Source: TH Context: A ₹20,000 crore allocation in Union Budget 2026 for a “carbon credit programme” has triggered confusion over its actual intent—whether it targets industrial decarbonisation through CCUS or aims to create carbon income opportunities for farmers. Core Issue: What is CCUS (Carbon Capture, Utilization, and Storage)? Carbon Capture, Utilization, and Storage (CCUS) is a technology-based climate solution that involves: What Does CCUS Target? Hard-to-Abate Industries CCUS focuses on sectors where emissions are: Key Target Sectors These sectors are responsible for a large share of industrial CO₂ emissions and cannot fully decarbonize through renewable energy alone. Why Agriculture is NOT Included in CCUS 1. Diffuse Emission Sources 2. Biological Nature of Emissions 3. Technological Mismatch Agriculture’s Role: Carbon Dioxide Removal (CDR) Instead of CCUS, agriculture contributes through: These methods absorb CO₂ from the atmosphere, rather than capturing emissions at source.
RBI Reassures on HDFC Bank: Understanding Systemically Important Banks (D-SIBs) in India
Source: BS Context: The Reserve Bank of India (RBI) reassured markets regarding HDFC Bank after the resignation of its chairman, stating that the bank remains a Domestic Systemically Important Bank (D-SIB) with strong governance and financial stability. What are Systemically Important Banks? Key Features of D-SIBs 1. Systemic Importance 2. RBI Framework (2014) 3. Bucket Classification 4. Additional Capital Requirement D-SIBs in India (Current List) Why are D-SIBs Important? 1. Financial Stability 2. Risk Containment 3. Enhanced Regulation Classification of Banks in India 1. Ownership-Based 2. Functional 3. Regulatory
Daily Current Affairs (DCA) 18 March, 2026
Daily Current Affairs Quiz18 March, 2026 National Affairs 1. Government Withdraws Jan Vishwas (Amendment of Provisions) Bill, 2025 Source: ET The Government of India has withdrawn the Jan Vishwas (Amendment of Provisions) Bill, 2025 from the Lok Sabha to make further changes. The withdrawal motion was moved by Commerce and Industry Minister Piyush Goyal and was approved through a voice vote in the Lok Sabha. Purpose of the Bill The Jan Vishwas (Amendment of Provisions) Bill, 2025 aimed to: The broader goal was to improve the ease of doing business in India by replacing certain criminal penalties with civil penalties or administrative actions. Why the Bill Was Withdrawn The government withdrew the bill in order to: 2. State of Working India Report 2026 Source: BS A report by Azim Premji University titled State of Working India 2026 highlights a significant trend in India’s labour market: about 67% of unemployed youth aged 20–29 were graduates in 2023. Key Findings 1. Sharp rise in graduate unemployment This indicates that the share of graduates among unemployed youth has more than doubled in two decades. 2. Rapid expansion of higher education India has significantly expanded access to higher education, producing many more graduates. 3. Job creation lagging behind graduate supply Between 2004 and 2023: The report notes that graduate employment has not kept pace with the growing supply of graduates. Reasons for High Graduate Unemployment The report identifies several factors: 3. UNEP Report: Safe Disposal of Unused Medicines (2026) Context: The United Nations Environment Programme (UNEP) released the 2026 report “Safe Disposal of Unused Medicines”, highlighting the serious environmental and public health risks caused by improper disposal of pharmaceuticals. The report proposes a global framework for safer management of unused medicines using a One Health approach, which links human health, animal health, and environmental protection. What the Report Focuses On The report recommends strengthening national systems through: These measures should cover medicines from: Key Findings 1. Environmental Risks Improper disposal of medicines (e.g., flushing down toilets or dumping in landfills) releases pharmaceutical chemicals into soil and water. This can cause: 2. High Global Wastage 3. Rising Economic Impact The unused medicine management market is projected to reach about $2.54 billion by 2032, driven by: 4. Wastewater Treatment Limitations Most wastewater treatment plants are not designed to remove pharmaceutical compounds completely. As a result: 5. Public Health Threat – Antimicrobial Resistance According to global estimates: Improper medicine disposal contributes to AMR by exposing bacteria in the environment to low levels of antibiotics, enabling resistance development. 6. Prevention Potential The report highlights prevention as the most effective solution. Example: Key Recommendations of the Report The report calls on governments to: 4. Exercise Sea Dragon Source: TH Context: Exercise Sea Dragon is a multinational anti-submarine warfare (ASW) exercise led by the United States Navy in the Western Pacific Ocean near Guam. Recently, the Indian Navy deployed its Boeing P‑8I Poseidon maritime patrol aircraft to participate in this exercise. Overview Aim of the Exercise The exercise seeks to: Participating Countries Key Indo-Pacific partners typically participating include: 5. 24 Speed Post Source: TH Context: The Department of Posts under the Ministry of Communications launched “24 Speed Post” on 17 March 2026 to provide guaranteed next-day delivery services for urgent consignments. This initiative strengthens the premium express delivery services of India Post. What is 24 Speed Post? 24 Speed Post is a premium express postal service designed for time-sensitive shipments. It ensures D+1 delivery, meaning the parcel is delivered the next day after booking, with enhanced tracking and security features. Objectives The service aims to: Cities Covered in the First Phase The service will initially operate across all PIN codes in six major metro cities: 6. India’s First National Report on Implementation of the Nagoya Protocol Source: PIB Context: India has submitted its First National Report (NR1) on the implementation of the Nagoya Protocol to the Secretariat of the Convention on Biological Diversity (CBD). The report highlights India’s progress in implementing Access and Benefit Sharing (ABS) mechanisms related to the use of genetic resources. It was prepared by the Ministry of Environment, Forest and Climate Change in collaboration with the National Biodiversity Authority (NBA). About the First National Report (NR1) India’s First National Report (NR1) is an official submission describing the legal, institutional, and implementation measures taken by India to fulfil its obligations under the Nagoya Protocol. Reporting Period The report covers the period from 1 November 2017 to 31 December 2025. Key Findings from the Report 1. Community Participation A large number of local biodiversity institutions have been established. These committees function at the local body level to document biodiversity and manage local resources. 