Daily Current Affairs Quiz06 & 07 March, 2026 National Affairs 1. India’s 7th National Biodiversity Report Context: India has submitted its 7th National Report to the Convention on Biological Diversity (CBD). The report evaluates the country’s progress in achieving biodiversity conservation goals aligned with the Kunming–Montreal Global Biodiversity Framework (KMGBF) adopted in 2022, which sets global biodiversity targets to be achieved by 2030. What is the 7th National Biodiversity Report? The report is India’s official periodic submission to the CBD, outlining: It was prepared by the Ministry of Environment, Forest and Climate Change (MoEFCC) in coordination with institutions such as the National Biodiversity Authority (NBA) and other government agencies. Global Biodiversity Framework (KMGBF) The Kunming–Montreal Global Biodiversity Framework sets 23 global targets for 2030, aiming to halt biodiversity loss worldwide. Key Goals India has aligned its policies with these goals through its National Biodiversity Strategy and Action Plan (NBSAP). Key Findings of India’s Report 1. Limited Progress Towards Targets Out of 23 national biodiversity targets, only two are currently on track to be achieved by 2030, indicating significant gaps in implementation. 2. Forest and Tree Cover India’s forest and tree cover stands at about 25% of the total geographical area, showing a modest increase in recent years. 3. Ecosystem Restoration Efforts India has pledged to restore 26 million hectares of degraded land under the Bonn Challenge, with substantial progress already reported. 4. Recovery of Flagship Species Conservation programmes have led to improvements in populations of certain species, including: These successes reflect the effectiveness of species-specific conservation initiatives. Major Challenges Identified 1. Land Degradation Nearly one-third of India’s land area is affected by degradation, threatening biodiversity and ecosystem services. 2. Limited Protected Areas Protected areas cover only around 5% of India’s land area, which is far below the global target of conserving 30% by 2030. 3. Data and Monitoring Gaps Biodiversity data is often fragmented across institutions, making effective monitoring and policy implementation difficult. 4. Climate Change Impacts Climate change is increasing the frequency of extreme weather events such as floods, droughts, and forest fires, affecting ecosystems and species survival. 2. Census 2027 Mascots: Pragati and Vikas Source: TH Context: The Union Home Minister unveiled the official mascots “Pragati” and “Vikas” for Census 2027 and also soft-launched digital tools to support the upcoming census exercise in New Delhi. What is the Initiative? The Government of India has introduced two mascots for Census 2027 to: These mascots will act as public outreach ambassadors for the census. Mascot Names and Representation Symbolism Key Features of Census 2027 1. World’s Largest Population Enumeration 2. First Fully Digital Census in India 3. Self-Enumeration Facility Two Phases of Census 2027 Phase 1: Houselisting and Housing Census (HLO) Phase 2: Population Enumeration (PE) 3. Sanand 2.0 Source: BS Context: The inauguration of the Micron Technology semiconductor facility in Sanand, Gujarat, marks a major milestone in India’s ambition to become a global semiconductor manufacturing hub. Industry observers describe this shift as “Sanand 2.0”, moving the region from an automobile manufacturing centre to a semiconductor ecosystem. From Sanand 1.0 to Sanand 2.0 Sanand 1.0 – Automobile Hub Sanand 2.0 – Semiconductor Manufacturing Micron’s Semiconductor Facility Micron Technology, a US-based semiconductor company headquartered in Idaho, set up an ATMP facility (Assembly, Testing, Marking, and Packaging) in Sanand. Key Products Micron is known for manufacturing: These technologies are essential for computers, smartphones, servers, and data centres. Why Micron Chose Sanand Micron evaluated two possible locations in Gujarat: Micron ultimately chose Sanand because: Speed of execution was a key factor, as semiconductor supply chains require rapid operations and minimal downtime. 4. Bronze Art in India Context: The Ashmolean Museum (Oxford) has decided to return a 16th-century bronze idol of Saint Tirumankai Alvar after research showed it originally belonged to the Soundarrajaperumal Temple, Thadikombu (Tamil Nadu) and was replaced by a replica after being removed. This highlights the importance of bronze sculptures in India’s religious, artistic, and cultural traditions. What is Bronze Art? Bronze art refers to sculptures and ritual objects made from copper-based alloys, mainly bronze or brass. In South India, many idols are made using the panchaloha alloy (a mix of five metals). Uses Bronze objects were widely used for: In many temples, bronze idols are considered living deities and are used in religious festivals and processions. Important Bronze Artefacts in Indian History 1. Dancing Girl (Mohenjodaro, c. 2500 BCE) 2. Daimabad Bronzes (c. 1500 BCE) 3. Chola Bronzes (9th–13th century CE) Banking/Finance 1. IDFC First Bank Fraud Source: IE Context: A ₹590-crore fraud involving Haryana government accounts maintained at a Chandigarh branch of IDFC First Bank has been uncovered. Investigations suggest forged cheques, diversion of funds, and involvement of bank officials along with private entities. What is the IDFC First Bank Fraud? The case refers to an alleged large-scale financial scam in which funds belonging to Haryana government departments were illegally withdrawn and diverted from accounts held in IDFC First Bank. Key Modus Operandi Issues Highlighted 1. Banking Governance Failures Weak internal controls and compliance mechanisms in the bank allowed fraudulent withdrawals from government accounts. 2. Forgery and Document Manipulation Use of forged financial documents and manipulated records exposed vulnerabilities in banking verification systems. 3. Collusion Between Officials The case suggests coordinated actions between bank staff, government officials, and private entities, pointing to systemic corruption risks. 4. Poor Monitoring of Public Funds Government funds kept as fixed deposits and bank balances were not effectively monitored by the concerned departments. 2. RBI Proposes Relief for Small Digital Fraud Victims Source: ET Context: The Reserve Bank of India (RBI) has proposed a new measure to provide quick financial relief to victims of small digital frauds. Under the proposal, customers who lose money in online frauds may receive compensation within five days of reporting the incident. Key Features of the Proposal 1. Compensation Limit 2. Time Limit for Reporting 3. One-Time Relief Measure Who Will Bear the Compensation Cost? The financial burden will be shared between banks and the RBI. This ensures

Daily Current Affairs Quiz04 & 05 March, 2026 International Affairs 1. Strait of Hormuz Source: TH Context: Rising tensions involving Iran, Israel, and the United States have brought global attention to the Strait of Hormuz, due to fears that conflict could disrupt global oil and LNG shipments. What is the Strait of Hormuz? The Strait of Hormuz is a strategically vital maritime passage through which a large share of the world’s oil and gas exports travel from the Persian Gulf to global markets. It is considered one of the most important energy chokepoints in the world. Location Geographic Features Because of this narrow passage, the strait is considered a critical maritime chokepoint. Historical Importance The Strait of Hormuz has long been central to global geopolitics and trade. Major historical events linked to it include: Iran has often used the threat of blocking the strait as a strategic tool during geopolitical disputes. National Affairs 1. 16th Finance Commission on Centre–State Fiscal Relations (2026–31) Source: TH Why in News? The 16th Finance Commission of India has submitted its recommendations for the period 2026–31. It retained the States’ share in tax devolution at 41%, while introducing changes in the horizontal distribution formula and proposing reforms such as merging cesses and surcharges into the divisible pool. Constitutional Background The Finance Commission is constituted under Article 280 of the Constitution of India to recommend: The certification of the net proceeds of taxes is done by the Comptroller and Auditor General (CAG) under Article 279 of the Constitution of India. Key Recommendations of the 16th Finance Commission 1. Vertical Devolution The Commission retained the states’ share at 41% of the divisible pool, continuing the arrangement recommended by the 15th Finance Commission of India. Grand Bargain Proposal To address concerns about the rise of cesses and surcharges, the Commission proposed a “grand bargain”: This aims to expand the total pool of shareable taxes. Horizontal Devolution Formula The Commission introduced a revised formula to distribute funds among states. Criterion Weight Income Distance 42.5% Population (2011 Census) 17.5% Demographic Performance 10% Forest & Ecology 10% Area 10% Contribution to GDP 10% Key Changes This shift rewards economic performance while maintaining redistribution goals. Grants-in-Aid Total grants recommended: ₹9.47 lakh crore 1. Local Body Grants – ₹8 lakh crore Split between: Conditions include: New Initiatives 2. Disaster Management Grants – ₹2.04 lakh crore Funds allocated for State Disaster Relief and Management Funds. Cost sharing: Fiscal Roadmap and Reform Recommendations Fiscal Deficit Targets Off-Budget Borrowings The Commission recommended ending off-budget borrowings and including them in fiscal deficit calculations. Power Sector Reforms Encouraged privatisation of DISCOMs to improve efficiency. Subsidy Rationalisation Suggested rationalising subsidies, especially unconditional cash transfers enabled by the JAM Trinity (Jan Dhan–Aadhaar–Mobile). Unconditional cash transfers now account for 20.2% of subsidy spending, up from 3% in 2018–19. Public Sector Enterprise Reforms Recommended: Key Issues and Criticisms 1. Retaining 41% Devolution States had demanded 50% share in central taxes. Critics argue the recommendation: 2. Rising Cesses and Surcharges Cesses and surcharges: The Commission did not impose firm limits, which may weaken fiscal federalism. 3. Shift Toward Performance-Based Transfers The introduction of GDP contribution criterion benefits economically advanced states such as: This may reduce redistribution to poorer states. 4. Removal of Revenue Deficit Grants The Commission discontinued revenue deficit grants, affecting: 5. Fiscal Discipline Conditions Recommendations like: may limit fiscal flexibility of states. Impact on States Major Losing States Implication Reduced fiscal transfers could widen regional inequality, especially for states requiring higher public investment. Steps Needed to Strengthen Fiscal Federalism 1. Increase Vertical Transfers States’ share in tax revenue should be increased beyond 41%. 2. Limit Cesses and Surcharges A legal cap (e.g., 10% of gross tax revenue) could prevent excessive centralisation. 3. Ensure Floor Guarantee No state should receive less than its allocation under the 15th Finance Commission. 4. Strengthen Local Governments Empower Panchayats and Urban Local Bodies through: 5. Revive Federal Dialogue Regular meetings of the Inter-State Council of India under Article 263 of the Constitution of India can help resolve fiscal disputes. 2. MGNREGS Workers Flag Glitches in Monitoring App Source: TH Context: Workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have reported technical problems with the updated National Mobile Monitoring System (NMMS) application used to record worker attendance. From March 1, the government made facial recognition mandatory for marking attendance in the NMMS app. What is the NMMS App? The National Mobile Monitoring System (NMMS) is a government mobile application used for: Attendance is recorded by mates or supervisors, who take photographs of workers twice a day and upload them to the system. Facial Recognition System The latest update requires: Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is one of India’s largest social welfare programmes aimed at enhancing livelihood security in rural areas by providing guaranteed wage employment. Launch Date Implementing Ministry Additional Context 3. Ruddy Shelduck (Brahminy Duck) Context: Residents of Mudh village, Ladakh have been protecting the Ruddy Shelduck for more than two decades. During the breeding season, villagers help escort young birds (fledglings) safely from nesting areas to the Indus River, highlighting a strong example of community-led conservation. About the Ruddy Shelduck Scientific Name Distribution Conservation Status According to the International Union for Conservation of Nature (IUCN): This means the species currently faces no major global extinction risk, though local conservation efforts remain important. 4. WTO’s 14th Ministerial Conference (MC14) Context: India has submitted proposals for the 14th WTO Ministerial Conference (MC14) focusing on: The conference will address key unresolved issues in global trade governance. What is the WTO Ministerial Conference? The Ministerial Conference is the highest decision-making body of the World Trade Organization (WTO). Key Features Legal Basis The Ministerial Conference was established under the Marrakesh Agreement (1994) that created the WTO. Frequency WTO Ministerial Conference 14 (MC14) Host 5. Government Plans Mandatory Carbon Credit Trading for Steel Sector Source: BS Context: The Government of India plans to make compliance