026
ANSWERS & EXPLANATIONS
| Question | Answer | Explanation |
| Q1 | C | The 1,000-km achievement is the halfway mark toward the 2,000-km goal. |
| Q2 | B | Measuring a quantum system disturbs it; copying it perfectly is physically impossible. |
| Q3 | B | 50-1,000 qubits is the “intermediate scale” targeted by the mission. |
| Q4 | C | OCDs provide debt that can become equity later, protecting founder ownership. |
| Q5 | C | While approved in 2023, it became operational in October 2024. |
EXAM RELEVANCE
| Exam | Focus Area | Relevance Level |
| UPSC CSE | GS-3 (Science & Tech, IT & Space, Cybersecurity) | Critical |
| SSC / Engineering | Current Affairs (Scientific Achievements) | High |
Banking/Finance
1. RBI’s Fraud Prevention Proposals & Banking Liquidity Surge
1. THE “GOLDEN HOUR” PROPOSAL
The Reserve Bank of India (RBI) released a discussion paper on April 9, 2026, proposing targeted friction in high-value digital transfers. This aims to combat Authorised Push Payment (APP) fraud, where users are tricked into sending money themselves.
The 1-Hour Delay Rule
- Threshold: Transactions over ₹10,000.
- Mechanism: The payer’s account is debited instantly, but the credit to the beneficiary is delayed for one hour.
- The “Kill Switch”: During this window, the sender can cancel the transaction if they suspect foul play.
- Scope: Primarily for person-to-person (P2P) transfers. Merchant payments (e.g., QR codes at shops) are generally excluded to maintain convenience.
Protection for Vulnerable Users
The paper outlines specific safeguards for senior citizens (70+) and persons with disabilities:
- Trusted Person Authentication: For transfers above ₹50,000, a pre-designated “trusted individual” may need to approve the transaction.
- Mule Account Scrutiny: Proposed cap of ₹25 lakh annual credit on accounts without “enhanced due diligence” to prevent money laundering.
BACKGROUND CONCEPTS: Q&A FORMAT
Q: What is “Authorised Push Payment” (APP) Fraud?
A: This is when a fraudster tricks you (via a fake call or message) into willingly authorizing a payment. Since you used your PIN/OTP, traditional security doesn’t stop it. The 1-hour lag creates a psychological “break” to help victims realize the scam.
CONCEPTUAL MCQs
Q1. According to the RBI discussion paper, the 1-hour delay is proposed for transactions above which amount?
A) ₹1,000
B) ₹5,000
C) ₹10,000
D) ₹50,000
E) ₹1,00,000
Q2. For vulnerable users (senior citizens), the RBI has suggested additional authentication for transfers exceeding:
A) ₹10,000
B) ₹25,000
C) ₹50,000
D) ₹1,00,000
E) No limit specified.
Q3. What was the primary reason cited for the 4-year high in banking system liquidity?
A) A sudden increase in bank locker charges.
B) Maturity of Government Securities (G-Secs).
C) Decrease in the number of bank accounts.
D) Massive withdrawal of cash by the public.
E) Closure of the UPI network.
Q4. The “Kill Switch” mentioned in the RBI paper allows a user to:
A) Delete their bank account permanently.
B) Instantly disable all digital payment channels in case of fraud.
C) Increase their daily transfer limit.
D) Change their ATM PIN remotely.
E) Turn off the bank’s mobile app.
Q5. When the banking system has a “Net Liquidity Surplus,” it generally means:
A) Banks are running out of cash.
B) Banks have more funds than they currently need for lending.
C) The government is borrowing more from the public.
D) The RBI is increasing the CRR (Cash Reserve Ratio).
E) Foreign investors are withdrawing from the stock market.
ANSWERS & EXPLANATIONS
| Question | Answer | Explanation |
| Q1 | C | ₹10,000 is the threshold where the 1-hour lag begins. |
| Q2 | C | The higher threshold (50k) is aimed at protecting life savings from coercion. |
| Q3 | B | When G-Secs mature, the RBI/Govt pays back the principal to banks, creating a cash surplus. |
| Q4 | B | It is a “panic button” to stop all digital outflows instantly. |
| Q5 | B | Surplus liquidity means banks are parking money with the RBI rather than borrowing from it. |
EXAM RELEVANCE
| Exam | Focus Area | Relevance Level |
| RBI Grade B | Phase II (Finance – Digital Payments & Liquidity Management) | Critical |
| SBI / IBPS PO | Banking Awareness (Current RBI Circulars) | High |
2. RBI Mandate: Accelerated Credit for Inward Remittances
Source: RBI Circular
Context:
On Thursday, April 9, 2026, the Reserve Bank of India (RBI) issued a landmark circular to tackle the primary bottleneck in cross-border payments: the beneficiary leg. This is the time taken from when a bank receives a payment message from abroad to when the money actually reflects in the customer’s account.
As India remains the world’s largest recipient of remittances (surpassing $135 billion in 2025), these new rules aim to align Indian banking with the G20 roadmap for cheaper, faster, and more transparent international payments.
THE NEW TIMELINES & RULES
The RBI has shifted the responsibility onto beneficiary banks to eliminate the “dead time” where funds sit in bank accounts but are not accessible to the recipient.
1. Immediate Customer Intimation
- Rule: Banks must inform the customer immediately upon receiving an inward payment message from a foreign bank.
- Non-Business Hours: If the message arrives after operating hours, the bank must notify the customer at the start of the next business day.
2. Nostro Account Reconciliation
- The Old System: Many banks previously waited for “End-of-Day” (EoD) statements to confirm they had received the money in their foreign accounts (Nostro accounts) before crediting the Indian customer.
- The New Rule: Banks must now perform reconciliation on a near real-time basis or at periodic intervals not exceeding one hour.
3. Same-Day Credit Mandate
- Banks are now required to credit inward payments received during foreign exchange market hours on the same business day.
- For individual residents, banks are encouraged to use Straight-Through Processing (STP)—an automated system that credits funds without manual intervention, provided the risk and FEMA checks are clear.
THE “NOSTRO” FACTOR
A Nostro Account is an account that an Indian bank (e.g., SBI) holds in a foreign bank (e.g., JP Morgan in the US) in foreign currency.
When your relative sends money from the US, it first lands in the Indian bank’s Nostro account in New York. The delay happens because the Indian branch in Mumbai needs to confirm the money is actually there before giving you the INR equivalent. By mandating 1-hour reconciliation, the RBI ensures that “confirmation” happens almost instantly.
KEY BENEFITS FOR STAKEHOLDERS
| Stakeholder | Primary Benefit |
| Individual Recipients | Faster access to funds for family maintenance, education, or emergencies. |
| Exporters | Improved working capital cycles; funds from global sales are available the same day. |
| Economy | Enhanced liquidity and faster circulation of foreign exchange in the Indian market. |
| Banks | Competitive edge by offering speed; however, they must invest in better automated reconciliation tech. |
BACKGROUND CONCEPTS: Q&A FORMAT
Q: What is “Straight-Through Processing” (STP)?
A: STP is an automated electronic payment process that allows for the entire credit cycle—from receiving the foreign message to depositing INR in the account—to happen without any manual data entry or human eyes. This reduces errors and speeds up the process from hours to seconds.
Q: Why do banks wait for the “Nostro” statement?
A: When money is sent from New York to Delhi, the Delhi bank first receives it in its account in New York (the Nostro account). Previously, many Indian banks only checked this account once a day. The 2026 RBI mandate forces them to check every hour to ensure you get your money faster.
Q: Is receiving money from relatives abroad taxable?
A: Under Section 56(2) of the Income Tax Act, money received from “specified relatives” (parents, siblings, spouse) is generally tax-free. However, it must be declared, and a proper Purpose Code (like Family Maintenance) must be used.
Q: What is the difference between Inward and Outward remittance?
A: Inward is money coming into India (e.g., an NRI sending money home). Outward is money leaving India (e.g., an Indian parent paying a child’s tuition fee in London). Outward remittances are usually subject to TCS (Tax Collected at Source).
CONCEPTUAL MCQs
Q1. According to the new RBI mandate, what is the maximum permissible gap for banks to reconcile their Nostro accounts?
A) 15 Minutes
B) 30 Minutes
C) 1 Hour
D) 4 Hours
E) End-of-Day (EoD)
Q2. If an inward payment message is received after banking hours, when must the bank inform the customer?
A) Within 24 hours.
B) By the end of the week.
C) Immediately at the start of the next business day.
D) They do not need to inform the customer until the credit is successful.
E) Only if the amount exceeds ₹10 Lakh.
Q3. Which international roadmap is the RBI aligning with by mandating faster cross-border payments?
A) IMF Sustainability Goals
B) G20 Roadmap for Cross-Border Payments
C) WTO Trade Facilitation Agreement
D) BRICS Financial Integration Plan
E) ASEAN Banking Framework
Q4. What is a “Nostro Account”?
A) An account held by a foreign citizen in an Indian bank.
B) An account held by an Indian bank in a foreign bank, in foreign currency.
C) A specialized account for crypto-currency trading.
D) A zero-balance savings account for farmers.
E) An account used exclusively for government tax collection.
Q5. What was the approximate value of remittances India received in 2025?
A) $50 Billion
B) $85 Billion
C) $100 Billion
D) $135 Billion
E) $200 Billion
ANSWERS & EXPLANATIONS
| Question | Answer | Explanation |
| Q1 | C | Banks can no longer wait until the end of the day; 1 hour is the new limit. |
| Q2 | C | Communication transparency is key to the new “immediate intimation” rule. |
| Q3 | B | The G20 goals emphasize cheaper, faster, and more accessible global payments. |
| Q4 | B | “Nostro” comes from the Latin for “Ours” (Our money in your bank). |
| Q5 | D | India continues to be the world leader in inward remittances. |
EXAM RELEVANCE
| Exam | Focus Area | Relevance Level |
| RBI Grade B | Phase II (Finance – Payment Systems & FEMA) | Critical |
| UPSC CSE | GS-3 (Indian Economy – External Sector) | High |
| SBI / IBPS PO | General Awareness (Banking Technology & Operations) | High |
Facts To Remember
1. Argentina’s Formal Withdrawal from the WHO
Effective March 2026, Argentina has officially completed its withdrawal from the World Health Organization (WHO). This follows the one-year notification period initiated by the administration of President Javier Milei in 2025. Argentina is now the first major nation in South America to exit the specialized UN agency, citing concerns over national sovereignty and the perceived “bureaucratic overreach” of global health bodies.
2. Cabinet Approves ₹40,175 Crore Mega Hydro Projects in Arunachal Pradesh
Cabinet Committee on Economic Affairs led by Narendra Modi approved two hydro projects worth ₹40,175.33 crore. Kalai-II (1,200 MW) and Kamala (1,720 MW) projects will generate 4,852.95 MU and 6,870 MU annually. The projects include major infrastructure and flood moderation components. They aim to boost renewable energy and energy security in Northeast India.
3. Cabinet Approves NBS ₹41,533 Cr, Jaipur Metro Phase-II & HRRL Expansion
Union Cabinet approved ₹41,533.81 crore NBS subsidy for Kharif 2026. Jaipur Metro Phase-II (41 km) approved at ₹13,037.66 crore. HRRL refinery cost revised from ₹43,129 crore to ₹79,459 crore. The decisions strengthen agriculture, urban transport, and energy infrastructure.
4. Jayant Chaudhary Launches Skills Outcomes Fund Initiative
Jayant Chaudhary launched Skills Outcomes Fund (SOF) to boost youth employment. It follows an outcomes-based financing model linking skilling to jobs. Implemented by NSDC, it targets sectors like IT, BFSI, and healthcare. The initiative aims to scale as the world’s largest OBF programme.
5. NITI Aayog Report Shows Women Hold ₹76 Lakh Crore Credit
NITI Aayog report highlights women hold ₹76 lakh crore credit (26% share). Credit penetration rose from 19% (2017) to 36% (2025). Around 16 crore women are credit-active with 9% CAGR growth. It reflects rising financial inclusion and economic participation.
6. India Withdraws Bid to Host COP33 Climate Summit 2028
India withdrew its proposal to host COP33 under UNFCCC. The decision leaves South Korea as the sole bidder. India had earlier hosted COP8 in 2002. The move follows a review of commitments amid global climate negotiations.
7. Jitendra Singh Announces Seismological Observatory & Doppler Radar
Jitendra Singh announced observatory in Kishtwar and Doppler Radar in Doda. The projects enhance earthquake monitoring and weather forecasting. Additional AWS stations planned in remote regions. These steps strengthen disaster preparedness in J&K.
8. ALEMAI Launches ‘Aluminium Bharat’ Initiative
Aluminium Extrusion Manufacturers Association launched Aluminium Bharat initiative. It aims to boost domestic manufacturing and global competitiveness. The sector supports over 10 lakh jobs in India. Aluminium Bharat 2026 expo will be held from Sept 26–29.
9. NTPC Signs MoU with EDF for Nuclear Power Collaboration
NTPC Limited signed MoU with EDF (France). The deal explores nuclear projects using EPR technology. It includes localisation, feasibility, and workforce training. The partnership supports India’s long-term nuclear energy goals.
10. ICAR Forms Task Force for Agricultural Resilience
Indian Council of Agricultural Research set up task force to tackle global disruptions. It focuses on food security, climate resilience, and supply chains. Initiatives include DSR, MGMG expansion, and millet mapping. The move enhances data-driven agricultural policy.
11. India Elected to Key UN ECOSOC Bodies
India elected to CSTD, NGO Committee, and CPC of ECOSOC. Preeti Saran re-elected to CESCR (2027–2030). This strengthens India’s role in global governance. It enhances presence in science, policy, and human rights bodies.
12. Nasscom Foundation Appoints UB Pravin Rao as Chairperson
UB Pravin Rao appointed Chairperson of Nasscom Foundation. He succeeds Rostow Ravanan. He brings 35+ years of tech leadership experience. The move ensures continuity in digital and social initiatives.
13. Everest Pioneer Jim Whittaker Passes Away
Jim Whittaker passed away at age 97. He was first American to summit Everest in 1963. He also led major expeditions including K2. His legacy remains significant in mountaineering history.
14. CRPF Valour Day Observed on April 9
CRPF Valour Day marks bravery during 1965 Battle of Sardar Post. The 61st observance held in 2026. CRPF repelled Pakistani attack under Operation Desert Hawk. The day honours sacrifice and courage of personnel.
15. Puducherry Deploys ‘Nila’ Robot at Polling Booth
Puducherry used ‘Nila’ humanoid robot at polling station. It greeted voters and provided assistance using AI interaction. Developed in Coimbatore, it supports multilingual communication. The initiative promotes tech-driven electoral engagement.