2. Access and Benefit Sharing (ABS) Approvals Total approvals issued (2017–2025): 3. Benefit Sharing The Access and Benefit Sharing mechanism generated significant funds: About the Nagoya Protocol The Nagoya Protocol is a supplementary agreement to the Convention on Biological Diversity that establishes a legal framework for access to genetic resources and fair sharing of benefits arising from their use. Objectives of the Protocol 7. Dual-Sex Crab (Vela carli) Source: TH Context: Researchers have discovered a rare dual-sex freshwater crab in Silent Valley National Park in Kerala, located in the Western Ghats. The crab belongs to the species Vela carli and shows gynandromorphy, a rare biological condition where an organism has both male and female physical traits. This is the first recorded case of gynandromorphy in the crab family Gecarcinucidae. What is the Dual-Sex Crab? Scientific Classification Habitat and Distribution This region is known for high biodiversity and endemic species. What is Gynandromorphy? Gynandromorphy is a rare biological phenomenon where an organism shows both male and female physical characteristics simultaneously. Banking/Finance 1. IRDAI Proposes Public Insurance Registry (PIR) Source: TH Context: The Insurance Regulatory and Development Authority of India (IRDAI) has proposed creating a Public Insurance Registry (PIR) to modernise the information infrastructure of India’s insurance sector. The proposal was discussed at a stakeholder meeting addressed by IRDAI Chairman Ajay Seth in New Delhi. What
UNEP Report: Safe Disposal of Unused Medicines (2026)
Context: The United Nations Environment Programme (UNEP) released the 2026 report “Safe Disposal of Unused Medicines”, highlighting the serious environmental and public health risks caused by improper disposal of pharmaceuticals. The report proposes a global framework for safer management of unused medicines using a One Health approach, which links human health, animal health, and environmental protection. What the Report Focuses On The report recommends strengthening national systems through: These measures should cover medicines from: Key Findings 1. Environmental Risks Improper disposal of medicines (e.g., flushing down toilets or dumping in landfills) releases pharmaceutical chemicals into soil and water. This can cause: 2. High Global Wastage 3. Rising Economic Impact The unused medicine management market is projected to reach about $2.54 billion by 2032, driven by: 4. Wastewater Treatment Limitations Most wastewater treatment plants are not designed to remove pharmaceutical compounds completely. As a result: 5. Public Health Threat – Antimicrobial Resistance According to global estimates: Improper medicine disposal contributes to AMR by exposing bacteria in the environment to low levels of antibiotics, enabling resistance development. 6. Prevention Potential The report highlights prevention as the most effective solution. Example: Key Recommendations of the Report The report calls on governments to:
State of Working India Report 2026
Source: BS A report by Azim Premji University titled State of Working India 2026 highlights a significant trend in India’s labour market: about 67% of unemployed youth aged 20–29 were graduates in 2023. Key Findings 1. Sharp rise in graduate unemployment This indicates that the share of graduates among unemployed youth has more than doubled in two decades. 2. Rapid expansion of higher education India has significantly expanded access to higher education, producing many more graduates. 3. Job creation lagging behind graduate supply Between 2004 and 2023: The report notes that graduate employment has not kept pace with the growing supply of graduates. Reasons for High Graduate Unemployment The report identifies several factors:
Government Withdraws Jan Vishwas (Amendment of Provisions) Bill, 2025
Source: ET The Government of India has withdrawn the Jan Vishwas (Amendment of Provisions) Bill, 2025 from the Lok Sabha to make further changes. The withdrawal motion was moved by Commerce and Industry Minister Piyush Goyal and was approved through a voice vote in the Lok Sabha. Purpose of the Bill The Jan Vishwas (Amendment of Provisions) Bill, 2025 aimed to: The broader goal was to improve the ease of doing business in India by replacing certain criminal penalties with civil penalties or administrative actions. Why the Bill Was Withdrawn The government withdrew the bill in order to:
RBI Wins “Initiative of the Year” Award for .bank.in Domain
Source: ET Context: The Reserve Bank of India (RBI) has received the “Initiative of the Year” award from Central Banking for launching the .bank.in domain, a dedicated internet domain for India’s banking sector. What is .bank.in? The .bank.in domain is a specialised and exclusive internet domain for banks in India, designed to strengthen the security of digital banking services. India has become the first country in the world to mandate a dedicated domain exclusively for banks. Objectives of the Initiative The .bank.in domain aims to:
NBFCs Delay External Commercial Borrowings as Hedging Costs Rise
Context: Several Non-Banking Financial Companies (NBFCs) in India are postponing plans to raise funds through External Commercial Borrowings (ECBs) due to rising hedging costs triggered by geopolitical tensions in the West Asia region. External Commercial Borrowings (ECBs) External Commercial Borrowings (ECBs) are loans raised by Indian entities from foreign lenders in foreign currency or sometimes in Indian rupees. These borrowings help companies access international capital markets for financing their business activities. The framework for ECBs in India is regulated by the Reserve Bank of India (RBI). These loans can be in the form of: Eligible Borrowers Entities allowed to raise ECBs include: Why NBFCs Use ECBs NBFCs generally tap overseas markets to: However, the cost advantage depends on hedging costs used to protect against exchange-rate volatility.
RBI’s New Rules Deepen India’s Acquisition Finance Market
Source: Mint Context: Recent reforms by the Reserve Bank of India (RBI) have significantly reshaped India’s acquisition finance landscape, allowing banks to play a larger role in funding corporate acquisitions while maintaining strong prudential safeguards. These changes come through: Together, they open new channels for bank-funded acquisitions and offshore borrowing. 1. Banks Can Now Provide Acquisition Finance RBI now allows Indian banks to provide acquisition finance to: The funds can be used to acquire strategic control in domestic or foreign companies. Thresholds covered Acquisitions that cross key voting thresholds are eligible: Control can be acquired through: 2. Eligibility Conditions for Borrowers To prevent excessive risk, RBI has set strict financial eligibility criteria. Minimum financial strength Acquirers must have: For unlisted companies: 3. Financing Limits and Equity Contribution RBI has imposed conservative leverage rules. Rule Requirement Maximum bank financing 75% of acquisition value Minimum equity contribution 25% from acquirer Post-acquisition debt-equity ratio Max 3:1 For unlisted targets: Listed acquirers can temporarily bridge equity contribution for up to 12 months, provided an equity take-out is planned. 4. Mandatory Recourse and Security Unlike leveraged buyouts in global markets, RBI requires recourse to the parent company. Key safeguards include: This marks a clear departure from non-recourse leveraged buyout structures commonly used internationally. The goal is to prevent highly leveraged acquisition structures from threatening financial stability. 5. Refinancing of Target Company Debt Allowed Banks can now refinance existing debt of the target company if it is integral to the acquisition. This helps when: Importantly: 6. Exposure Limits for Banks The new framework also regulates banks’ risk exposure. Exposure Limit Cap Total capital market exposure 40% of eligible capital Acquisition finance sub-limit 20% Overseas branch participation in a deal Max 20% of funding These limits help prevent concentration risk in acquisition lending. 7. Changes to External Commercial Borrowings (ECBs) The RBI also liberalized the ECB framework. Major changes include: This opens an offshore borrowing channel for acquisition finance.
ICRIER Paper: Use West Asia Crisis to Push Fertiliser Reforms in India
Source: BS Context: A new policy paper by the Indian Council for Research on International Economic Relations (ICRIER) argues that India should use the current geopolitical disruptions in West Asia as an opportunity to reform its fertiliser subsidy and supply system. The paper titled “De-risking Fertiliser Supplies for India Amid Rising Geopolitical Risks” highlights the country’s heavy import dependence and fiscal burden from fertiliser subsidies. Key Concern: High Import Dependence The report notes that 68.6% of India’s fertiliser value chain depends on imports, making the sector vulnerable to geopolitical shocks. Break-up of dependence: This means India’s fertiliser security is highly exposed to global conflicts and supply disruptions, especially in energy-producing regions. Major Reform Recommendations The ICRIER paper suggests several structural reforms. 1. Direct Benefit Transfer (DBT) to Farmers Instead of subsidising fertiliser products, the government should transfer subsidies directly to farmers. Benefits: 2. Gradual Price Deregulation The report recommends gradually deregulating fertiliser prices, especially for macronutrients. This would: 3. Bring Urea Under Nutrient-Based Subsidy (NBS) Currently: The report proposes bringing urea under theNutrient Based Subsidy Scheme. This would: 4. Use AgriStack for Fertiliser Targeting If direct reforms are difficult initially, the paper suggests restricting fertiliser sales based on farm size and crop patterns. This could be implemented using the government’sAgriStack digital agriculture platform. The restrictions could be based on: Supply-Side Recommendations The report also calls for reducing import risks through diversification. Measures suggested:
