Daily Current Affairs Quiz12, 13 & 14 March, 2026 National Affairs 1. Fiscal Health Index (FHI) 2026 Source: Mint Context: The NITI Aayog released the second annual edition of the Fiscal Health Index, assessing the fiscal performance of Indian states for FY 2023–24. What is the Fiscal Health Index? The Fiscal Health Index (FHI) is a framework designed to evaluate and compare the fiscal health of Indian states.Unlike simple deficit measures, it provides a multi-dimensional assessment of fiscal sustainability, revenue strength, and debt management. Core Pillars of the Index The FHI evaluates states based on five key pillars: State Rankings (FY 2023–24) Top Performing States Bottom Performing States Key Findings of the Report 1. Expanded Coverage 2. Strong Performance by Odisha 3. Fiscal Stress in Some States States like Punjab, Kerala, and West Bengal face challenges due to: 4. Shift Toward Capital Expenditure 5. Macro-Fiscal Importance Key Fiscal Challenges 1. High Committed Expenditure 2. Weak Own Revenue Mobilisation 3. Fiscal Deficit Breaches 4. Rising Interest Burden 5. Geographic Constraints 2. Jal Jeevan Mission 2.0 Source: TH Context:The Union Cabinet of India has approved the restructuring and extension of the Jal Jeevan Mission until 2028, marking the beginning of JJM 2.0 to further improve rural water supply systems. Background Launched in 2019 by the Ministry of Jal Shakti, Jal Jeevan Mission aims to provide functional household tap connections (FHTCs) to every rural household under the “Har Ghar Jal” initiative. Progress so far: Financial Outlay Key Features of JJM 2.0 3. Pradhan Mantri Matsya Sampada Yojana (PMMSY) Source: PIB Context: The Union Government has allocated ₹2,500 crore for the fisheries sector under the Pradhan Mantri Matsya Sampada Yojana in the Union Budget 2026–27. What is PM Matsya Sampada Yojana? Objectives Key Features 1. Large Investment Framework 2. Implementation Components 3. Infrastructure Development 4. Aquaculture Promotion Support for modern aquaculture activities such as: 5. Fisher Welfare 6. Sustainable Fisheries Management 4. Supreme Court Applies Passive Euthanasia Framework for First Time Source: Indian Express Context: The Supreme Court of India applied its passive euthanasia framework for the first time to permit the withdrawal of life-sustaining treatment for Harish Rana, who had remained in a persistent vegetative state for 13 years. What is Euthanasia? Euthanasia refers to intentionally ending a person’s life to relieve suffering, often called “mercy killing.” Types of Euthanasia Evolution of Euthanasia Law in India 1. P. Rathinam v. Union of India (1994) 2. Gian Kaur v. State of Punjab 3. Aruna Shanbaug Case 4. Common Cause v. Union of India 5. 2023 Supreme Court Guidelines 5. Bug Bounty Programme Source: PIB Context: The Unique Identification Authority of India has launched its first structured Bug Bounty Programme to strengthen the cybersecurity of the Aadhaar ecosystem. What is a Bug Bounty Programme? A Bug Bounty Programme is a cybersecurity initiative where organisations invite ethical hackers and security researchers to identify vulnerabilities in their digital systems.Participants are rewarded for responsibly reporting security flaws before they can be exploited by malicious actors. Objective 6. Jal Jeevan Mission (JJM) Source: The Hindu Context: The Union Cabinet of India has approved the extension of the Jal Jeevan Mission until 2028, with a renewed focus on sustained water service delivery rather than just infrastructure creation. What is Jal Jeevan Mission? Aim 7. India Co-Sponsors UNSC Resolution Against Iran Source: TOI Context: India co-sponsored a resolution at the United Nations Security Council calling for the immediate cessation of attacks by the Iran on Gulf countries amid the ongoing West Asia conflict. Key Features of the Resolution Voting Outcome India’s Position According to the Ministry of External Affairs, India supported the resolution because: Banking/Finance 1. RBI Seeks Data on Banks’ Exposure to the Middle East Source: FE Context: The Reserve Bank of India (RBI) has asked Indian banks to provide detailed information about their financial exposure to Middle Eastern countries. This move comes amid rising geopolitical tensions and economic uncertainty in the region. The regulator’s objective is risk assessment and financial stability, ensuring that any potential shocks from the region do not adversely affect India’s banking system. What Exactly the RBI Has Asked Banks to Report The RBI has asked banks to submit granular (detailed) data covering multiple types of exposure: 1. Direct Loan Exposure Banks must report loans given to companies operating in Middle Eastern countries such as UAE, Qatar, and Oman. 2. Indirect Exposure This includes lending to Indian companies that operate or trade extensively with the Middle East, even if the loans were issued in India. 3. Contingent Liabilities Banks must also disclose non-fund-based commitments, such as: These obligations may not immediately appear as loans but can become liabilities during financial stress. Current Exposure of Indian Banks According to research by the State Bank of India (SBI): These figures highlight that Indian banks have substantial financial linkages with Gulf economies. Importance of the Gulf Region for India The Middle East—particularly GCC countries—is economically critical for India. Trade Dependence Other West Asian countries account for: Other Economic Linkages The region is important for: Any disruption in the region could therefore affect trade flows, banking exposure, and foreign exchange inflows. Why RBI is Conducting This Exercise Although the RBI has not flagged any immediate risk, the move is precautionary. The central bank wants to: This reflects the RBI’s broader strategy of proactive financial supervision. 2. RBI May Maintain Prolonged Policy Pause Source: Financial Express Context: Economists expect the Reserve Bank of India to keep policy interest rates unchanged in the upcoming monetary policy review, adopting a cautious wait-and-watch approach amid global geopolitical tensions and uncertain macroeconomic conditions. Current Monetary Policy Position Why Economists Expect a Policy Pause Liquidity Management by RBI The RBI has taken steps to maintain adequate liquidity in the financial system: These measures aim to counter liquidity drains caused by: 3. Central Bank of India Partners with IIFL Finance for Co-Lending Source: Financial Express Context: The Central Bank of India has entered into a co-lending partnership with IIFL Finance to expand credit access and offer

Daily Current Affairs Quiz10 & 11 March, 2026 National Affairs 1. SIPRI Report 2025 Source: Mint Context: The Stockholm International Peace Research Institute released its report “Trends in International Arms Transfers, 2025”, highlighting global arms trade patterns for the period 2021–2025. Key Findings: Top Arms Exporting Countries The leading global arms exporters during the period were: Global Arms Trade Trends 2. LaBL 2.0 (Lighting a Billion Lives 2.0) Source: Times of India Context: The The Energy and Resources Institute launched LaBL 2.0 (Lighting a Billion Lives 2.0) in New Delhi to scale up decentralised renewable energy solutions and promote sustainable rural livelihoods. What is LaBL 2.0? Objectives Key Features 3. Commission on the Status of Women (CSW) Context: The Commission on the Status of Women is holding its annual session at the United Nations headquarters in New York, where governments, UN agencies, and civil society organisations review global progress on gender equality. What is the CSW? Established: Secretariat Support: Objectives: 4. SheLeadsBharat – Shakti Walk Initiative Source: PIB Context: The Ministry of Women and Child Development organised the #SheLeadsBharat – Shakti Walk at Kartavya Path to mark International Women’s Day in 2026. What is #SheLeadsBharat – Shakti Walk? Objectives 5. Removal of the Chief Election Commissioner (CEC) Source: The Hindu Context: Opposition parties from the INDIA bloc, led by the All India Trinamool Congress, are reportedly planning to move an impeachment motion against Gyanesh Kumar. What is the Removal of the Chief Election Commissioner? The removal of the CEC is a constitutional and quasi-judicial process designed to safeguard the independence of the Election Commission of India.To protect the integrity of the electoral system, the CEC enjoys security of tenure similar to that of a judge of the Supreme Court of India. Constitutional Provision Grounds for Removal A CEC can be removed only on two grounds: Procedure for Removal 6. Proba-3 Mission Context: The European Space Agency recently lost contact with the Coronagraph spacecraft, one of the two satellites of the Proba-3, after an anomaly caused a power failure and pushed the satellite into survival mode. What is the Proba-3 Mission? Objective Key Features 7. India–Uzbekistan Launch Pharma–Nutraceutical Corridor Source: Business Standard Context: India and Uzbekistan have launched a structured pharmaceutical and nutraceutical trade corridor to expand access to the Commonwealth of Independent States (CIS) and the wider Eurasian healthcare market. About the Initiative: Key Objectives: 8. Inter-Operable Criminal Justice System (ICJS 2.0) Source: NCRB Dashboard / News Reports Context: In March 2026, Uttarakhand ranked first in India in the implementation of the Inter-Operable Criminal Justice System (ICJS 2.0), scoring 93.46 on the ICJS/CCTNS Progress Dashboard released by the National Crime Records Bureau with data up to January 2026. Top States in ICJS 2.0 Implementation About ICJS 2.0 Key Components Integrated Under ICJS Digital Reform in Uttarakhand Banking/Finance 1. RBI Tightens Banks’ Dividend Payout Norms Source: Financial Express Context: The Reserve Bank of India has issued final guidelines tightening dividend distribution by banks, linking payouts to capital strength and asset quality to ensure financial stability. Key Provisions of the New Guidelines Capital Adequacy Conditions Banks must meet the following requirements before declaring dividends: For foreign banks operating in India in branch mode, dividend remittance is allowed only if they have positive net profit. RBI’s Position on Industry Requests The RBI rejected several suggestions from banks: 2. RBI Allows NBFCs and ARCs to Include Quarterly Profits in Capital Base Source: Financial Express Context: The Reserve Bank of India has clarified regulatory norms allowing Non-Banking Financial Companies (NBFCs) and Asset Reconstruction Companies (ARCs) to include quarterly profits in their capital base, resolving long-standing ambiguity in capital calculation. What Has Changed? Earlier, most NBFCs and ARCs relied only on audited annual financial statements (typically as of March 31) to calculate: Due to regulatory uncertainty, quarterly profits were generally not included in capital calculations, limiting their ability to expand lending and investment activities during the year. Under the revised RBI directions: Conditions for Recognising Quarterly Profits To ensure prudential safeguards, the RBI has imposed strict conditions: Why the Change Matters The reform is expected to: 3. RBI Conducts ₹50,000 Crore OMO Purchase Source: The Hindu Context:The Reserve Bank of India (RBI) conducted Open Market Operations (OMO) to purchase ₹50,000 crore worth of Government Securities (G-Secs) to ease liquidity in the banking system amid global economic uncertainty and rising oil prices. What is an Open Market Operation (OMO)? Open Market Operations are a monetary policy tool used by the RBI to regulate liquidity in the economy by buying or selling government securities in the open market. Purpose of the OMO Purchase The latest OMO purchase was undertaken to: 4. Bank of Baroda Raises ₹10,000 Crore Through Green Infrastructure Bonds Context: In March 2026, Bank of Baroda raised ₹10,000 crore through Series-I long-term Green Infrastructure Bonds, becoming the first bank in India to issue domestic green bonds specifically for infrastructure financing. What is a Green Bond? A green bond is a fixed-income financial instrument used to raise funds for projects that have environmental or climate benefits. The money raised through these bonds is specifically earmarked for environmentally sustainable activities. Financial Terms About the Green Bond Issuance Credit Ratings The bonds received ‘AAA’ (Stable) ratings from: These ratings indicate high safety and strong credit quality. Use of Funds The funds raised will finance projects under BoB’s Green Financing Framework, including: 5. No Minimum Balance Penalty for Jan Dhan Accounts Source: BS Context: The Union Finance Minister Nirmala Sitharaman informed Parliament that Basic Savings Bank Deposit Accounts (BSBDAs), including those opened under Pradhan Mantri Jan Dhan Yojana, are not subject to penalties for failing to maintain a minimum balance. Key Points: What is a BSBD Account? A Basic Savings Bank Deposit Account (BSBDA) is a no-frills savings bank account introduced by the Reserve Bank of India to promote financial inclusion by providing basic banking services to all sections of society, especially low-income and unbanked individuals. Purpose of BSBDA Accounts: 6. FDI Policy Relaxation under Press Note 3 Source: